[ICO COIN] Hero Token
What is a Hero Token
Hero has been created to make 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. It does not represent equity in the company nor have any intrinsic value. All tokens in aggregate will have the right to receive up to 20% of interest income.
Hero Token details
Value to investors
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
Payout structure
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-rate the share of tokens owned.)
Symbol
HERO
Total supply
250,000 Ethereum (ETH) worth of Hero Tokens (equivalent to 50,000,000 Hero Tokens). The final number of Hero tokens is defined after the end of the token sale based on amounts contributed.
Token Distribution
Hero Tokens are created and given to buyers as soon as they give ethers to the sale contract. Trading and transferability only starts after the end of the token sale. From a practical point of view, this achieves the same thing as not giving the tokens until after the sale. But from a technical standpoint, we avoid the problem of the token handout at the end of the sale from running into the gas limit.
Hero Token price
1 HERO token is equal to 0.005 ETH (1 ETH will buy 200 Hero tokens)
Accepted Cryptocurrencies
Ethereum (ETH), ETH Classic, BitCoin (BTC), Ripple, LiteCoin, Waves
Presale
Friday, September 1, at 8pm (GMT+8) Presale has been delayed
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What purpose does the token actually serve? Is it just a currency being used to represent a certain package of values?
It sounds like it's kinda arbitrary, not much of a reason to use it.
Interesting.
Thank you for sharing!
There will be definitely a market for the token in unbanked areas /countries. I like it.
Yes this market is huge