Hero token - The future of banks that provide loans with guarantees to uneducated and unrestricted consumers throughout Southeast Asia based on blockchain

siskaaulia (25)in #blockchain • 6 years ago

HERO TOKEN

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What is a Hero?

Hero is the future of banks that provide loans with guarantees to uneducated and unbounded consumers throughout Southeast Asia. With the launch of a crypto unit called Hero Token, HERO intends to expand into a blockchain-based, no-load loan. Supported by venture capitalists such as Softbank, Alibaba and 500 Startups, the organization began operations in the Philippines in 2015 and has since helped thousands of Filipinos gain access to affordable credit.

Hero is the future of banks that provide loans with guarantees to uneducated and unhealthy consumers throughout Southeast Asia. Countries such as Indonesia, Thailand, Malaysia, Singapore, Vietnam, Brunei, Myanmar, Cambodia, Laos, East Timor and countries adjacent to southeast asia continent will feel the presence of Hero Token.

The southeastern region is the fourth largest in the internet market, but slightly below 30% of the population has a bank account that seems very strange, because it is one of the richest, has great potential and breadth. Therefore, the overall core, core and main task of Hero is to make more affordable and cheaper loans in the region, even those unable to use banking services and functions can buy it.

The entire history of the Hero site begins in 2015, when, with the support of venture capitalists and a large group, leading the work in the Philippines, since then tens of thousands of Filipinos who have been unable to use banking services and accounts began to borrow and use other banking services and Mercy Also, by 2015, a truly transparent and licensed online pawnshop is launched in the region. This is called PawnHero.

We are introducing HERO, the future of banking in which He will provide secured loans to unbanked and underbanked customers in Southeast Asia. With this token sale, Hero intends to develop into a blockchain / blockchain-based uncollateralized loan-based unsecured loan. Supported by venture capital companies such as Softbank and Alibaba which they share the same vision with us. Our organization, PawnHero has started operations in the Philippines since 2015 and by then, we have helped thousands of Filipinos gain access to more affordable credit.

What is Hero Token?

HERO is built as an ERC20 token on the Ethereal blockchain and identified through the ticker symbol Hero.

Token sales is an event in which the crypto currency project sells some of its tokens to early adopters and fans in return for funds.

Token Hero allows the public to participate in PawnHero’s success stories, rather than restricting them to the small amount of venture capital funds selected. By issuing Hero tokens, tokenholders will benefit from PawnHero’s future success. Token sales are fast, transparent and efficient for this purpose appropriately.

Vision of the Hero Mission

Hero has a mission to revolutionize the banking industry that aims to make credit picking easier and more affordable for people who do not have bank accounts / unbanked or non-bankers / underbanked in Southeast Asia.

Solution

Uber has nothing to do with cars, but it created an entirely new transportation experience. The value of having a physical network is diminishing — especially a traditional branch network.[9] Branch overhead and associated staff costs make up 60–65% of a total cost base for a brick-and-mortar lending company with an extensive branch network. Moreover, roughly 60–70% of employees are doing manual process-driven jobs and these inefficient processes add to the cost of running a physical network. It is more error prone and there is a long process of human decisions involved. We believe banks tomorrow will look fundamentally different from banks today. But by the time they get there new entrants have a window of opportunity to innovate better value at lower cost, and create a better customer experience and Hero wants to be the one that leads that change.

Introducing Hero, the future of banking that provides collateralized loans to the unbanked and underbanked consumer across Southeast Asia. With the success of this token sale, Hero intends to expand into blockchain-based uncollateralized loans. Backed by venture capitalists such as Softbank and Alibaba, the organization started operating in the Philippines in 2015 and has since helped thousands of Filipinos to obtain access to affordable credit.

Our first product was launched in 2015 and is the first fully licensed online pawnshop in Southeast Asia. PawnHero essentially turns mobile phones into pawnshops. Because we don’t maintain a physical pawnshop and leverage technology, we are able to reduce interest rates by more than one half, providing access to cheaper credit that improves livelihoods. We do not limit ourselves to jewelrybut also accept among other collateral electronics, watches and handbags. Filipinos no longer need to leave the comfort of their homes in order to get a loan. In the past two years, we’ve provided loans to individuals that would have been turned away by the traditional pawnshops due to the type of collateral they pawned as well as by banks because they have no credit history. We’ve improved access to credit by using the internet and we want to scale our impact using Blockchain.

Value for Investor

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. 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. 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 are strategically designed to add value to the Hero network :
• Reward bearing tokens — like a interest
• 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.

There is no risk of interest default on pawn loans granted by PawnHero. PawnHero withholds the entire interest due over the term of a pawn loan up front by deducting the interest from the proceeds credited to the customer. As an example, a 1,000 Philippine Peso (PHP) loan with a 3 month term and a monthly interest rate of 2.99% would earn 89.7 PHP of interest. PawnHero only releases 910.3 PHP to the customer and thus collects the full 89.7 PHP of interest with no risk of interest default. After the 3 month term of the loan, the customer is required to redeem the loan by paying 1,000 PHP. Depending on the underlying collateral PawnHero offers the customer to renew the loan at which point additional interest is due. Investors receive 20% of the interest collected. So that is the 20% of 89.7 PHP. For the quarterly respectively monthly distribution of interest, the sum of all loans released within the period are used.

To participate in the Hero token sale you can send the following currencies from a wallet you directly control (do not send from an exchange) to the Hero wallet.

Ethereum (ETH)
ETH Classic
Bitcoin (BTC)
Ripple
LiteCoin
Waves
The wallet address will be made available on our website www.herotoken.iobefore the actual token sale. Hero token will be delivered to the purchaser after the end of the token sale. Transferability will start from the first day of trading, which is planned to start after the token sale ends in September.

After this token sale, no additional Hero tokens will be created.

Token

On TBD at 8PM Singapore Time we 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.

Each Hero token will be sold for 1/200 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.

Only use the wallet address that we make available on our website at www.herotoken.io prior to the token sale.

Hero Token (Symbol HERO) — The Future of Banking in Southeast Asia

The amount of tokens that are created for the Hero chain are all dependent on how many coins are sold during the token sale. A maximum of 250,000 Ethereum (ETH) tokens will be accepted for the purchase of Hero tokens in this token sale. The maximum amount contributed will in turn represent 80% of all Hero tokens. Since we 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.

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Bonus Schedule

One (1) ETH is equal to 200 Hero tokens. That means that one Hero token is worth 1/200 ETH. Extra tokens are offered to those who commit early. Please see the table below for the bonus token schedule.

• Day 1 (first 3h) +30% token bonus;

• Day 1 (3:01h-24h) +20% token bonus;

• Day 2 and day 3 +10% token bonus;

• Day 4 to day 7 +5% token bonus;

• Day 8 to 14 2.5% token bonus;

• After day 14 0% token bonus;

Bonus tokens are allocated on top of the tokens you are purchasing. For example, if you are planning to buy tokens for 50 ETH within the first 3 hours, you will receive 10,000 tokens plus another 3,000 tokens as a bonus (which represents 30% of your 10,000 token purchase), so 13,000 tokens in total.

Bounties :

• Facebook campaign — 5.00% of bounty pool;

• Twitter campaign — 5.00% of bounty pool;

• Reddit Campaign — 5.00% of bounty pool;

• Slack / Telegram Campaign — 5.00% of bounty pool;

• Creatives (Graphics and Videos) — 5.00% of bounty pool;

• Media support campaign (Blog Articles, Press) — 15.00% of bounty pool;

• Signature Campaign — 10.00% of bounty pool;

• Translation support — 15.00% of bounty pool;

• Exclusive support — 30.00% of bounty pool;

• Bug Hunt and Creative Development– 5.00% of bounty pool.

Bounties are provided when the token sale ends. At the end of the token sale all sold tokens are considered to be 80% of the total supply. The remaining 20% are then distributed among founders and advisors and bounties according to the information above

Roadmap

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