Debitum Token versus First Blood DEB vs 1ST
The three co-founders raised USD 17.2 M worth of Ethereum via a token generation event by issuing the so-called DEB token, which should have provided the users with potential returns. In a June 2024 interview, the new CEO mentioned that an external investor is interested in purchasing claim rights in Ukraine from affected investors at a 40% discount. Then you will select the category Auto invest and you will create the strategy that suits you.
Since then, the platform has been supervised by the Latvian Financial Supervisory Authority and regulated in accordance with MiFID II. In 2023, the company was sold from the previous management to Mr. Rengitis. During the transaction, the management ensured that any trace of the DEB token would be erased to cover the ICO pursued by the initial founders. Shortly after the issuance, the co-founders converted the raised crypto into fiat and funded the platform’s development. None of the backers have ever seen a refund or benefit from the DEB token, which essentially funded the platform.
- If you are looking for a P2P platform that offers high returns, financially sound companies, and investment options suitable for all experience levels, Debitum may be a great choice.
- In the following paragraphs of this Debitum review, you can follow-up on those questions.
- These are financial instruments that are composed of a bundle of different loans.
- Since my Debitum comeback in July 2024, I have been able to achieve a total return of 15.46%.
- Drawing insights from over 50 interviews with industry CEOs and founders, Jakub offers a unique perspective in the peer-to-peer lending realm.
The platform either doesn’t update its statistics regularly or provides incomplete data. Some information may be withheld to present a more favorable picture than the reality.
Management Changes and Lack of Transparency
- In a June 2024 interview, the new CEO mentioned that an external investor is interested in purchasing claim rights in Ukraine from affected investors at a 40% discount.
- The owners are the company “ZIdea” with 67% and the company “Amplo” with 33%.
- To achieve this, a buyer is to be found who will purchase the claims at a discount.
- According to Debitum’s whitepaper, the platform was designed to address the credit gap for small and medium-sized enterprises (SMEs).
- Given the issues outlined above, we strongly discourage investors from using this platform.
- The operational launch of the platform took place in September 2018.
Debitum is very careful when assessing new lenders, which is why there are only a few long-term partners on the marketplace. These include Evergreen Capital (Estonia), Flexidea (Latvia and Poland) and Triple Dragon (UK). Other lenders include Sandbox Funding and Juno Finance (both Latvia). The platform reached an important milestone in September 2021 when debitum token it was granted a licence as an investment brokerage firm.
Debitum Token (DEB) vs Rocket Pool (RPL)
The balance sheet is further strengthened by a liquidity ratio of a safe 1.79, indicating no issues with solvency. The balance sheet of SIA DN Operator has also significantly improved compared to the previous year. The founders at the time included Martins Liberts, Donatas Juodelis and Justas Šaltinis. The change of ownership in August 2023 is equally positive, as a result of which Debitum has seen a number of positive developments and new innovations. These include improvements for the loan supply, interest rates and liquidity.
In July 2023, Debitum announced a restructuring of the debt in Ukraine via a three-party agreement through SIA DN Funding Alpha (owned by Debitum). The platform introduced a wishful repayment plan that would pay out the outstanding principal within six years after the war in Ukraine was over. Debitum Network is committed to creating utility for the DEB token, providing holders with additional value. While the platform initially offered a few minor services where users could use the tokens, these offerings were limited in scope and impact. On March 13, 2018, the company—then operating under the brand name Debitum Network, managed by Prosperitu SIA—raised $17.2 million from backers. However, the company failed to deliver on the original promises outlined in the Debitum Network whitepaper.
The platform’s appeal derives from a mix of regulation, competitive interest rates and high liquidity. Other P2P platforms in the top 5 included Viainvest, Mintos, Swaper, and Income Marketplace. In the event of loan defaults, the lender is obligated to repurchase the loan within the specified timeframe (usually 90 days) as part of the buy-back obligation.