Hero is the newest and the first banking from Southeast Asia that is decentralized using blockchain technology. Hero is here to revolutionize the banking industry to make credit more accessible and affordable by unbanked or underbanked, starting in Southeast Asia. Unbanked is people who have money but do not keep their money in the bank, underbanked is the opposite.
Hero operates entirely online with its headquarter in Singapore without having a branch company which allows it to keep operating costs low and to stay focused on customers. Hero also turned the loan into a highly efficient, transparent and no-friction digital experience for the region in Southeast Asia.
Hero has a vision to change the current financial system which ostracizes as many as 2 billion people from the banking system but the problem can be overcome by using technology to create a more inclusive system which will allow people to access credit more easily.
How Hero Works
On or before the due date of the loan, the customer may, through various payment options, make the loan repayment payment
or apply for a loan renewal. If the customer fails to redeem or renew before the due date, the loan is entered legally. Note the period between 1 month for electronic goods and up to 3 months for non-depreciable goods. Upon completion of notification if the customer does not make any repayments and additional interest payments are required, then Opus resolves legally.
Public notice and auction process are required and then make the item available for sale in our market. PawnHero offers several payment options for loan repayment (Pay Out) and loan repayment and / or loan extension (Pay In). Major payment partners include Paynamics, which offering some over the counter transactions in national banks, and Pay In and Pay.
Using Coins, subscribers have access to mobile wallets and services such as remittances on billing payments, and online shopping at over 100,000 merchants receiving digital currencies. Other options including without PawnHero ATM withdrawal card continue to add Pay Out and Pay In options with companies in banking, Money Transfer, e-wallet, digital money, and retail location processing business.
Hero Token
This document provides a comprehensive overview of the Hero, its applications and benefits, the team involved in the project, the upcoming Hero fundraising referred to as ICO or & corporate crowdsale and the goals Hero is expected to achieve.
A Token Sale is an event in which a new cryptocurrency project sells part of its cryptocurrency protocols to early adopters and enthusiasts in exchange for funding. For the party offering the tokens for sale, this has become a well-documented and well-respected way to raise funds to upscale an existing product or service.
Why a token sale?
Even though PawnHero already has a central bank license, a working product and thousands of customers, taking PawnHero to the next level requires more capital to scale our impact. We need to continue to develop the product, enter new markets and hire talented people to help build the business. The proceeds will allow us accelerate the building of our collateralized and uncollateralized lending algorithms which needs a higher volume of loans than we are able to support at the moment.
Offering a token instead of a traditional venture capital round enables the community to participate in PawnHero's success story, rather than limiting it to a small, selected number of traditional venture capital funds. By issuing Hero tokens, tokenholder will benefit from PawnHero's future success. A token sale is fast, transparent and efficient for exactly this purpose.
Token Name
Hero Token (Symbol HERO) - The Future of Banking in Southeast Asia
The amount of tokens that are created for the Hero chain are all dependent on how many coins are sold during the token sale. a maximum of 250,000 Ethereum (ETH) tokens will be accepted for purchase of Hero tokens in this token sale. The maximum amount contributed will in turn represent 80% of all Hero tokens.Should the maximum amount be on the top of the sale on TBD, which is 4 weeks after the start of the token sale, we will cut off the token sale. In the event that the maximum amount is not fully funded by the end of the token sale, the percentage of 80% of all tokens will be adjusted accordingly, with the difference between the lower amount and the maximum amount being reserved for future token sales.
Value to Investors
Hero are strategically designed to add value to the Hero network:
*Reward bearing tokens - like a interest.
*Social impact of helping underserved access affordable credit.
*Buy back: The company may use a percentage of profits to repurchase Hero tokens from the open market at the
prevailing market price, therefore the value of the token should be further positively correlated to the success of the
project.
There is no risk of interest defaults on pawn loans granted by PawnHero. PawnHero withholds the entire interest by deducting the interest from the proceeds credited to the customer. As an example, a 1,000 Philippine Peso (PHP) loan with a 3 month terms and a monthly interest rate of 2.99% would earn 89.7 PHP of interest. PawnHero only releases 910.3 PHP to the customer and thus collects the full 89.7 PHP of interest with no risk of interest defaults. After the 3 month term of the loan, the customer is required to redeem the loan by paying 1,000 PHP. Depending on the underlying collateral PawnHero offers the customer to renew the loan at which point additional interest interest is due. Investors receive 20% of the interest collected. So that is the 20% of 89.7 PHP. For the quarterly respectively monthly distribution of interest, the sum of all loans released within the period are used.
To participate in the Hero token sale you can send the following currencies from a wallet you control (do not send from
an exchange) to the Hero wallet.
*Ethereum (ETH)
*ETH Classic
*Bitcoin (BTC)
*Ripple
*LiteCoin
*Waves
The wallet address will be made available on our website www.herotoken.io before the actual token sale. Hero token will be delivered to the purchaser after the end of the token sale. Transferability will start from the first day of trading, which is planned to start after token sale ends in September. After this token sale, no additional Hero tokens will be created.
Road Map
Team
- Visit More Information:
Website: https://www.herotoken.io/
Whitepaper: https://s3-ap-southeast-1.amazonaws.com/herotoken/Hero+Whitepaper_080817.pdf
Bitcointalk ANN THREAD: https://bitcointalk.org/index.php?topic=2073049
Facebook: https://www.facebook.com/PawnHero.ph
Twitter: https://twitter.com/PawnHeroPH
Slack: https://herotoken.herokuapp.com/
Telegram: https://t.me/herotoken
My Profile Bitcointalk morata: https://bitcointalk.org/index.php?action=profile;u=1074956
My ETH Address:
0x6298e212aD287AFA6f13dbc2764c0e5195a11525
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