After a successful audit by smart contract verification platform CertiK, hi has announced the launch of its native token dubbed hi dollar. hi, a not-for-profit financial services provider, noted that its users can now receive interest rewards, and payments through the newly launched hi dollar.
Notably, the hi project is backed by leading crypto/tech investors and financial services firms: Bitcoin.com, Morgan Stanley, Crypto.com, Tencent, Alibaba, GLG, Deloitte, and JPMorgan. Consequently, the firm promises its users the best services backed not only by experienced developers in the market but also focused and dedicated investors.
“The launch of hi Dollars marks the official beginning of the project we’ve been working on the last year,” said Stefan Rüst, CEO and Co-Founder of hi. “We’re dedicated to the mission of adopting cryptocurrencies widely, but we’re also pragmatists in that we strive to make the user experience as simple as possible, while solving real needs users may have within the traditional financial system. The hi Dollar enables us to build a radically different, community-based and non-profit structure that is unlike anything else seen both in crypto and fintech.”
Built on the Ethereum blockchain, hi platform developers created 400 million tokens to be shared among the investors and the community. With the fixed supply, the team behind the hi platform set the initial mint tokens to the ecosystem’s contributors and the community backers.
Notably, up to 100 million hi tokens have been devoted to rewards accounts. During the next seven days, the firm set 8 million tokens available for public purchase. Additionally, a further 2.67x will be reserved for the rewards and public sales.
Hi, token customers can ostensibly continue purchasing the tokens if and only if they agree to a 1 year to 4 years lock-up.
“The locked tokens will be viewable in the Vault section of the user’s account. Shortly after token generation, withdrawals will be enabled on the hi platform, in any case no later than August 10,” the company noted in a press release.
Having successfully launched the Hi dollar tokens, the platform anticipates providing its services on major social media platforms. Currently, hi users can access the company’s services through WhatsApp and Telegram.
By providing key banking services to the unbanked and also the banked, the hi platform anticipates getting more adoption in the foreseeable future.