Home Latest Cryptocurrency News Neluns is the next generation financial ecosystem

Neluns is the next generation financial ecosystem

By Oliver Carding - min read
Updated 01 October 2020

The Neluns team have published a statement regarding the upcoming launch of our ICO. It will be preceded by the Pre-sale and Pre-ICO phases.

The Neluns team vision focuses on building a new all in one financial ecosystem that will have the functionality of a bank, an insurance company, and currency exchange. All these modules will be seamlessly integrated and will equally support transactions with crypto or fiat money, bringing user experience to the next level. Since all the three modules belong to the Neluns team it will be possible to keep the fees competitive as opposed to the classic set up where all entities belong to different owners generating overhead costs for the clients.

The Neluns system is comprised of these elements:

Neluns Bank is the implementation of tomorrow’s banks functionality that easily handles both fiat and cryptocurrencies
Neluns Exchange is the module developed using the latest technology to increase the security and speed of the cryptocurrency trade operations process
Neluns Insurance part of the system could be used to insure all or some of the users transactions within the ecosystem

Highlights of the system include:

Cryptocurrencies trade operations are executed with a few clicks
Quick and cost effective cryptocurrencies exchange
Funds withdrawal and deposits from anywhere you go with an App
Option to open a private or corporate IBAN Accounts supporting multicurrency
Visa, MC, Amex debit and credit cards can be issued and linked to the multicurrency account in the system
International money transfers can be sent and received from within the system
Make interest yielding deposits in fiat or cryptocurrencies
Obtain loans from Neluns in fiat and cryptocurrencies
Earn interest on lending to other users via P2P (Peer-to-peer) Lending Platform
Trade NLS tokens on currency exchanges and draw profits
Selected or all trades can be insured
Earn dividends
Active market participants enjoy lower risk levels and make extra profits

Neluns Bank offers the product lines for the retail and corporate clients. The bank equally easy handles the transactions in fiat and cryptocurrencies. The concept of a multicurrency account allows users to execute the transactions either in traditional currencies (like dollars or euro) or cryptocurrencies. It is possible to link a bank card to the multicurrency account.

The product line consists of the bank cards the associated software products. The following products are available for both retail and corporate clients: Lite, Silver, Gold and Platinum.

Unlike the competition that often rely on legacy technology with external cryptocurrency modules, the Neluns financial ecosystem architecture is designed keeping in mind the synergies between crypto and fiat currencies. Using the multicurrency account the traditional retail bank operations are fully supported to make purchases, send payments or withdraw cash from an ATM. The same account is used to trade cryptocurrencies, obtain a loan from the system at a lower than a market rate, earn interest by extending a secured loan to another user of the system or place funds into the interest yielding savings account (it doesn’t matter which one – it could be crypto or classic currency or a mix).

The transactions are handled by the state of the art P2P lending platform that replaces the roles of the traditional retail and investment banks. Essentially it removes a proxy and connects directly the clients providing them security, transparency and flexibility in terms of how they prefer to deal with the money. Cutting out the middlemen and moving to the Neluns next-generation financial ecosystem brings a significant reduction to the transactions costs.

Neluns Exchange employs a “Bank Guarantee” principle for the smart contracts governing the execution of the transactions. In addition to the pre-defined smart contract templates, customization users can fine-tune the coverage to include various events and conditions, change the scope to cover some or all the transaction. The business logic is implemented using the top-notch technology to ensure additional security, quick funds withdrawals and load balancing to meet the high service demand. The team believes that the Neluns financial ecosystem should create the best in class conditions both for the cryptocurrency traders and their funds.

The roadmap lists iOS and Android apps to be implemented for the on the go operations using the mobile devices. It also contains the rollout of around the clock 24×7 technical support services to make sure all the user’s requests are properly logged, reviewed and resolved in line with the SLA (Service Level Agreement).

The Neluns team aims to align the project implementation to the applicable laws both domestically and internationally. Neluns Banks has begun the process of the banking business license acquisition. Neluns Bank is committed to follow respective license requirements and regulations from CFTC (U.S Commodity Futures Trading Commission) and SEC (U.S Securities and Exchange Commission).

ICO Highlights

The Neluns token (NLS) is an ERC20 token. NLS is a security token registered with SEC (U.S Securities and Exchange Commission). It has 50% dividends payout based on the Neluns ecosystem profit.

The dividends are paid out on a quarterly basis.

The formula for the dividends payout depends from the number of tokens one holds and the total number of tokens in circulation.

There are advantages for those who hold NLS tokens and use the Neluns ecosystem products. The benefits are dependent on the number of tokens owned. The greater the number the more lucrative the benefits are.