Transparent, decentralised and with focus on the community is how we manage Hubii Network. That is why we update you on all of our work with partners. And in that same spirit, we are sharing the information on the ownership of Hubits (HBT) held by Hubii AS and Hubii Pte Ltd.
- 70% of total generated tokens were for sale in the Hubii Network ICO. Hubii Pte Ltd’s parent company, Hubii AS, guaranteed the success of the token sale by acquiring the number of outstanding tokens needed to ensure that the minimum funding cap of 18,000,000 HBT. In that spirit, as per our earlier post, the majority of the tokens acquired by Hubii AS are to be locked up in escrow. They will be divided into four equal tranches. The first is to be available as a growth fund, the others locked up for 12 months and then released over a further 36 months in monthly stipends.
As per our white paper, in addition to the 70% of tokens that were for sale, 30% were reserved for the following purposes and have been placed in the corresponding multisig / escrow wallets:
- 10% of the generated tokens were reserved for key team members and advisors.
- 5% of the tokens will be held as a liquidity pool for the platform.
- 5% of the tokens will be used in the first year in building partnerships which are critical for the success of the platform.
- 10% of tokens will have vesting periods attached to them and will be used as further platform funding as well as for building partnerships. 5% will be locked up for exactly one year from the date of the sale. 5% will be locked up for 2 years from the sale date.
Token holding addresses :
- Y1 partnership fund 0x3B08A91781e4742eE42246809552e0BB7F8C8977
- Y2 partnership fund 0x9bBa289a515FBeAE242dFe9E47212aCFAF4886be
- Y3 partnership fund 0x7ebDc6eEa1ac7a0ec3Df52beb1d9a4e4f61C0085
- Liquidity fund 0x7d85965ceD62fF62F137bb986B19DfD6e37E7f7d
- Growth fund 0x38291B8A510161b890Af154e81c88a98C4505Ae6
- Buyback tranche 1 0xCe17CD05734d9c8C4376D1AC2E699581C41f4030
- Buyback tranche 2 0x35E2E7fE71f90580e6CbdB7F7a482576681f2cee
- Buyback tranche 3 0x2DE6986D94ef9d3713C3d8EAbea9CE58De5921C1