Herotoken — The Future of Banking in Southeast Asia
Hero is an innovation in the banking sector and will help to use credit services in a convenient way for every consumer. Hero provides loans through South-East Asia.
With the launch of its crypto-monetary unit called Hero Token, HERO intends to expand the block chain of the fundamentals of unsecured loans. With the support of venture capitalists such as Softbank, Alibaba and 500 start-ups, the organization began working in the Philippines in 2015 and has since helped thousands of Filipinos to gain the access to credits.
In 2015, the company launched the first fully licensed online pawnshop in South-East Asia, which has already served thousands of customers. PawnHero practically turns mobile phones into pawnshops.
Hero developers want to revolutionize the banking industry. The company plans to make loans more affordable and disrupt the current financial system, which excludes 2 billion people from the banking system, using technology to create a more inclusive system.https://herotoken.io/
With the help of ICO, Hero intends to expand interest-free loans based on block chain. Hero can dramatically decrease costs and significantly reduce barriers to obtaining credit by making loans more affordable. And this supports entrepreneurship. https://herotoken.io/
Block chain can allow each person to have a unique and proven reputation that will enable them to participate on an equal level in the economy.
Using modern training methods to create unique identifiers with different attributes, social network profiles and transaction history, users will be able to create a much more reliable algorithm for issuing credit and managing risks.
To create both financial returns and positive social impact, Hero tokens have been created. Hero is more than just a token. This is a technology that can change the credit industry and help those who need it most.
Tokens designate the right to receive compensation, which is part of the interest earned. It does not represent a share capital in a company and does not have any intrinsic value. All tokens altogether will have the right to receive up to 20% of interest income.
Each token will be sold for 1/200 ETH, which means that 1 ETH will give you 200 Hero. For each token and crypto currency, you will receive Hero tokens in the exchange, as if you bought them with Ether or Bitcoin.
The way Hero tokens will be distributed:
- 80% of the tokens for the public
- 3% of the tokens for early advisors
- 2% of the tokens for generosity
- 15% of the tokens will be allocated to the founders for long-term alignment of interests
The distribution of tokens begins 2–3 days after the end of the token sale. All tokens will have the right to receive up to 20% of interest income. Tokens will be assigned in proportion to the fund provided during the sale.
* If you plan to buy a token for 50 ETH within the first 3 hours, you will receive 10,000 tokens plus another 3,000 tokens as a bonus (which is 30% of your purchase of 10,000 bills) and you will end up with 13,000 tokens.
Up to 20% of the distributed interest income is transferred to a specific Ethereum wallet (ETH) quarterly. Then, ETH is redistributed to all token holders in accordance with reasonable contract terms. The company will be able to use the percentage of profit to purchase tokens from the open market at the prevailing market price, so the value of the token should be positively correlated.
To participate in sales, you can use the following currencies: Ethereum, ETH Classic, Bitcoin, Ripple, LiteCoin, Waves.
To know more details about the Hero project and to participate in it, we recommend you to visit the following resources: