Holo (HOT)

About Holo

Our ICO is not an Initial Coin Offering like most ICOs. It’s an Initial Community Offering. There’s two main reasons for that. One is that our currency design is not about coins, it’s not coin-centric or token-centric, it’s agent-centric, even though for the ICO we are offering temporary tokens, ERC20 tokens that function as a receipt for the fuel that they bought. That receipt will then be redeemed for Holo fuel after Holo launches. When they redeem that receipt, their account gets credited, and the Holo account gets debited because it’s not coins created from nothing, it’s actually a double-entry accounting system.

Holo will end up in debt, the amount of money we raised which makes sense. It actually holds us to account for the money we raised. However, it is also congruent with our whole approach for the ethical ICO. It’s not about the coins, it’s actually about the community. I think the base level difference that matters is the fact that we’re not designing this so that we can get rich of it, we are designing a system that, as we believe, will thrive. It’s how do we make it “win, win, win” across the board for people to participate so that this is an enlivening, engaging space and community. Thinking through who are all the players in the space, and what are their needs, and how can we be of service to them is at the root of the design.

Many people think that because people will come and buy your coin, now you’ve found your user base. However, if your offering has sold out in 30 seconds, you didn’t get much of a user base, just because if somebody buys a gambling chip, especially if they have crypto billions that they need to diversify, it doesn’t mean they care about your product at all, it doesn’t mean you found your user base just because you got some money. We really wanted to figure out how we can make sure that we’re reaching the people that are going to run this network. What our Indiegogo campaign does is connects to our Initial Community Offering, and it proves the demand of the currency that we’re selling in the Initial Community Offering. We’re doing this because we’re trying to act responsibly. One of the patterns of currency that needs to be in the world is responsible issuance of currency which means that you only issue currency in direct correlation with the value that is behind that currency. In this case, the value behind the currency is what we’re building: the Holo community. That is an indicator of how many hosters there are, how many developers there are in that community. Therefore, those two things are connected.

We have the infrastructure and now this flow comes in. The flow, the currency for the ICO, relates to this infrastructure. The more there are devices being sold, developers engaging, the more tokens we’re releasing in the ICO. We’re starting at €2.5 million, and then, thereafter, every purchase in the crowdfunding releases an amount of currency in the ICO.

We’ve made it hard for whales to just suck it up all at once. it’s going to be spread over many days. You can’t buy more than 10% of the supply (on any given day), you get things reserved for you if you’ve become a Host or a Dev. We’ve taken a lot of care to have this serve and reach the community.

The impact in the world is that we have created a space that is more humane. There is a larger community that’s ready for this, that wants to build with us and believes that this is the right pathway, so we can begin co-creating with that community. It’s totally enlivening.

For us, it was just a healthy way to make sure people aren’t just showing up to gamble because we don’t think that’s a healthy community. We get to a world in which the interactions that we’re doing at this global scale are human-centric as opposed to money-centric. That matters a lot in creating a world that works for more of us.