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EtherCamp: Crowdsale for New Hacker Gold Token

FROM OFFICIAL RELEASE

Developer of Ethereum-based platform devoted to innovation and incubation of ideas will host a nine-week sale starting Oct. 20.

NEW YORK, NY October 10, 2016 — EtherCamp is proud to announce a crowdsale of its new token, Hacker Gold (HKG), set to begin Oct. 20 and will run through the course of the company’s second annual hackathon, kicking off in November. The crowdsale will be safe-capped at 4 million ether, however the company states this is by no means a funding goal or objective.

Roman Mandeleil, lead developer at EtherCamp, said that funds raised during the HKG crowdsale will go towards further development of the Virtual Accelerator platform, which is currently in its second version and preparing to move into its third iteration.

EtherCamp’s objective is to create the ideal innovation environment for startups by utilising blockchain technology.

The team notes that HKG will ultimately have a finite supply that will not be diluted with additional token creation. Future virtual accelerators, according to EtherCamp, will be exclusively funded with the HKG issued during this crowdsale.

As explained in EtherCamp’s white paper, HKG will act as “reputation” for the camps in the upcoming hackathon. Hacker Gold also allows interested parties to acquire tokens issued by the individual startups during the incubation period of the competition. Possession of a camp’s tokens also provides preferred voting rights on the way that funds are used. Tokens issued after the hackathon will not come with any preferred voting rights.

Hacker Gold will be made available for sale for nine weeks. The crowdsale kicks off four weeks before the hackathon begins and will end after the five-week event is complete.

Tokens will be valued according to the following breakdown, with “P(i)” referencing the period of time:

  • P1: Week 1–2: (200 HKG) for 1 ether
  • P2: Week 2–4: (200 HKG — 150 HKG) for 1 ether
  • P3: Week 5–6: (150 HKG) for 1 ether
  • P4: Week 7–9: (150 HKG — 100 HKG) for 1 ether

Visit hack.ether.camp/whitepaper for further information regarding the specific formula being applied for each week’s valuation following P1. There will be no premine or preallocation, according to EtherCamp.

EtherCamp’s accelerator is an Ethereum-based platform where teams — referred to as “camps” — compete with each other for the chance to show their ideas to mentors, potential investors, and, if an idea is successful, acquire early adopters.

About EtherCamp

EtherCamp is a collection of tools for the Ethereum protocol, which includes full implementation of the Ethereum protocol. EtherCamp is the developer behind EthereumJ, Ethereum Block Explorer, Ethereum Studio, the popular IDE used to develop smart contracts. Also, Ethereum Harmony, a tool for managing an independent peer in any Ethereum-based network. The company boasts a robust developer network and a 2,000-member strong slack community.

Link to video on Virtual Accelerator

For media inquiries, contact:

Steve Taylor
steve@ether.camp