Edited: 8/15/2017 - New thread is continued here: https://bitcointalk.org/index.php?topic=2088817.new#newFor the bounty, all approved participants from the old version would still be included in the new spreadsheet.
The Future of Banking in Southeast AsiaHERO's mission is to revolutionize the banking industry to make credit more readily
available and affordable for the unbanked or underbanked starting in 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 and Alibaba, we started operating in the Philippines in 2015 and has since helped thousands of Filipinos to obtain access to affordable credit.
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HERO, the future of banking, provides collateralized und uncollateralized loans to the unbanked and underbanked consumer across Southeast Asia. Southeast Asia is the world’s fastest growing Internet region. It is the 4th largest Internet market in the world. Yet only 27% of the South East Asian population has a bank account. Most Southeast Asians and Filipinos might be unbanked, but they are tech- savvy digital natives who are ready ripe for an innovative solution.
Hero’s mission is to revolutionize the banking industry to make credit more readily available and affordable for the unbanked or underbanked starting in Southeast Asia. Our vision is to disrupt the current financial system that excludes 2 billion people from the banking system by leveraging technology to create a more inclusive system that allows people access to more affordable credit.
Backed by venture capitalists such as Softbank and Alibaba, and led by an award winning group of experts, we started operating in the Philippines in 2015 and have since helped thousands of Filipinos to obtain access to affordable credit. In 2015 we launched our first product, 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 instead, leverage technology, we are able to reduce interest rates by more than one half, providing access to cheaper credit that improves livelihoods.
With the success of our token sale, Hero intends to expand into blockchain-based uncollateralized loans. Hero could drastically lower the cost and significantly lower the barriers to obtaining credit, making loans more accessible and more affordable to those 2 billion people who are currently left behind. And it supports entrepreneurship and participation in wealth creation.
Blockchain can enable every person to have a unique and verifiable reputation-based identity that allows them to participate equally in the economy. Imagine a future where the unbanked and underbanked will become increasingly enfranchised as HERO provides them loans that can be tracked in full detail on the blockchain. Every transaction can count incrementally towards one’s reputation and creditworthiness. In this new future, when people repay micro-loans, they are on their way to securing more and larger loans to build their businesses.
HERO uses advanced machine learning techniques to build unique identities with a variety of attributes, social media profiles, previous work experience and transaction history among them that enables a far more robust algorithm for issuing credit and managing risk. Users start on the platform with a low credit score but this score can increase, allowing you to build a reputation that shows you are a reliable borrower.
Our core team has lived in emerging markets for many years and understands that unless there is an ecosystem in which bitcoin is accepted ubiquitously in an underbanked person’s world and is easily accessible, it will mean very little to those without access to financial services. As such we have a network of over 100,000 partners and vendors to provide convenient cash-in/cash-out options that mainstream consumer can easily understand and trust.
We have a strong management team, the necessary licenses to operate this business, a proven track record in Southeast Asia and some of the world’s best investors working with us. In our whitepaper, Hero conveyed a bigger vision and presented a solution that uses Blockchain technologies and crypto currencies to make loans accessible and more affordable to those 2 billion people who are currently left behind, starting in Southeast Asia.
Hero tokens have been created to create both financial return and positive social impact. Hero is more than just a token. It’s a technology poised to disrupt the lending industry and help those who need it the most. To learn more about Hero and our token sale visit our website at
http://www.herotoken.io/. Bonus tokens will be offered to those who commit early. Bounties are area available as well to those who spread the word.
Hero is the Future of Banking in Southeast Asia. The Future of Lending Belongs on the Blockchain. To read more, download the whitepaper here: http://www.herotoken.io/Hero Token The Hero token sale will start soon. 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 Only use the wallet address that we make available on our website at
http://www.herotoken.io/ prior to the token sale.
Token Name Hero Token (Symbol HERO) - The Future of Banking in Southeast Asia
The 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, 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.
The Hero Token percentages are as follows:
• 80% of available token are for sale open to the public
• 3% of available token are for early believers and advisors
• 2% of available token are for bounties
• 15% of available token are allocated to the founders for long-term alignment of interests
Value to Investors 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 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 an interest
• Social impact of helping underserved access affordable credit
• Buy back: The company may use a percentage of profits to repurchase the 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
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 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
http://www.herotoken.io/ before 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.
Hero Token Bonus ScheduleOne (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.
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