For some context on the HMD coin, be sure to check out my last article, where I went into detail about the token's economics.
Homelend has carefully developed an ICO that takes into consideration the data from the mortgage industry and how to make the HMD token thrive. The idea behind this is to ensure that HMD tokens have a stable price so that they can perform their access function properly.
Notwithstanding, this does not eliminate a slightly deflationary monetary policy that might cause the price of the HMD tokens to increase over time as a result of the rapid adoption of the platform.
Unlike many other tokens, the HMD token is not a mined, but rather a minted Ethereum-based ERC-20 tokens. Just like it has been said earlier, their major function would be to grant individuals access to the numerous services that the Homelend platform provides, either directly or indirectly.
In the Token Generation Event (TGE), the total number of HDM tokens to be issued has been placed at 250 million. Of which 20% of this total supply (50 million) will be stored in a reserve fund, and the remaining 80% (200 million) will be distributed.
The value of the HMD token has been paired with Ethereum, at 1 ETH for 1,600 HMD.
The pre-sale distribution of the HMD token will be concluded through a private placement, where early adopters will be offered incentives in the form of HMD tokens. Also, based on the time the token is purchased, a discount incentive will be offered during the TGE public sale as follows:
30% on the first day, 20% in the first week, 15% in the 2nd week, 10% in the 3rd week, and 0% in the 4th week.
The Homelend platform is developed by a global team that is extensively experienced in the Blockchain technology. The company operates out of Israel, which is tagged as a start-up nation because of its entrepreneurial and innovative environment.
Among the executive team of Homelend includes the Chief Executive Officer, Itai Cohen, the Chief Technology Officer (CTO), Netanel Bitan, the Chief Innovation Officer, Ricardo Henriquez, and the Chief Business Officer, Amir Nahmias.
The concept of using a token like the HMD token on the Homelend platform is to offer individuals the access to services provided directly or indirectly by Homelend. With this, borrowers will have the capability to deposit tokens, and in turn receive discount points and origination gas.
The mortgage industry is about to witness a revolution like no other.
For more information of the Homelend ICO and team, check out their website and whitepaper.
Disclaimer: As with all investments, you should do your own research. The information provided in this article is focused primarily on bringing the facts out of the white paper to supplement your due diligence. Please do your own research and make up your own mind.
