BennyFi Media Kit - PledgePool

Bio: Brian Young has over 25 years of experience in software development. He is a subject matter expert in billing, consumer payment, identity, and blockchain. He founded Thor Technologies and developed the Xellerate platform, an early enterprise identity and access management solution. Thor caught the attention of Oracle, leading to its acquisition and subsequent integration into Oracle’s Identity Manager platform. Brian is the CEO and Founder of BennyFi, a “pooling as a service” platform that addresses the three shortcomings of traditional finance: principal risk, cost, and access by making the tools of capital formation available to everyone.

Mr. Young’s journey is marked not only by expertise but also resilience. After establishing Thor Technologies at One World Trade in 2011, the events of 9/11 posed unprecedented challenges. Undeterred, Brian and his team worked diligently to rebuild the company. Brian is an alumnus of Pace University, holding a B.A. degree in Accounting Information Systems.

John Wotherspoon

Email: john.wotherspoon@bennyfi.io

Telegram: https://t.me/johnwotherspoon

Twitter: https://twitter.com/JohnWother87463

LinkedIn: https://www.linkedin.com/in/johnwotherspoon/

Bio: John Wotherspoon brings over 25 years of intricate experience in development and integration systems. A recognized authority in message-based architecture, integration, blockchain architecture, and token economic modeling, he fervently champions the principles of decentralization. Beyond technical expertise, John’s passion resonates in his advocacy for autonomous systems and methodologies, reinforcing his belief in a decentralized future. John is an esteemed alumnus of Niagara University where he earned a Bachelor’s degree in Economics and Finance.

BennyFi

BennyFi is a decentralized fundraising platform that addresses the three biggest short comings of traditional finance: principal risk, cost, access. BennyFi makes capital formation accessible to anyone.

Introducing BennyFi, a trailblazing platform engineered to redefine the paradigm of fundraising. At its core, BennyFi empowers users to compose distinctive pooling mechanisms tailored to a myriad of funding goals. Distinctively, our model leans on generating funds through yield, not the principal. This decentralized approach, bolstered by community governance, ushers in a new era of diversified token utilization for pooling and funding allocation. With BennyFi, the cumbersome days of centralized funding are behind us. Instead, we champion the reuse of capital for ventures and projects, ensuring a more efficient capital flow. Engage and energize your user community with our unique option for intermittent rewards, ensuring motivation and active participation. Designed to cater to a wide spectrum of use cases and communities, the BennyFi platform stands poised to be a canvas on which our vibrant community paints new, groundbreaking funding models. At the heart of our platform are three fundamental components: the Reward Source, Staking, and Payout. Join us as we embark on this journey, and let’s co-create the future of decentralized, composable funding with BennyFi.

PledgePool

Highlights

BENY Token – BennyFi functions with the support and security provided by the BENY Token. This token not only empowers the platform’s features but also ensures its trustworthiness and stability. The BENY Token is an ERC20 token.

Pledge yield, not principal – BennyFi uniquely harnesses yield, rather than principal, to fuel its pools, ensuring a sustainable financial mechanism. Once the staking period concludes, users receive their principal back in full, while the generated yield is strategically utilized to meet the objectives of the pools. This approach maximizes user participation and trust, knowing their foundational investment remains intact.

Composability – BennyFi offers a unique platform where its community can craft and establish funding models using the Pool Creation interface. This interactive tool empowers users to design and tailor funding mechanisms to their specific needs.

Platform as a Service – BennyFi operates as a Platform as a Service (PaaS), granting its community the capability to seamlessly integrate BennyFi’s powerful features into their own user interfaces. This flexibility enables users to harness and personalize the strength of BennyFi directly within their custom environments.

PledgePool – Leveraging the capabilities of the BennyFi platform, we crafted PledgePool, an operational application that emphasizes pools curated specifically for social funding. With its open-source framework, PledgePool not only provides developers a hands-on example of its potential but also stands as a ready-to-use tool for the general user community.

Level Up / Level Down– Within the BennyFi ecosystem, users have the unique opportunity to “level up” and take on roles as beneficiaries or pool managers. This structure offers members of the BennyFi community the autonomy to both compose their distinct funding pools and actively manage them, fostering a dynamic and participatory environment where users can truly shape their financial engagements.

Community Governance – BennyFi is a truly community-driven platform, with governance vested in the hands of its users. The governance board, constituted of users who’ve risen to pool manager status, deliberates and votes on operational decisions encapsulated by internal system variables. To maintain equity and circumvent any concentration of power, BennyFi employs a “lottocracy” model, where pool managers are randomly chosen to participate in governance, ensuring a fair and representative decision-making process.