HubrisOne Token Swap

HubrisOne
HubrisOne
Feb 10 · 2 min read

A few weeks ago we announced during our 2020 road map announcement that as part of our on-going strategy we will be restructuring our utility token, currently known as HBRS, with contract address.


Added 16th Feb 2020

How do I participate in the Swap?

  1. Send your HBRS tokens to this address: 0xa587fe3482b0d167970dc1e00d0cfff3258fbf16
  2. WIthin 10 mins of sending your HBRS token you will receive HB1 tokens at a 10:1 ratio.
  3. Make sure you have gas (ETH) balance in your wallet to send out the transaction.

There are a few key changes coming and a few key things to note with the release of our new token.

  1. Firstly, the name is changing from HBRS → HB1.

2. Secondly, we are reducing the supply by 10x from 890 Million to 89 Million. This means that there is less supply in circulation.

3. We will be keeping our burn functionality based on user growth every quarter. We will continue to burn tokens on a quarterly basis until 50% of outstanding supply has been removed from circulation. Due to the reduction in supply, burn amount will be reduced from 1,000 tokens burned per new user to 100 tokens burned per new user.

4. The new token will remain on the Ethereum (ERC20) blockchain and can be stored securely and quickly on the HubrisOne wallet as usual as with all other ERC20 assets.

5. The new contract address for the new token can be found here

6. We are finalising a listing agreement with a well known exchange, and details of the listing will be released shortly. Due to the market

7. In order to participate in the swap, you must hold HBRS tokens within the HubrisOne wallet. All swaps will be completed at a ratio of 10:1 — this is due to the 10x reduction in supply. This means, if you have 1000 HBRS you will receive 100 HB1 tokens.

8. Tokens will be locked until the new HB1 tokens are listed on the upcoming exchange, 48 hours after listing, all HB1 tokens will be unlocked.

9. All swaps must be completed before the 2nd of March 2020, any swaps after this date will not be honoured or permitted.

10. After the swap date, all HBRS tokens will be removed, burned and erased from circulation. In addition, any HBRS tokens listed on exchanges will be delisted, as per our instruction.

Note: If you have HBRS tokens in staking, please email hello@hubrisone.com with subject: STAKING — if you would like to purchase HB1 tokens, please email hello@hubrisone.com with subject: TOKEN PURCHASE. Any general questions, please get in touch.

Many thanks

HubrisOne

    HubrisOne

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    HubrisOne

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