What is SUR?

SUR is a utility blockchain token which can be used as a pledge in a Suretly Crowdvouching platform.

The difference between SUR and WSUR tokens is only that SUR is based on Ethereum "smart" contract and WSUR is based on Waves asset platform.Tokens are equivalent.

What is Suretly?

Suretlyis a provider of an international crowdvouching platform. The company offers users an investment alternative called Crowdvouching, which allows customers to make money vouching for people who need an urgent loan.

Suretly is not a direct lender. All the loans are issued by lending partners, which are licensed microfinance organizations. They offer their borrowers a new lending product, which is called "Crowdvouched loans".

Each borrower needs to provide a few dozen guarantors in order to get such a loan. Each guarantor assumes responsibility for repaying a small part of this loan in the case of the borrower’s default. Thus, our users (vouchers) act as a collective body in making a decision on the approval or denial of a loan’s issue.

Suretly application is already launched in Russia.It is available for downloading in Apple Store and Google Play. It is scheduled to be launched in Kazakhstan in the 1st quarter, 2019. It will be launched in the USA during the IVth quarter, 2019.


HISTORY

Suretly project was launched in June 2016 thanks to the Russian National Research University "Higher School of Economics" business incubator’s support. It also became its first investor. In the fall of 2016, the project team was selected for "Generation S," which is the largest business accelerator in Europe. It became a Financial & Banks Technologies track finalist. Suretly began working on US market penetration in February 2017, and entered Starta Accelerator in New York. Suretly was nominated for the Benzinga Global Fintech Award in the "Best Lending Platform, Tool or App" category in April 2017. It is one of the most prestigious fintech international awards.

CONCEPT

The main goal of this project is to address the shortcomings of Peer-2-Peer-crediting technology and offer a new mass product to the market for individual investments into micro-loans.

Currently, Suretly is focused on short-term loans, which allows participants to take profits within 2-4 weeks from the loan’s issuing date.

TECHNOLOGY

Suretly offers an absolutely new financial technology called "Crowdvouching".

Unlike Peer-2-Peer lending, Suretly’s participants do not loan money to borrowers directly. They only vouch (or co-sign) for them in small amounts (from $2 to $10) for a commission. On crowdvouching platforms participants get their income at the moment the loan is issued. They guarantee to repay part of it later in the case of the borrower defaulting.

SUR-token history

On July-August, 2017 SURcoin Pte. Ltd held initial token sale and raised 168 BTC, 6460 ETH, 1329 LTC and 12922 WAVE (which was equal to $2.8 million USD on the closing date).

All raised funds was exchanged for 15% of Suretly, Inc.’s shares. Starting spring 2019 SUR-tokens are intended to be used as a pledge on a granted surety in the Suretly app.

Totally 237614 SUR-tokens and 28728 wSUR-tokens were issued, including additional 10% issued to the option pool for rewarding current and future employees.

Creation of new tokens is not considered.

Start using SUR-tokens now

Participate in the SUR tokens' discussion at bitcointalk.org

Role of tokens

In Suretly app customers can observe a list of borrowers who applied for short term loans. Profiles contain photo, city, age, gender and the statistical data on the timely loan repayment among borrowers of a similar category. Each participant can vouch for a borrower he likes and instantly get profit for each issued loan. SUR-tokens can be used as a guarantee and must be enrolled to the account in the application. After the loan is approved, the tokens get frozen in the amount according to the exchange rate. If the borrower won't pay off his loan later the voucher loses tokens in the guaranteed amount.

Starting 1st quarter of 2019 Suretly, Inc. will start transferring 0.2% of each loan secured by its participants to SURcoin pte.ltd. This money will be used by SURcoin pte.ltd to buy tokens from exchanges. All purchased tokens will be burned.

How to use SUR-token?

Deposit tokens to your account

Evaluate a borrower and credit rating

Swipe right if you are comfortable with risk/profit ratio.

Tokens get frozen till the loan is paid

You will be paid for each issued loan

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