Crypto mortgage Token Vita ICO has just started. The website countdown shows 22 days are left. Vita is a platform for smart mortgages backed by cryptocurrencies.
In a recent Twitter post, Vita has announced the Initial Coin Offering of the Vita Token has begun. The token is backed by the Vita platform which is built for smart mortgages. The platform has been built to replace the convoluted process required to get mortgages in the market.
According to the website,
“VITA is the world’s first Smart Mortgage provider with revolutionary, forward thinking, dynamic and simplistic underwriting processes for first time buyers buying a home. Vita is breaking the mould of your standard high street mortgage lenders. Our radical approach will be smashing all the traditional archaic approaches used by traditional mortgage lending and home ownership and changing them in a way to make the world look at our approach and wonder why this has never been thought of before.”
What is VITA?
VITA is the brainchild of a few dedicated cryptocurrency developers from around the world. They wanted to find one major problem and try and resolve it. For them, it was the Smart Mortgage idea.
VITA has created an innovative new concept which will turn the process of obtaining a mortgage and home buying on its head. For far too long people have struggled to get a mortgage. This is about to change! Throughout their white paper they have demonstrated their vision of what the platform can achieve and how together – with the support of like minded investors the dream can be realised!
The VITA APP will run alongside of the VITA HOMES website (coming soon). You will be able to apply, view and purchase a property direct or simply make a request to view.
The VITA app will also be used by customers to pay all utilities in VITA tokens and FIAT. The exchange from FIAT to VITA will also be available.
What is the VITA Token?
VITA tokens are ERC-20 token that will serve as utility tokens on all VITA platforms. They can used for –
- Buying houses on the VITA platform or
- Paying utility bills.
Holders of the Vita Tokens will be seen as shareholders in the “VITA FAMILY”. This is strictly for verified investors with profits made by the company being distributed to investors according to percentage of their financial contribution. The higher the investment, the greater the profit you will make.
Currently you can buy VITA tokens on the website at 1500 VITA for 1 ETH. The total number of tokens available are 10,000,000 VITA + 20% Bonus. Accepted currencies are Bitcoin and Ether tokens. The minimal transaction amount is $25/£30. The ICO ends on September 30th 2019.
Once the tokens are sold they will begin building properties. This is when the tokens will be listed on exchanges. Proof of work will drive the price of the tokens up which means you can then trade, sell and buy more vita tokens.
The team is made of 3 leaders
- James Heywood, CEO & lead blockchain
- Julie Hubberstey, CLO & Content/policy advisor
- Chris Jackson, CTO & Blockchain Developer