The Torga dev team are building a DeFi ecosystem to solve small business lending. The SMB lending market is a $5T global market, with no current DeFi market leader. Torga Token will be the integral part of delivering capital and creating collateral within their lending ecosystem.
The Problem
Small businesses are either underserved or exploited in the capital markets, on a global basis. Depending on the geography, successful small businesses either struggle to raise short term capital or are forced to do so at exorbitant rates. The Torga ecosystem is solving this problem. Our digital currency will play a vital role in supplying capital to fledging smaller companies on a global basis.
Within a $5T global market, current global issues include
- Lack of capital supply
- Capital supplied at extreme rates
- Security requirements that exclude 85% of companies
- Onerous personal guarantee requirements
- Slow manual processes
- Unsuitably structured repayment schedule
- Fintech ‘distruptors’ are in many cases exploitative
- Extensive cross over between personal and business profiles
The Solution: Torga TX
The Torga Token: An ERC-20 based digital currency secured by millions of computers on the Ethereum blockchain. Fixed, limited supply of 10m coins. The token will work alongside stablecoins providing liquidity and collateral across the Torga ecosystem.
Torga TX P2P: The TX peer-to-peer lending network that supplies working capital directly to small companies across the globe. Releasing capital to the underserved SMB market whilst generating returns for community and external investors.
Torga TX Card: A payment card solution that enables direct spending of $TRGA for real world requirements. The payment card will be used by $TRGA holders and TX P2P borrowers.
Roadmap summary:
- August 2021: Pre-Sale (completed)
- September 2021: Token Launch
- November 2021: Announcement of strategic corporate partner.
- February 2022: Launch of TX card
- December 2022: Launch of BETA lending solution in the UK market
- December 2023: Launch of the BETA lending solution in the US market
Torga Token Availability:
- Blockchain: Ethereum
- Total supply: 10,000,000 (Fixed)
- Liquidity: Locked for 1 year
- Available on: Uniswap
For more information, please review the Torga website here.
