Safe Haven has launched a token generation event (TGE) to create SHA tokens. The TGE is open to all users of VeChain (VET). It will run in a community round divided into four and which will be followed by a public round. The Safe Haven platform was built on the VeChain’s Thor mainnet to provide a solution for inheritance of digital assets. It provides a safe and secure means to transfer private keys, seeds, exchange access and other digital necessities to beneficiaries in case of demise.
The event began yesterday, October 8th with several campaigns lined up. First is the Authority and Mjolnir round with a lowest amount contribution of 30 thousand VET and an upper limit of 10 million. This round will allocate 11.36 SHA units for every VET contributed. Token bonuses awarded will however be locked up for half a year before they can be spent. Conversely, the X-node round has no lock up for bonuses. However, participants only receive 10 SHA units for every VET in contributions of between 10 thousand and 10 million VET.
The third of campaign targets Economic nodes. It requires between 10 thousand and 3 million VET as payment. Each VET will exchange for 10 SHA and no lock up period applies for bonuses. Other VET holders with a wallet balance above 10 thousand VET can contribute between 10 thousand and 3 million VET in exchange for 9.09 SHA each. The final campaign is the public round where contributions are limited to between 10 thousand and 3 million VET as well and entitles contributors to 9.09 SHA for each VET. All the above campaigns launched yesterday with the exception of the public round whose dates are yet to be determined. Participants in the entire event (TGE) can throw in more than the initial amount pledged but contributions that fall short of the least amount required will be returned to the sender’s wallet.
The SHA tokens will be available first to x-node participants before the remaining can be distributed to participant in the other rounds. To generate the tokens on Safe Haven platform requires creating an account and registering the node wallet address in it. Once identity is verified through the Know-Your-Customer process, the contributor will have the ability to login and contribute. The address to which contributions are made shall only be received by participants who are approved. The distribution of SHA tokens due to participants will be done 2 weeks following the conclusion of the TGE. The whitelist procedure will remain open during the TGE for anyone willing to take part.
Requirements for the KYC procedure include a passport or government issued identity document and a proof of address. VeChain (VEC) tokens are up 3.7% in the last 24 hours to trade at USD 0.0135 with a market cap of USD 750.786 million. Daily trade volume grew by 235% following the launch of the TGE