How are Hive Project funds held? SAFETY is our watchword!

Domen Ursic
Aug 22, 2017 · 2 min read

As part of our focus on maintaining 100% transparency and keeping our community fully updated, we would like to explain how the funds raised during the Hive Project ICO are being secured.

In accordance with the Hive Project milestones and roadmap presented before the start of our ICO, we are currently working 24/7 to ensure the SAFE distribution of the HVN tokens to our contributors and bounty campaign participants.

With our sights set firmly on the future, our primary objective now is to create long-term value for our contributors. With this in mind, we will be announcing the exchanges where HVN will be listed in the days ahead, fuelling liquidity and enhancing the already substantial appeal of HVN tokens, thereby raising their value and adding value to contributors.

How are the funds held?

In order for Hive Project to continue working and covering current expenses, and to mitigate any concerns over BTC and ETH volatility, part of the funds raised will be converted to fiat and held on the Hive Project corporate bank account. These funds will be used ONLY for business overheads, and our accounts and operations will be subject to all applicable regulatory and auditing requirements.

How are the rest of the funds secured?

All of the funds raised during the ICO are held in multi-sig wallets with strong control and security policies in place. There will be 6 keys, of which 4 will be required to process all outgoing transactions.

These keys will be held by:

— LEGAL (2)

— ESCROW (1)

— TEAM MEMBERS (3).

In order to ensure security, the keys are held on 3 different continents and ALL outgoing transactions require verification by multiple parties.

Hiveterminal

Peer-to-Peer Invoice Financing Platform

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Domen Ursic

Written by

Strategic Communications | Marketing | PR | Campaigns

Hiveterminal

Peer-to-Peer Invoice Financing Platform

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