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Not-for-profit financial services platform hi has announced the successful smart contract audit of its hi Dollar (HI) membership token. Completed by the leading blockchain verification platform CertiK, the audit ensures the contract is hacker-resistant and bug-free.
The successful audit was completed in preparation for the launch of the hi Dollar token by no later than August 1, delivering utility within the hi ecosystem for the benefit of its members. CertiK was chosen to audit the platform’s native token due to its rigorous focus on security, transparency, and innovation in the space, reflecting hi’s “defense in depth” culture in managing and mitigating risk through compliance and security. The hi Dollar joins over 500 crypto projects that have received audits from CertiK.
The hi Dollar Token
Like bitcoin, hi Dollars have a finite supply. Initially built on the Ethereum blockchain as an ERC20 token, hi Dollars will migrate to the hi Chain upon mainnet launch to overcome the persistent congestion and higher fees on the Ethereum network during peak periods. Users must earn or purchase hi Dollars to deposit into their accounts to gain access to the platform’s financial services.
Following a successful pre-sale event that raised several million dollars for future development, the official launch of the membership token will add additional purchase options. These will be determined by the duration of the lock-up period selected, and incentivizes participants more aligned with the long-term goals of the project. Participants will be able to purchase at the current market price with no lock-up or buy at an increasing discount with a 1-year or 4-year lock-up option.
Digital Banking for Everyone
Founded by a group of entrepreneurs and former executives from Crypto.com, Morgan Stanley, Credit Suisse, Tencent, and Alibaba, hi leverages blockchain technology to deliver community governed digital banking for everyone, already boasting over 650,000 members since the platform’s private beta launch in May.
With a commitment to maximizing membership value rather than profits, hi delivers an alternative to the high fee costs and restrictive burdens of traditional finance. The platform will use cryptocurrencies and common mobile-based chat technology to facilitate this, enabling users to conduct financial processes regardless of location.
With a mobile app coming soon, hi’s initial product is a multi-signature digital wallet that pioneers the world’s first cross-platform chat-based financial services to provide members with a seamless payment experience via popular social messengers like Telegram, WhatsApp, and Facebook Messenger.
The wallet supports all major digital assets including bitcoin, providing an easy-to-use, safe, and secure app to instantly buy, sell, convert, and send cryptocurrencies. Members will also be able to earn interest on their balances of up to 20% p.a. with no hidden fees, as well as daily crypto rewards and lifestyle benefits with free access to digital services like Netflix, Disney+, and Spotify.
Later stages of the hi roadmap will support multiple fiat currencies in addition to crypto, a virtual debit card with Apple Pay, Google Pay, and Samsung Pay support, as well as money market services to lend or borrow fiat or crypto and trade equities and derivatives, in the lead up to the hi Chain mainnet launch.