Token Generation Event (aka ICO)
You can invest in a blockchain-based ecosystem of a foundation by being a contributor instead of a traditional investor. It is the same way the Ethereum Foundation was founded and released Ether. It is an established method in the Swiss Crypto Valley. HIT Foundation is regulated by Swiss authorities that make sure contributions can only be used for the Foundation’s purpose! Participants receive tokens in exchange for their contributions. Contributions are non-refundable, therefore, tokens are not subject to banking regulations.
In the case of HIT the token has an utility which is the ability to exchange health information for tokens. By buying the utility tokens you acquire the right to participate in the ecosystem (think of it as a license). There is a limited number of tokens which means that if the network grows by participants and transactions the demand for the tokens will increase.
The HIT token helps to overcome the initial bootstrap problem of projects by adding financial utility when application utility is low. Its utility is granting rights and incentives. The token is essential to the system, as it quantifies the value of health information that cannot be achieved otherwise. In the medium and long term the HIT token will serve as a health community token.
A total of 1 billion HIT token (cap) will be issued in the TGE. The number of token is justified by the potential number of users and the transaction volume in the healthcare market. The initial donation per token in the crowdfunding will be €uro 0.10
Total Token Supply 1’000’000’000 (1 billion cap)
Token Type NEM Mosaic, 6 decimals
Fundraising total € 29.5 Mio
Early Fundraising Spring 2018
50 Mio HIT (50% discount=€ 0.05) = € 2.5 Mio
Method Bank Transfer, ETH, BTC, XEM
Crowdfunding Summer 2018
Method ETH, BTC, XEM
Tier 1 100 Mio HIT (20% discount = € 0.08) = € 8 Mio
Tier 2 100 Mio HIT (10% discount = € 0.09) = € 9 Mio
Tier 3 100 Mio HIT (0% discount = €0.1) = € 10 Mio
- Crowdfunding 30%
- User Tokens / Registration Bonus 20%
- Foundation reserve 20%
- Founders & Team 12%
- Strategic Partner Tokens 10%
- Early fundraising 5%
- Bounty 3%
Use of funds
In the early fundraising 2.5 million Euro will be raised in order to establish the HIT foundation, prepare the crowdfunding, and built a Minimal Viable Product of the application and platform. The funds raised during the crowdfunding will go exclusively to the foundation to build the full HIT infrastructure for data exchange and token transfer, as well as growing the user base and operate the foundation and its services for the first 5 years.