HydroMiner H30 Security Token Set To Launch For Mining Profit Rewards
In 2017, HydroMinder, a cryptocurrency mining project, launched in conjunction with an H20 token. Now, the project is taking its next steps by planning the launch of an H30 token. Those who own an H20 token will be able to transfer it to an H30 token.
Dissimilar from the H20 token, the H30 is a security token. The model behind the token enables the company to receive mining profits from operations. Thereafter, the company redistributes the funds for reinvestment, to promote growth, and it does so in a tax-friendly environment as well.
Further, the H30 token is special because it relies on a full capital market prospectus in compliance with European financial law. As a result, the token is safe, transparent, and much more secure than its counterparts. As the first security token, users can feel more confident in its viability.
According to the HydroMining Team,
“With cheap energy an effective cooling solution, the team has an average profitability ranging from 20% to 30%, based on past figures. HydroMiner’s aim is to offer investors the best possible way to participate in the mining process, in terms of technical expertise, lean management, tax, and legal status. We believe that cryptocurrencies should be as open and inclusive as possible. This is all in line with our attempt at creating a token which is a hybrid of traditional securities and cryptocurrencies in that it offers the rights, security, and protections of traditional securities as well as the flexibility of crypto-tokens.”
There are several promising features associated with the H30 token. Those who have the token may expect it to grow in value as the mining process takes place. Further, investors can tag-along and in the event that the company team sells its shares, the majority of the profits are distributed to token holders.
Currently, the HydroMiner H30 token is set to be a tokenized security, which is dissimilar from a utility token. This type of token does not provide investors access to future products or services. Rather, the investors here participate in the company’s performance and as a result, its value and success is dependent upon how well the company does. Further, the token is subject to the Austrian Capital Markets Act.
The company is also planning a token swap, which will be available from the start of the pre-sale. The exchange rate will be anywhere from 1H20 to 50H30. Holders who are interested in converting their H20 are advised to keep it in their wallet until the main – the main sale is scheduled for Q3 of 2018 once the market prospectus is approved.
Once the pre-sale comes to an end and the prospectus is approved by the proper authorities, the main sale will take place. Currently, the Austrian authorities are reviewing the prospectus. Although the exact details are not available at the review stage, those who are interested in the token can learn about any updates as it comes out once approval of the prospectus takes place, which should be in due course.