Hub Token has raised $13.6 million from 20 investors, according to a Form D filed with the Securities and Exchange Commission. The offering, which is ongoing, seeks to raise a total of $20 million in a Simple Agreement for Future Tokens or SAFT.
Hub Token is the creation of Eric Ly who is currently founder and CEO of Presdo as well as Hub. Ly is also a co-founder of LinkedIn where he was CTO at the launch of the popular social network. LinkedIn was eventually sold off to Microsoft.
Hub is described as a blockchain protocol that will create greater trust in online interactions, currently a pressing issue in the ICO marketplace. The “ICOHub” seeks to ferret out the quality ICOs as well as the nefarious offerings and differentiate between the good and the bad with a trust score. Users are rewarded with Hub tokens when they get it right in reviewing ICOs. If you get it wrong – your value to the trust network declines.
This digital reputational marketplace seeks to fill an existing gap. Sure, there are multiple ICO ranking sites but have you ever seen a rank change after an ICO is uncovered as craptaculous? I have. Plus, some the so called “experts” really shouldn’t be qualified as such. If you want to read more about the approach the white paper is available here and there is also an FAQ available on Medium.
Hub has a good number of followers on Telegram now topping 60,000. It helped that an Airdrop just took place.
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