Hive Power announced its decision to postpone the beginning of its token sale to June 11th till June 30th, 2018, when its 1.0 platform will be released.
This will ensure their compliance with the new FINMA regulation thereby increasing advantages for both Hive Power and their 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, Hive Power decided to postpone their token sale to the 11th of June, 2018 when the 1.0 platform will be released.
This will confer an actual utility to the HVT token since it will be possible to use it immediately on Hive Power 1.0 platform.
Although they already successfully implemented a demo on a simulated testbed, the Hive Power team feel that the implementation of the 1.0 platform will strengthen their position as a fully functioning product as required by the FINMA regulations.
For those who still aren’t registered on the ICOEngine platform, you can follow the step-by-step guide here.
Hive Power airdrop
To reward our community, Hive Power will launch an additional airdrop to registered ICO Engine Tier 2 accounts.
The 500’000 HVT tokens allocated to the airdrop will be distributed 15 days after the ICO (to those Hive Power supporters who have:
- Tier 2 registered Eidoo wallet
- With at least 0.01 ETH at the start of ICO, or on June 11st.