ICO Review – Hero Token (The Future of Southeast Asian Banking)
Hero is the future of banking that provides collateralized loans to the unbanked and underbanked consumer across Southeast Asia. With the launch of its crypto-currency unit called Hero Token, HERO intends to expand into blockchain-based uncollateralized loans. Backed by venture capitalists such as Softbank, Alibaba and 500 Startups, the organization started operating in the Philippines in 2015 and has since helped thousands of Filipinos to obtain access to affordable credit.
what is hero token?
HERO is built as an ERC20 token on the Ethereum blockchain and is identified through the ticker symbol Hero.
The token sale is an event in which the crypto-currency project sells part of its tokens to early adopters and enthusiasts in exchange for funding.
The Hero Token enables the community to participate in PawnHero’s success story, rather than limiting it to a small, selected number of traditional venture capital funds. By issuing Hero tokens, tokenholders will benefit from PawnHero’s future success. A token sale is fast, transparent and efficient for exactly this purpose.
BENEFIT FROM THE TOKEN
Hero has been created to create both financial return and positive social impact.
A Hero token represents the right to receive a reward, which is part of the interest income earned. All tokens in aggregate will have the right to receive up to 20% of interest income.
The tokens will be assigned pro rata to the fund provided during the token sale. Up to 20% of the distributable interest income is transferred to the specific Ethereum (ETH) wallet on a quarterly basis. The ETH is then redistributed to all holders of Hero tokens according to the smart contract conditions (i.e. the stake of interest income is received pro rata the share of tokens owned.) Long term Hero will strive to distribute the rewards in a shorter period of time, with the target of monthly reward distribution.
In addition, the company may use a percentage of profits to repurchase Hero tokens from the open market at the prevailing market price, therefore the value of the token should be positively correlated to the success of Hero.
Hero tokens are strategically designed to add value to the Hero network:
Reward bearing tokens that generate interest income
Social impact of helping underserved access affordable credit
Buy back: The company may use a percentage of profits to repurchase Hero tokens from the open market at the prevailing market price, therefore the value of the token should be further positively correlated to the success of the project
A maximum of 250,000 Ethereum (ETH) tokens will be accepted for the purchase of Hero tokens in this token sale.
Each Hero token will be sold for 1/200 ETH (1 HERO token is equal to 0.005 ETH), meaning 1 ETH will give you 200 Hero tokens. For each token and cryptocurrency, you will receive Hero tokens in exchange, just as if you bought them with Ether or Bitcoin instead. The exchange rate that will be used to calculate this will be based on the rate of the currency or token you would like to use vis-a-vis Ethereum.
TOTAL SUPPLY OF THE TOKEN
The amount of tokens that are created for the Hero chain are all dependent on how many coins are sold during the token sale. The maximum amount contributed will in turn represent 80% of all Hero tokens. Since don’t know the total that will be sold, the token sale operates based off of percentages to ensure fairness for all. Should the maximum amount be reached prior to the end of the sale on TBD, which is 4 weeks after the start of the token sale, we will cut off the token sale. In the event that such maximum amount is not fully funded by the end of the token sale, the percentage of 80% of all tokens will be adjusted accordingly, with the difference between such lower amount and the maximum amount being reserved for future token sales.
No tokens are pre-issued before the end of the crowdsale event. After this token sale, no additional Hero tokens will be created.
THE TOKEN SALE START
announcing exact date of the token sale soon. Please subscribe to our newsletter or email tokensale@herotoken to be amongst the first to know.
At that time hero token will offer 80% of all Hero tokens to be created for purchase by the public in the Hero Token Sale under the ticker symbol Hero.
The remaining 20% of all Hero tokens will be distributed to bounties, early believers, advisors and founders to ensure long-term alignment of interest and commitment to the tokens and their future value.
Hero token distribution starts 2–3 days after the end of the token sale.
HOW YOU CAN PARTICIPATE IN THE TOKEN SALE
Use only the wallet address that make available on our website at www.herotoken.io prior to the token sale.
Please subscribe to hero token newsletter or email email@example.com to be amongst the first to know.
– ICO participation link: https://membership.herotoken.io/r/M5Fm0QSZY6Q
– Homepage: https://herotoken.io/
– whitepaper: https://s3-ap-southeast-1.amazonaws.com/ herotoken / Hero + Whitepaper_111617.pdf
– Facebook: https://www.facebook.com/HeroTokenIO/
– Twitter: https://twitter.com/herotokenio