Platform : Ethereum
Website : hold.co
Total Supply : 1,300,000,00
HOLD provides members with unique peer-to-peer lending and borrowing capabilities. It allows users to leverage their existing cryptocurrency holdings for instant cash advances from other users. By means of a mobile app and prepaid card, it enables online and offline purchases with over 45 million retailers worldwide and over 3 million ATMs.
Bitcoin, Ethereum and Litecoin can be used as collateral for cash advances at a competitive rate of 8% p.a., not requiring a good credit history and without geographic restrictions. Instead of selling their assets, members can utilize them to receive instant cash, or make online purchases — while still maintaining their cryptocurrency holdings. This may also result in a potential tax deferment, depending on the jurisdiction of the borrower.
Problem
The crypto-economy is one of the most volatile we have ever seen. For persons trading or holding against fiat currencies such as the U.S. Dollar or Euro, it implies that the valuation of their portfolio can fluctuate exponentially within a short period of time.
Selling cryptocurrencies while the market is on a downswing can be a tough but necessary measure. Historically, there has never been a bad time to buy Bitcoin, Ethereum or Litecoin. In cases of urgency or simply as a matter of convenience, one has no alternative but to sell. All while knowing that the market is most likely to recover at a later date and potentially losing out on significant returns.
HOLD instant cash advances are ideal for urgent expenses, such as a medical bill or car repair. Another scenario simply waiting for more favorable market conditions. Placing crypto- currencies as collateral may not result in a tax event in some jurisdictions. In an economy as volatile as this one, the ability to rapidly and effortlessly leverage cryptocurrencies without losing opportunities for potential gains is priceless.
Solution
Offering a peer-to-peer powered lending and borrowing plat- form, in which members will be able to leverage cryptocurren- cies and obtain instant cash advances directly on an exclusive prepaid payment card.
Cash advances are short term loans given against crypto- currency collateral, accessible exclusively through the HOLD prepaid card. The duration of those cash advances range from 1 to 3 months at a pro-rated, pre-paid interest rate of up to 8% p.a., payable by the borrower. Collateral can be provided in Bitcoin, Ethereum and Litecoin and cash advances may be settled at any time.
The HOLD prepaid card may be utilised at ATMs worldwide, as well as online and offline purchases with over 45 million retailers around the world and this figure is expected to dou- ble to over 90 million retailers3 by 2020. Presently, fiat is the predominant force and foundation of the economy and while crypto is experiencing exponential growth, this is also coun- tered by highly volatile markets. HOLD showcases the best of both worlds, by providing instant liquidity and the ability to retain cryptocurrencies and their potential gains.
Liquidity is provided by lenders funding their HOLD accounts with either fiat, or cryptocurrencies which are converted to fiat. Lenders receive an interest between 4.5 and 7.5% p.a. for funds that are matched with a cash advance request4. The platform offers additional incentives for lenders through a status points program utilizing HOLD tokens.
Platform
The HOLD platform is powered by an advanced HOLD Trading Oracle, featuring:
Our proprietary HALT algorithm
Partner Exchange Integrations
Payment Processor Handling
HOLD Trading Oracle
The HOLD Trading Oracle is the driving force that sustains the HOLD platform and it not only serves for leveraging cryptocur- rency assets and matching them against fiat liquidity, but also for calculating cash advance fees.. At its core sits our propri- etary HALT algorithm that significantly reduces risks associ- ated with peer-to-peer lending against high volatility collateral assets such as Bitcoin, Ethereum or Litecoin. It is necessary to choose the best ICOs to invest based on current ICO stats before going to invest.
HALT Algorithm
The High Accuracy Lending Technology — HALT — is the algo- rithm powered by machine learning that continuously moni- tors the market conditions to predict which cash advances are at risk of being liquidated. It uses historical and live market data of partner exchanges to generate highly accurate risk assessments.
This allows the HOLD platform to keep most of its collateral funds securely stored and unexposed to the outside world, while simultaneously ensuring at that sufficient liquidity is available on partner exchanges to execute liquidations as needed.
Furthermore, HALT also provides borrowers with risk aware- ness, notifying them if one of their cash advances is at risk of being liquidated and when. Note that the times of liquidation and general risk assessments are — while usually highly accu- rate — not guaranteed in any way.
Token
Utility
The HOLD token’s primary purpose is to allow a membership system, provide a cashback program and pay additional in- centives to lenders through a status level program.
Value Strategy
The value strategy of the HOLD token is unique as it features multiple mechanisms to stimulate its growth.
Membership staking in HOLD tokens
A 1% cashback program in HOLD tokens
Platform buying back HOLD tokens, providing liquidity
Platform burning HOLD tokens, decreasing total supply
Membership Strategy
Borrowers require the staking of HOLD tokens for a period of 6 months. This period should represent market conditions fairly and is subject to change. A large number of active member- ships will benefit all token holders, as fewer tokens in circula- tion should stabilize the price.
Buyback Mechanism
By continuously purchasing HOLD tokens through partner exchanges, the platform provides a consistent flow of volume for the token. HOLD requires a constant supply of tokens that need to be bought for its cashback program, lender incentives and burn mechanism.
Burn Mechanism
The HOLD platform comes with a burn mechanism that will decrease the total supply over time. Using a variety of sourc- es, it will burn tokens through the HOLD Trading Oracle. This permanently and continuously decreases the total supply of tokens available, leaving token holders with an appreciation of individual token value.
Sources Of Burnt Tokens
Up to 0.5% of all collected platform fees
Up to 25% of all net fees generated by HOLD card purchases
Note that no more than 130,000,000 HOLD tokens per year will be bought and burnt, and the entire mechanism will be bal- anced around supply and demand by the HOLD Trading Oracle. This process will cease once the minimum of 130,000,000 tokens is reached. No tokens will be burned beyond this point.
Implementation
The HOLD token and ICO is implemented on the Ethereum net- work as an ERC20 token. In recent months Ethereum has seen widespread adoption and support by the Enterprise Ethereum Alliance (EEA). There are many ICO companies which launch airdrop to promote their ICOs.
Distribution
The HOLD distribution period (ICO) will be conducted over three rounds. A private round, a pre-seed round, followed by a public sale (scheduled for early-May 2018). Only accepting Ether (ETH) as a means of contributing, the public sale round is set to last a maximum of 28 days or until the hard cap is reached.
The minimum amount to be raised is $3,500,000 and the sale will stop when all contributions, including private and pre-seed funding, exceed $11,300,000. Transactions will be refunded if the ICO falls short of the minimum, so will transactions be- yond the maximum raising goal. ICO Beginners guide is very helpful to know about how to invest in ICOs.
All public contributions must be made in Ether (ETH). Any other assets sent to the address provided once the ICO starts will be permanently lost. The technology is implemented as a hybrid Smart Contract Oracle, allowing contributors to send funds transparently for everybody to see and verify on the blockchain.
A maximum of 1,300,000,000 HOLD tokens will be issued. All tokens not sold by the end of the ICO will be burnt. HOLD tokens will be on sale during the public round at a rate of 0.00004 ETH per HOLD token.
Contributors of the ICO need to pass account verification. (KYC) before they can whitelist their Ethereum address. Only whitelisted Ethereum addresses can participate and all trans- actions by other addresses will be rejected
Platform : Ethereum
Website : hold.co
Total Supply : 1,300,000,00
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