Ethereum
$142.12 -0.45%
ETH · 1w

HiP Lending Launches ERC20 Token on CBX and Documents Loans on the Blockchain

HIP IS WHAT BANKING SHOULD LOOK LIKE

Dear HiP Family,

This is Kai, CEO of Hip Lending, the sexy pivot of HiP Interactive Property. We have many announcements that we are very happy to share with you. HiP has come a long way and has transformed quite a bit while retaining its soul. We have shed quite a bit of unnecessary complexity and regrouped in Asia. The core of HiP was and remains in the phrase we coined “asset banking”, using hard assets as the basis of finance. The shifts we are making are manifold.

First, we are doing an IEO (Initial Exchange Offering) on CBX, a Dubai crypto-currency exchange. Our token HIP’s first use will be used on the HiP Platform to boost the interest rate for lenders. As time goes on we will incorporate other uses, but this initial mechanism binds the value to the lending volume of the platform: the more money is lent out on our platform, the more tokens are locked up, the less are on the market sloshing about. We are using the Ethereum blockchain in two ways, first for our token, and secondly with IPFS as an asset register for our loan book. Increased transparency increases investor confidence and decreases regulatory and accounting burdens.

We are doing two phases of fundraising, the first of which has already started and offers 15% of the coin supply at a 50% discount. The second phase will begin Feb. 15 and will ratchet up the price from 40% discount in three 10% tranches. If successful, we will have raised $7.8M, which will fund the business operations, allow us to purchase many new lending licenses in Thailand, and allow us to make a healthy profit lending the business’ money.

Second, we are going to market in Thailand, and this is where the complexity reduction comes in. Asset banking in its final form includes many asset classes and some of these classes are more complex than others. Perhaps the simplest of all is gold, pure gold. Gold is highly prized in Thailand and people pay 15% per year to bo...

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