After an extremely successful pre-ICO on September 25, during which the H2O tokens were literally swiped out in 36 minutes, Hydrominer had to make some important improvements to its token model. They had to postpone the date of the main HydroMiner ICO to October 18 (learn what an ICO is). Below you will get to know about the new features of the tokens and the perks that their possession will bring.
H2O Token as Voucher
From now on the H2O token will be representing a sort of voucher defining the mining time that you will be able to use starting from March 2018. This change was mainly implied by the compliance with the Austrian law that they have liability towards as they are located in the Republic of Austria. From the user’s perspective this will mean that each token will grant them a period of mining time, or in other words, the energy specific consumption of the mining facilities limited to a certain time.
What’s more, users will be receiving their payouts on the HydroMiner platform. In order to make this happen users will need to whitelist the Ethereum address that they utilize for the ICO buy-in. An email address will also be required for the whitelisting. Note that whitelisting is essential for the reception of the payouts and token sale participation.
Since HydroMiner aims to become incorporated as an Austrian company, in order to comply with the Austrian regulations, they also reduced the percentage of the funds allocated to the team after the ICO, which means that more tokens will be available for purchasing by the community. This also means that no buy-backs of the H2O tokens will be possible. The team see these as positive changes for the token-sale participants, since it is simply a benefit for those.
The total H2O supply will remain the same, equaling to 25M; Same for the discount levels and the time-frames. First week bonus is 20% and it will decrease progressively during the following weeks. Full details can be found in their white paper.