Hive Power postpones ICO to the release of the 1.0 platform and to comply with regulations

We announce our decision to postpone the beginning of the crowdsale to the 12th till the 30th of June, 2018 when the platform Hive Power 1.0 will be released. This will ensure our compliance with the new FINMA regulations thereby increasing advantages for both Hive Power and our users.

A few weeks ago, the Swiss Financial Market Supervisory Authority (FINMA) released a set of guidelines to provide a regulatory framework for ICOs. In these guidelines, FINMA focuses on the function and purpose of the tokens, by differentiating between utility and asset tokens.

Consequently to the new regulations, we decided to postpone the crowdsale to the 12th of June, 2018 when the 1.0 platform will be released. This will confer an actual utility to our HVT token, since it will be possible to use it immediately on Hive Power 1.0 platform.

Although we already successfully implemented a demo on a simulated testbed, we feel that the implementation of the Hive Power 1.0 platform will strengthen our position as a fully functioning product as required by the FINMA regulations.

Since we are using ICOEngine for our crowdsale and KYC, there won’t be any changes for those who already registered on the platform and followed our profile:

For those who still aren’t registered on the ICOEngine platform, you can follow the step-by-step guide here.

Additional airdrop

To reward our community for its support, we launched an additional airdrop to registered ICO Engine Tier 2 accounts. The 500’000 HVT tokens allocated to the airdrop will be evenly distributed 15 days after the ICO to those Hive Power supporters who have:

  • A tier 2 Eidoo wallets with at least 0.01 ETH at the start of ICO
  • Joined Hive Power telegram

Here you can already find the form to register to the Hive Power airdrop:

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At Hive Power we are enabling the creation of energy sharing communities where all participants are guaranteed to benefit from the participation, reaching at the same time a technical and financial optimum for the whole community.

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