HERO ICO: The Future of Banking in Southeast Asia
Hero is the future of banks that provide loans with guarantees to unlabeled and unfounded consumers in 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.MISSIONHero's mission is to revolutionize the banking industry to make credit more accessible and affordable by unbanked or underbanked, starting in Southeast Asia.
What is Hero Token?
Hero has been created to generate positive financial and social benefits. The Hero Token represents the right to receive the prize, which is part of the earned interest income. It does not represent equity in the company nor has intrinsic value. All aggregate tokens are entitled to receive up to 20% of interest income.
PARTNERSHIPS
I am actually exited that this project is backed by alibaba.com! Everyone knows what alibaba is and how huge they are. For those who don’t know what alibaba is here is explanation
“Alibaba is the world’s largest retailer as of April 2016 surpassing Walmart with operations in over 200 countries as well as one of the largest Internet companies. Its online sales and profits surpassed all US retailers (including Walmart, Amazon and eBay) combined since 2015. It has been expanding into media and entertainment industry, with revenues rising 3-digit percent’s year on year”
Their market cap rose to USD$442 billion in August 2017I personally use their services and I am really happy that they support HERO.
Benefits of a token
Hero has been created to create positive financial and social impacts.
The Hero Token represents the right to receive the prize, which is part of the earned interest income. All aggregate tokens are entitled to receive up to 20% of interest income.
Evidence will be pro-rated on funds provided during the token sale. Up to 20% of interest income that can be distributed is transferred to specific Ethereal (ETH) wallets every three months.
ETH is then distributed to all holders of the Hero token in accordance with the conditions of the smart contract (that is, the share of interest earned in proportion to the share of the token owned). The long-term hero will seek to distribute the award in a shorter period of time.
With monthly reward distribution target.In addition, a company may use a profit percentage to buy back Hero tokens from an open market at prevailing market rates, therefore the token value must be positively correlated with Hero's success.
Token DistributionHero
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 CryptocurrenciesEthereum (ETH), ETH Classic, BitCoin (BTC), Ripple, LiteCoin, Waves
In conclusion, I want to note that the project is worthwhile and useful. I'll leave the links to the official sources below so that each of you can get to know the project personally.
Link to the site - https://herotoken.io/
Whitepaper - https://s3-ap-southeast-1.amazonaws.com/herotoken/Hero+Whitepaper_081417.pdf
Link to the announcement on the forum - https://bitcointalk.org/index.php?topic=2088817
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1017518