SmartDec

Auditing of Hive Power crowdsale contracts

Hive Power crowdsale and HVT token smart contracts were audited by SmartDec. The results are published here, on the SmartDec blog.

We are glad to see that no critical issues were reported. A few medium severity issues were found. In the meantime all of them have been addressed, either by changing the code, or by justifying the design choices. Most the low severity issues have also been fixed. None of the remaining low severity issues affects safety.

In order to be as transparent and exhaustive as possible, in this post we discuss the design choices related to the medium severity issues identified by SmartDec in their report, which in our opinion need an additional explanation.

Discrepancies with the whitepaper and documentation

Point 3: we decided not to use an oracle to change the ETH/USD rate. Token price will be in fixed in Ether. Exchange rate will be set on Thursday 7th of June at 12:00 PM UTC. We will then deploy the contracts on the Ethereum mainnet.

Overpowered owner

In order to be fully-compliant with the new rules decided by FINMA (the Swiss Financial Market Supervisory Authority), the token will be transferable only when a MVP (minimum viable product) will be provided by Hive Power. Since we started Hive Power, we have always tried to address our project considering the Swiss directives.

Check of calls at the end of crowdsale

See Overpowered owner

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: https://icoengine.net/ico/hive-power

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: https://goo.gl/forms/N1Ytv6pYIhRETkvE3

Something isn’t clear? For questions please join our Telegram channel https://t.me/hivepower.


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.


Join our Telegram Channel: https://t.me/hivepower

Key links

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Collaboration with Eidoo ICO Engine for Hive Power’s Crowdsale — Everything you need to know

Hive Power is happy to collaborate with Eidoo ICO engine in order to be completely compliant with the new regulations of the Swiss Financial Market Supervisory Authority FINMA released earlier this year. Among other things, the regulations are focused on anti-money laundering, that includes the need of establishing the identity of beneficial owners.

This is where Eidoo ICO Engine steps in, providing Tier 1 and Tier 2 identification for its users. In this step-by-step guide you will find how to register to Eidoo ICO Engine and how to participate to the Hive Power crowdsale on the 12th of June 2018.


To participate to the Hive Power ICO, you need to register to the Eidoo ICO Engine website and identify yourself through the KYC (Know Your Customer) procedure. In order to do so, you need to complete Tier 1 (up to 3.000 CHF per year) and Tier 2 (up to 500.000 CHF per year). For each Tier, you will be required to provide different documents, which will be specified below. This is necessary in order to comply to future AML (Anti Money Laundering) requirements and to avoid unauthorized people to participate in the ICO.

After the KYC procedure, you will receive your referral link and you will be able to participate to the Hive Power airdrop!


Following, there’s a step-by-step guide to help you going through the KYC procedure, get your referral link and participate to Hive Power airdrop!

Before starting, note that Chinese and U.S. citizens won’t be able to join the ICO.

1) Download the Eidoo app

The app is available for iOS and Android. You will get your wallet address, necessary to send ETH and buy the tokens.

Please, use Google Chrome from now on.

2) Register on the Eidoo ICO Engine Website

Eidoo 1 HD

Go to Eidoo ICO Engine

To register, you will need to provide the following information: name, surname, email, and password.

You will receive an email with a link to confirm your registration. This link will redirect you to your first log-in.

Eidoo 2 HD

In the upper-right corner of the page, click on your profile. Now you will see your profile page: you can enter your name and surname (or a nickname), photo, description and choose your privacy settings.

Finally, you can add a 2-factor authentication using Google Authenticator for increased security.

3) Identification — Tier 1

Eidoo 3 HD

To complete Tier 1, click on the left menu the “Identification” item.

Remember that Tier 1 will allow you to join the ICO with a maximum of 3.000 CHF per year.

Here you will need to enter the following information: name, surname, address, house number, city, zip code, country, email, telephone number, nationality, date of birth, etc. You will also need to enter your Eidoo wallet address and declare that you are not an American citizen or subject in any way to US taxation.

4) Identification — Tier 2

After completing Tier 1, accept the “Terms and Conditions” and click on “Upgrade to Tier 2”.

Remember that Tier 2 will allow you to join ICOs with a maximum of CHF 500.000 per year.

Eidoo 4 HD

In Tier 2, you will be asked:

  • To proof your identity (passport OR driving license OR identity card)
  • To proof your residence (bank statement OR utility bill)
  • A selfie (you can upload it OR take one with the webcam)
  • To select the type of verification (private OR business)
  • To agree to term and conditions

Depending on whether you click on “Private” or “Business” you will need to fill form A (private) or form K (business). Some fields of this form will be automatically filled. Finally, you will need to sign the document by using the Google Authenticator 2FA (2 Factor Authentication).

Eidoo 5 HD

5) Connect the ICO Engine profile to the eidoo wallet

After completing the KYC procedure, you need to connect your verified ICO Engine profile to your eidoo wallet address. To complete this step, return to your profile page and click on the left menu the “My addresses” item. Here you will need to insert your eidoo wallet address, which is obtained with the download of the eidoo app (Step 1).

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6) Buy the HVT tokens

Finally, to buy the Hive Token, you need to log-in on the eiddo app, click on “ICO list“, choose the Hive Power ICO and insert the amount of ETH you want to use to buy HVT.

3steps.png

7) Referral URL

After the registration, the participants will receive a unique referral URL (on the website). This URL will be used to reward participants who will promote Hive Power to their friends: participants will receive a token bonus equivalent to the 5% of tokens bought by referred buyers. The bonus tokens will be distributed from the Airdrop and Referral Program fund, after the end of the Crowdsale.

Guide to get your referral link

The referral link can be found at the Hive Power profile on ICO Engine: https://www.icoengine.net/ico/hive-power.

Referral 1 HD

Once you click on the “get referral code” button, the system will generate your unique referral code that you can share with your network.

Here you can see an example of the generated code:

Referral 2 HD

If you want to see all the referral links you have, you can easily do this from your ICO Engine personal profile: https://icoengine.net/profile/referrals.

The greater your referral clicks, the bigger your reward for spreading the word about Hive Power!

Referral 3 HD

8) Airdrop

In August 2018, Hive Power will distribute 500’000 HVT tokens to reward HVT token holders. Users who didn’t move their HVT tokens after the Crowdsale will be eligible to receive the airdrop. The airdrop fund will be distributed to token holders proportionally to their HVT balance.


Something isn’t clear? For questions please join our Telegram channel https://t.me/hivepower.


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.

Join our Telegram Channel: https://t.me/hivepower

Key links

 

Hive Power Referral Program with eidoo ICO Engine

Hive Power KYC process and Referral Program on eidoo ICO Engine are now active.

You can find detailed information about the ICO Engine registration here.

 

After the registration, the participants will receive a unique referral URL. Participants will receive a token bonus equivalent to the 5% of tokens bought by referred buyers. The bonus tokens will be distributed from the Airdrop and Referral Program fund, after the end of the Crowdsale.

Note: Users who didn’t move their HVT tokens after the Crowdsale will be eligible to receive the Hive Power airdrop. The airdrop fund will be distributed to token holders proportionally to their HVT balance.

Read our Airdrop and Referral announcement here.


Referral Program

The referral link can be found at the Hive Power profile on ICO Engine: https://www.icoengine.net/ico/hive-power.

Referral 1

Once you click on the “get referral code” button, the system will generate your unique referral code that you can share with your network. Here you can see an example of the generated code:

Referral 2

If you want to see all the referral links you have, you can easily do this from your ICO Engine personal profile: https://icoengine.net/profile/referrals.

The greater your referral clicks, the bigger your reward for spreading the word about Hive Power.

Referral 3

Something isn’t clear? For questions please join our Telegram channel https://t.me/hivepower.


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.

Join our Telegram Channel: https://t.me/hivepower

Key links

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The Hive Power Airdrop and Referral Programs

AirDrop

In September 2018, Hive Power will distribute 500’000 HVT tokens to reward HVT token holders. Users who didn’t move their HVT tokens after the Crowdsale will be eligible to receive the airdrop. The airdrop fund will be distributed to token holders proportionally to their HVT balance.

Timeline

  • March 20th, 2018: Crowdsale registration start with KYC and referral program
  • June 2018: Release of Hive Power 1.0 platform and HVT transfer functionality activation
  • June 12th, 2018: Crowdsale start, with a duration of three weeks or until hard cap reached
  • June 30th, 2018: Crowdsale end
  • September 2018: Airdrop to HVT token holders

Additional AirDrop for Tier 2 ICO Engine Accounts

To reward even more our community for its support, we launched an additional airdrop to registered ICO Engine Tier 2 accounts. The new 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: https://goo.gl/forms/N1Ytv6pYIhRETkvE3

Additional AirDrop on Bitcointalk

More info about the airdrop on Bitcointalk you can find here: https://bitcointalk.org/index.php?topic=3322167.0


Live Bounty Program

We are also offering a bounty program on Bitcointalk starting from now! Hurry up to complete the required steps by following the rules explained on Bitcointalk at this link: https://bitcointalk.org/index.php?topic=3378072.0


Referral

The Hive Power Referral Program helps to reward participants who will promote Hive Power to their friends. This program is active on ICO Engine.

Referral is active now! Read more here.

After the registration, the participants will receive a unique referral URL. Participants will receive a token bonus equivalent to the 5% of tokens bought by referred buyers. The bonus tokens are distributed after from the Airdrop and Referral Program fund, after the end of the Crowdsale.

Register on the Eidoo ICO Engine website to activate your referral. Follow this detailed explanation on how to do it.


Join our Telegram Channel: https://t.me/hivepower

Key links

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HVT Token Model

An overview of the ERC20 token that grants access to the Hive Power ecosystem

The Hive Token (HVT) is a standard Ethereum ERC20 token managed by a smart contract, which gives access to the Hive Power ecosystem and its management.

Token name: Hive Token
Token symbol: HVT
Token type: ERC20
Maximum supply: 100 Millions HVT

Function

Platform access

The main purpose of HVT is to be used for the creation and management of Hives. Hives are distributed energy market platforms implemented in smart contracts, in which registered participants can exchange energy with each other in a cost-effective way.

Hive owners and their market participants will have access to a number of services

  • List of blockchain-ready trusted meters
  • Access to a low cost off-chain payment system based on liquidity.network technology
  • Access to HONEY algorithm
  • Access to forecasting service

Governance

Users with staked HVTs will also have access to Hive Power technical governance. More specifically, all the upgrade proposals of the smart contracts will be subjected to their vote. In order to exclude potential speculative actors, only Hive Owners will participate in the governance. Their voting power will be weighted accordingly to staking age.

Stake and burn mechanism

In order to create a new Hive, the future hive owner will need to transfer HVTs in a smart contract, the Beekeeper. The Beekeeper contract performs a “burn and stake” on the received HVTs: 50% of the HVTs are taken permanently out of supply and the remaining 50% are staked inside the contract. The burn mechanism has the purpose to disincentivize unnecessary Hive management operations and reach a stable operation of the Hive Power platform. After the creation of a new Hive, the Hive Owner can send additional HVT to the Beekeeper contract in order to assign meters to the newly created Hive. This operation uses the same “burn and stake” mechanism. When a Hive is destroyed or a meter is detached, the remaining 50% of the HVT tokens is sent back to the hive owner address. The required HVT amount for an Hive creation is variable in order to ensure a stable equivalent cost in fiat. The cost will be decided before the launch of Hive Power 1.0 release.

Hive creation cost

The cost for the creation of a Hive will be a function of the amount of available HVT following the simple rule:

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where HVT_a is total amount of HVT which are not staked in the Beekeeper contract or have been burned and N is a constant defining the amount of Hives that can be created using the available HVT tokens. In this way, even if more and more HVT are staked and burned, the cost of a hive in fiat should not increase as a consequence of the increasing HVT scarcity. On the other hand, the number of Hives that can be created with a certain amount of HVT will increase with the number of Hives that have already been created.

The next figure illustrates the evolution of the cost in HVT for the creation of a Hive as a function of the number of Hives already created. In this particular case, the initial price for the creation of a Hive at the moment of the crowdsale is fixed at 50$.

The exact same rule will be applied to the amount of HVT required to add a meter to a hive, which will also be a function of the amount of non-staked HVT. Obviously, the required amount of HVT will be lower than that required for the creation of a Hive.


Join our Telegram Channel: https://t.me/hivepower


Key links

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Introducing the HVT Crowdsale

Hive Power builds decentralized energy communities secured by the blockchain

 

Hive Power enables 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.

By using the Hive Power platform users are empowered to create decentralized energy communities. Hive Power is perfectly tailored to the current grid transition, enabling a safe and cost effective operation of the electrical grid by ensuring a fair and resilient energy market for all actors involved.

We are happy to announce our HVT Crowdsale, which will help us to realize our vision of decentralized energy sharing platform.


The HVT token

The Hive Token (HVT) is a standard ERC20 Ethereum token managed by a smart contract. The purpose of HVT is to be used for the creation and management of hives and meters and to participate to the governance of the Hive Power platform. HVT will be created only once, during the upcoming Crowdsale.

HVT maximum supply: 100’000’000

Functions

HVT main functions are the following:

  • Hive management — In order to create a new Hive and manage its electrical meters, the future hive owner will need to send HVTs to the Beekeeper smart contract, which will proceed with the deployment of the Hive smart contract.
  • Governance — Hive Owners, who are staking HVTs in the Beekeeper contract, will also have access to Hive Power technical governance

Crowdsale

The Crowdsale will run on Ethereum smart contracts, accepting ETH payments in exchange for HVT tokens. Tokens that remain unsold by the end of the Crowdsale will be burned, reducing the tokens circulating supply.

The Crowdsale is capped at 50 million HVT, corresponding to roughly $11.75 million USD. The HVT final token price is set to 0.25 USD. Contributions will be exclusively in ETH. The token ETH exchange rate will be set on Thursday 7th of June at 12:00 PM UTC, five days before the beginning of the crowdsale.

To participate to the HVT Crowdsale, contributors will have to register a KYC (Know Your User) profile. This registration can be done prior or during the token sale.

The Crowsale will start on June 12th, 2018 and finish on June 30th, 2018 or when the hard cap is reached.

To reward the first contributors to the crowdsale we defined the following Bonus phases:

  • Royal Jelly Phase — 5’000’000 HVT
    The first crowdsale phase comprises 5% of the generated HVT tokens. Investors in the first batch will receive a 30% bonus on the Public Sale price.
  • Honey Phase — 20’000’000 HVT
    The second crowdsale phase comprises 20% of the generated HVT tokens. Investors in the second batch will receive a 10% bonus on the Public Sale price.
  • Propolis Phase — 25’000’000 HVT
    The last crowdsale phase comprises 25% of the generated HVT tokens.

Token Distribution

  • 33% of the HVT tokens generated are reserved for the Hive Power Sagl company operation, to fund research and development, pilot projects and industrial and geographical expansion.
  • 10% of the HVT tokens generated are reserved for the Hive Power Founders and are subject to a two year vesting schedule in a smart contract. Every six months 25% of the tokens will be accessible.
  • 4% of the HTV tokens generated are reserved for Hive Power Early Backers, individuals and businesses that have helped Hive Power before the Crowdsale.

3% of the HVT tokens generated are allocated to the Referral and Airdrop program. More details about them will be revealed in few days, stay tuned!


Additional Token Generation Infos

  • No minimum buy limit requirements
  • Tokens are sent immediately to buyers and become transferable once the token sale has ended and the Hive Power Platform 1.0 is deployed in June 2018.
  • People from all countries, except the USA and China, can participate in this token sale.

Join our Telegram Channel: https://t.me/hivepower


Key links