8 February 2018
The Holo team has been doing everything in our power to ensure a great—and ethical—ICO launch. We have been eagerly awaiting information from the regulator in Liechtenstein to confirm when we can launch. The lawyer has been kind enough to say this will likely be in two weeks, so we can stop thinking it is "any day now," and we want to also give you that comfort. To read more about how and why we are delaying our sale, read our post on bridging from the old to the new world.
We will be sure to let you know when we have an exact start-date for the ICO, and give you enough time to see the announcement and prepare yourself. That announcement will be posted here, emailed to those whitelisted, and shared on our social media channels and at chat.holochain.net.
Our Crowdfunding campaign has ended quite successfully, and it has shifted into InDemand which means you can still make purchases there, and those purchases still increase the supply of the ICO.
The Holo team
How our ICO works:
Our ICO, Initial Community Offering, catalyzes the ecosystem of Holo. We offer a pre-sale of cloud-hosting services in the form of transferable ERC20 tokens called HoloTokens (HOT) on the Ethereum public blockchain. As an asset-backed currency, the supply of HoloTokens is linked to the amount of distributed computing that the network will be able to provide (the number of HoloPorts and developer events sold through the crowdfunding campaign).
We intend to run a sale that is as inclusive as possible, meaning future Holo hosts and users will not be pushed out from participating by a few people buying all available tokens within minutes. We also want to act responsibly by having a meaningful cap on the amount of tokens we allow ourselves to sell, instead of just raising as much money as possible.
|Whitelist Process Opens:||9 January 2018|
|ICO Opens:||Exact Date Coming Soon!|
|ICO Closes:||Exact Date Coming Soon!|
|Token Information:||HoloTokens (HOT) are temporary ERC20 tokens purchased with ETH which will become exchangeable for Holo fuel when the Holo ecosystem launches later in 2018. More information about HoloTokens.|
|Token Pricing:||10,000 HOT costs €1 worth of ETH (set when ICO opens)|
|Opening Available Supply:||25,000,000,000 HOT (€2.5M)|
|Adaptive Supply:||Supply increases each day based on a fixed formula taking into account HoloPort and developer event sales from our crowdfunding campaign|
|Hard Cap:||250,000,000,000 HOT (€25M)|
|Minimum:||€1M. If we raise less than this we will return the ETH to all participants, by executing an off-chain script not included in smart contract code, and will fulfill the project through other funding strategies|
|Total Supply:||At the close of the ICO, 33.3% more HoloTokens than were purchased will be minted for the Holo organization and team, such that 25% of all tokens are held by the organization and team, and 75% are held by the community|
|Purchase Maximum:||10% of the day's publicly available supply|
|Purchase Minimum:||0.1 ETH|
|KYC:||All participants are required to verify their identity before participating|
|Exclusions:||Due to legal and regulatory uncertainty, residents and citizens of the US, China, and South Korea are blocked from participating|
Daily Distribution of HoloTokens
The fact the people will buy a token to speculate does not mean there is a demand for the product or service that token represents. We are leveraging our crowdfunding campaign to indicate demand for our product and to confidently estimate the size of our initial community of developers, hosts, and users. New tokens are released by a fixed formula that estimates projected demand based on the sale of HoloPorts, and developer events.
- Each day’s sales of hosting boxes and developer events expand the supply of tokens according to a fixed formula. This means the total token supply is not determined in advance. Once per day, the newly released amount of HoloTokens will be written to the blockchain enabling further token sales.
- It’s possible that demand for tokens will exceed the amount released on any given day. The only way to increase the day’s supply of tokens is to make purchases in the crowdfunding campaign.
- We don’t allow any single wallet to buy more than 10% of the daily token supply.
- We log the amount of available tokens and sold tokens for each day of the sale period and make these statistics visible on our ICO webpage.
Funds received from the ICO will be used to launch and support the Holo ecosystem. You can learn more about allocation of funding in our green paper.