Belarus-based blockchain company Hubcoin likes to report that 300,000 (10%) of the total pre-mined HUB tokens was distributed between all other altcoin developers, who agreed to receive them. The decision coincides with the ongoing HubCoin ICO, running from July 17, 2017, till July 31, 2017. During the ICO, the platform has made remaining 3,000,000 HUB tokens available for purchase to the investors.
The Hubcoin platform believes that the recent experiments with fair coins have shown great success and yet leaves a lot of unrealized protocol. Following other premine distribution projects like NEM and Auroracoin, Hubcoin has decided to allocate 10% of all its premined HUB tokens to a selection of blockchain developers working in the alternative currency industry, as any altcoin developer is much more skilled in the coin improvement and promotion than an ordinary person.
Of the 10% of HUB tokens distributed, 7% was given to the developers of various altcoins that are already in the market; the distribution was proportional to the coins’ respective total market capitalization. 2% of the coins equally distributed between all the altcoin developers who currently hold a wallet, block explorer, or topic on the Hubcoin website and 1% held by the project’s lead developer.
Although not a standard Ethereum token, Hubcoin’s premine spending is limited for one year by code, through a unique technical feature. The continuous use of Hubcoin by its developers will provide a long-term motivation for all the teams, preventing early dumps.
The project aims to achieve numerous milestones from the Hubcoin roadmap. A number of project targets that can be fulfilled will depend on total funds raised from the ICO. The project targets are as follows:
2 BTC: A coin tracking service like Coinmarketcap or Coinwarz will be created. It will offer the user the chance to sort coins by an algorithm and will list new coins much faster.
4 BTC: Hosting for interested altcoin developers will be setup for free. The service will be extended to non-developers as well, for a small charge. Additional services like website creation, DDOS defense and more will also be provided. Hubcoin will allow coin creators to add their coins to above-stated services at no cost (free slots will be limited). Block explorer for coins will be created for those needing it. Premium features and priority coin listing will be available for a fixed Hubcoin payment.
6 BTC: Hubcoin will create Block Explorers for Altcoins that don’t have one of their own. Coin creators would be able to add their own coins to the service for free. Premium features including urgent coin additions will be available against payment in Hubcoin.
8 BTC: Pool creation for all coins requiring the feature will be made available. The coin creators will be allowed to add their coins to Hubcoin’s aforementioned services at no cost (free slots will be limited). Premium features and priority coin listing will be available for fixed Hubcoin payment.
12 BTC: Node maintenance service will be created at this stage. The first three altcoin developers will get this service for free. Others who follow will be charged a small Hubcoin payment.
20 BTC: Desktop and web wallet service will be provided. It will be free for altcoin developers. Premium features will be available for a fixed Hubcoin payment.
30 BTC: Android wallet creation service will be available. It will be free for altcoin developers. Premium features will be available for a fixed Hubcoin payment.
50 BTC: The Hubcoin team will start its own coin creation service. It will be free of charges with 10% premine share. A reliable service will be created to support much more algorithm and possibilities than other services. Creation of coin without any premine or with custom premine will also be possible with a fixed Hubcoin payment.
100 BTC: Promotional services for coins will be created enabling facilities like voting to secure more recognition. Other promotional services such as press releases, social media, signature campaigns, advertisement, fakeouts search for investors, etc. will be provided.
Sometimes technically sound coins do not get noticed, and the Hubcoin promotional service will prevent such things from happening. Hubcoin owners will be able to vote by paying Hubcoin and choose coins for promotion.
200+ BTC: Reviving support for unsuccessful coins will be provided by repairing stuck block chains, connection issues, hard forks, creating websites, adding block-explorers and services, and a full work on the coin. Hubcoin owners will be able to vote by paying Hubcoin and choose coin for reviving.
Developer HUB Token Recipients (summary capitalization is more than 10.000.000$)
Saracenis (Topaz coin), Belligerent Fool (BenjiRolls), UsuallyHappens (PartyCoin), PhoenixWarrior333 (FidgetCoin), CryptoWiz420 (Turbostake), findblocks.com(findblocks.com), AtomicProject (Atomic Coin), mbmagnat (Evotion), bumbacoin (BumbaCoin), victoriouscoin(Victoriouscoin), Bzzzum (Deutsche eMark), TrollCoins (TrollCoins), Whitey92d15b7 (GPU Coin), ACP (AnarchistsPrime), OBAViJEST (Doubloon) , soulgate (Virtacoinplus), joshafest (B3Coin), LiftOff1969 (UDOWNcoin), pallas (Cryptonite), vashshawn (corgicoinV2), DreamCrusherFTW (MOZZI), notnormals (InsaneCoin).
Top 3 HUB Token Recipients by capitalization on 23 July
Cryptonite – $7,700,000
InsaneCoin – $3,041,653
Virtacoinplus – $996,000