HERO Token Community Update (March 16th)
Hello HERO Community!
Majority (95%) of our tokens have already been distributed since March 9. The second round of tokens was successfully issued yesterday, March 15. 178.324 tokens were distributed to 1,153 wallets. We did not mint any additional tokens. Instead, those tokens were already minted and held in a reserve wallet. Thus, the token supply stays the same at 14,765,425.24871560000.
Members who received their tokens yesterday only completed their identity verification after the deadline for the first round of tokens, which was March 1. The next round of tokens will be issued on March 20 to all those that verify their account or clear their ongoing dispute before midnight on March 18. As this will be the third round of tokens issued, we will be leaving a bigger window to resolve any ongoing dispute and have the remaining members verify their account. Please be reminded to get your accounts verified and to settle your issues before March 18. If you fail to do so, you will further delay the token distribution. The fourth round of tokens will hopefully be the last and this is expected to take place in the middle of April.
We proactively reminded everybody to complete the KYC before the ICO ended and yet many still did not. This week alone, we verified and solved more than 1,000 accounts and disputes. That gives you an idea of what happens behind the scenes of an ICO. Transaction support is taking a lot of our time.
The most common problem we encounter these days is people who registered an account but sent their contribution from a different wallet. They would then contact us afterwards to ask why they did not get their tokens. Tokens are issued to the wallet from which we received the contribution from and only when there is a registered and verified account. You cannot use a different account that is registered under a different wallet address. If you have not received your tokens yet, this could be because you do not have any account (register now) or there is a dispute. Those disputes are usually related to members who bought HERO tokens with non-Ethereum, i.e. Bitcoin, Ripple, LTC etc., but did not provide the transaction signature to provide sufficient proof that they were the ones who made the transaction, or there are multiple people claiming to have made this transaction. Those members need to fill up the problem reporting form, complete all required fields, and upload supporting documents and screenshots from their wallet/exchange.
Again, we have repeatedly sent warnings to the community, yet members continue to make the same mistakes. Thus, it is beyond our control if people cannot follow our simple instructions. If you still have token concerns, please email
[email protected] and make sure to include the complete details of your issue. Our average response time is less than 12 hours, while more complex issues take more time.
For Referral Program participants, we released the remaining tokens to those who had verified accounts. Again, you will need a verified account in order to receive tokens. We already emailed everyone who participated in the token sale and referral program whose account status are still not verified. Please make sure you follow the instructions in the said email.
We ask bounty participants to be patient as bounty tokens will be issued by the end of March at the earliest. Stakes will take a while to be calculated and have not been a priority. Bounty participants will receive their tokens only after all members who participated in the token sale have completed their KYC and received their tokens, so that the total number of tokens sold can be determined, which then provides the foundation to calculate the amount of tokens to be issued to bounty participants. Remember, the bounty pool is equal to 2% of all tokens sold. We were hoping that everybody would follow the instructions and complete the identity verification in time, but since this was not the case, all advisors, bounty participants and team members have to wait.
We also want to remind everyone that for issues with QRYPTOS, it is best to seek help from their support on Telegram:
https://t.me/QUOINE_Support. To those of you complaining that QRYPTOS KYC takes a while to process, this is standard protocol for almost all exchanges. It is very difficult from them as well to cope with the high number of new registrations. The verification process of other exchanges take even longer, so we ask you to be patient (this is out of our control). We also want to remind Japanese people to send tokens on QRYPTOS because chances are that your account will not be verified and you will not be able to withdraw your tokens. That said, QRYPTOS only needs KYC if you want to withdraw funds, but not to buy/sell HERO and other tokens. So you can still buy/sell HERO Tokens even with a newly created account or simply check the token price.
Taking a step back, HERO ICO started on February 1 and ended on February 28. Most ICOs announce the listing on exchanges only weeks after the ICO ended. For example, LALA World ended its token sale on January 12 and only listed its first exchange two months later on March 12. We at HERO, on the other hand, were able to list on QRYPTOS before the ICO even started. Which we believe speaks for the team and project itself. But what we did not know and also could not (since the ICO had not started) was that 82% of all tokens would be sold to Japanese citizens.
Unfortunately QRYPTOS is not open to Japanese citizens. When over 80% of all token holders are unable to trade, then this explains the current trading volume, which has been low to almost nonexistent (only 10 ETH worth of HERO were traded in the last 24 hours). Aside from that, all major currencies and tokens are down significantly compared to the last few weeks. You can also see that the funds we raised have remained almost untouched apart from some marketing related expenses, though the value depreciated a lot as well.
The biggest concern of the community at the moment is getting listed on other exchanges after previously listing on QYRPTOS. We have and will always be transparent with the community. We are in talks with several reputable exchanges and have filed for listing, but like you we have to wait. Listing on an exchange takes time. Exchanges get tons of applications. As a result, certain exchanges are upgrading their policies and restrictions, thus, resulting to listing being more complicated than ever. This is why we are cautious before revealing any news to the community. Our philosophy has always been that we announce news when they are final so that we do not set wrong expectations or false hope. As such, we are not name dropping or confirming any discussions with any specific exchange until the exchange itself announces the listing. We believe this is the right thing to do and announcing any negotiation would be a breach of the non-disclosure-agreements we signed with some of them and thus jeopardises the listing (some exchanges specifically forbid disclosing any listing negotiations, i.e.
https://www.linkedin.com/pulse/binance-listing-tips-changpeng-zhao/) . Right now, we engaged two leading law firms in Singapore and Japan to procure the necessary legal opinions requested by some of the exchanges we are in talk. We want you to know that we are doing what we can to give you the best options at the closest possible time when it comes to this matter. It is a misconception when people think that you simply pay a lot of money or fill up a form.
Re CoinMarketCap: We have received questions regarding this quite often this week. The moment we are listed on multiple exchanges with daily trading volumes, we will approach CMC and ask for the listing. It is simply too early right now. Give it a month or so.
THANK YOU FOR YOUR CONTINUED TRUST AND SUPPORT!
Our team continues to be available for your questions and concern through our Telegram group
https://t.me/Herotokensale or via email
[email protected] .
Until next Friday and Happy Weekend.
Best regards,
Your HERO Token Team
https://medium.com/@HeroToken/community-update-march-16th-716caf9cc695
It's interesting. And how did it happen? I think the marketing program worked more this way. 
