We at Hubii are tremendously heartened by the first week of our token sale, which has shown that there is support for and excitement about our vision for the new content marketplace of the future.
To celebrate the commitment shown already, Hubii Network’s parent company, Hubii AS, has decided to guarantee the success of the token sale by buying the number of outstanding sales tokens needed to ensure that the minimum funding cap of 18,000,000 HBT. This will ensure that the network will be built and the project will commence.
We have received a lot of positive feedback from the community and potential new partnerships are in the making — two things that encouraged us to continue with the project the way we envisioned it all along: transparent, decentralised and with focus on the community.
In that spirit, the majority of tokens purchased by Hubii will be locked up for 36 months, released in monthly stipends. The tokens for the first 12 months will not be released until month 13.
As a way of showing our gratitude and appreciation for the tremendous support we have seen so far in the community we have decided to send a token of appreciation back to the community: Upon closing of the Token Sale we will immediately airdrop a 5% bonus (e.g. if you bought 10 ETH of HBT you will get the equivalent to 10.5 ETH worth of HBT) to everybody who joined the sale before block number 4,223,780. This is our thanks to those that decided early on to believe in Hubii Network and support our approach.
We appreciate your continuous support and future commitment in making Hubii Network a very successful project.
NB: We have added some Q&A for further details
- Q1: What is the deal?
- A1: Hubii AS will be acquiring the tokens at full price, no discount.
- Q2: Does not affect the value of the token?
- A2: No, it does not. Furthermore we will provide you with an extra 5% as a reward given you bought before block number 4,223,780.
- Q3: What will you do with the tokens?
- A3: We will be transparent with their usage and the liquidation process if we chose to liquidate. If we want to hold them we will lock them so they cannot be used on a sybil attack on our own network.
- Q4: Why are you doing this?
- A4: Because we want to secure the project moving forward as we have ongoing discussions with partnerships. The response from the industry has been much better than anticipated and we know we can give long term value to our existing token holders. Our excitement for the project is continuously growing.
- Q5: Is your ICO struggling?
- A5: No it is not but we decided to say “No” to whales demanding big discounts which diminished our chances to complete the ICO earlier in time. In our ICO, supporters might be incentivised to join later on, however we don’t want to leave it to chance as we want the project to go ahead and therefore we want to secure it and continue working.
- Q6: Is discount given to Hubii to buy the tokens?
- A6: No discount is given on the transaction.