Blockmate Ventures subsidiary Hivello launches token sale
Published: 12:12 31 Jan 2025 EST
Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) announced that its subsidiary Hivello, a platform that allows users to earn passive income by exchanging their unused computing power, has began a public token sale event for its native token $HVLO.
The $HVLO token sale will be hosted on three prominent launchpads: DAOMaker, HyperGPT, and EclipsePad.
This multi-launchpad approach is designed to ensure a fair and equitable opportunity for participants to engage in the token sale, Hivello highlighted.
It added that its commitment to decentralization and fairness in the evolving Web3 space is reflected in the structure of the sale, which guarantees that all participants are offered the same terms.
"We are incredibly proud of the vibrant community that has grown around Hivello. Decentralization is not just a technological advancement; it's a fundamental shift towards empowering humanity,” Hivello co-founder and chairman Domenic Carosa said in a statement.
“With the upcoming token sale, our community now has the opportunity to take a stake in Hivello's future, further aligning our shared vision of making DePIN mining so intuitive and accessible that onboarding the next 100 million users becomes a given.”
Blockmate Ventures will not be directly issuing the tokens nor will it receive any proceeds from the public sale. The token is being issued by the Swiss-based HVLO Association under a license granted by Hivello.
The token unlock schedule is structured so that 25% of the tokens will be unlocked at the Token Generation Event, followed by a one-month cliff, with the remaining tokens vesting over five months, while team tokens will remain locked for nine months to ensure alignment with the community's long-term interests.
Following the announcement, shares of Blockmate Ventures added 11.1% at C$0.25.
