$HVN used to purchase invoices
(total amount of $HVN used: 0)
$HVN token questions
What type of token is $HVN?$HVN is a utility token, it is an Ethereum ERC-20 token.
What is HVN?HVN is used to access the Hiveterminal platform and pay fees when purchasing invoices.
How many tokens are there?500,000,000 HVN tokens were issued. As HVN is an ERC-20 token they are not mined but issued on a smart contract on the Ethereum platform.
When was the ICO?The initial coin offering ran from the 3rd of July 2017 to the 14th of August 2017.
Platform access:Each verified platform user must hold a minimum of 50 HVN to access the platform. This allows the user to view the invoices available for purchase on the market.
Invoice purchasing:When you purchase an invoice on Hiveterminal, you have to pay a fee equivalent to 1% of the amount funded. This fee has to be paid in HVN. The euro value of HVN is set at twice its value at the day’s exchange rate.
Future uses:Various ideas for token usage within the terminal have been discussed. These include the purchasing of invoices and credit rating reports for businesses. The team has put these items on hold for now to focus on delivering more users to the platform and more invoices. When the market value of the token stabilises more and increases in value, the hope is the team will go back and look at some of these ideas again.
Can’t the team just get rid of HVN?This is something that has been extensively discussed within the community. The team has repeatedly reiterated that the HVN token is at the center of the platform and will remain so. They have said that if they plan on selling HVN, they will make a public announcement before doing so.
What is with that jump in the graph? 🐘The value of the token within the platform was set at a fixed rate of 1HVN = €1. This meant if you bought an invoice on the platform for €500, the 1% purchasing fee of €5 only cost 5 HVN. As you can imagine, this resulted in very few tokens being used in the purchasing of invoices. However, the team did this with good intentions to provide invoices buyers with a consistent experience. The problem with this model was it was not a good driver of token demand or use. In February, the model was adjusted and changed to reflect the real market value of the token. The invoice purchasing fee is now dynamically set. The OTC value of HVN is set at double that day’s exchange rate, massively increasing HVN usage in the process.
Are tokens burned?No, tokens used on the platform are locked by the team in a wallet. There have been many robust discussions between the community and the team on whether tokens should be burned. The team does not currently see token burning as a productive approach.
Has the team sold any tokens?No, the team has not sold any of the tokens in its public wallet: 0xdb969febe87e23d6d64b918d01b5529310511c47. Similarly, the team has not yet sold any of the tokens it has collected in fees from platform use. Note that the team locked their allocation of tokens for 1 year after the end of the ICO, during which time the price of each token touched approximately $0.38. The team have consistently stated they have no intention to sell in the short-term, and will make a public announcement before making any change to this policy.