News

Introducing the BHero Crypto Launchpad and FAQs

Steve Talbot on 24th March, 2022

BH Network has been working on a secondary product of the ecosystem. The BHero cryptocurrency project and NFT Launchpad is coming soon!

Quick navigation

  1. BHero – A Crypto Project and NFT Launchpad Built on Elrond
  2. BHero FAQs
  3. What is BHero?
  4. Will BHero Have its Own Token?
  5. How do Buyers Participate?
  6. What Rules Apply to Participate in the Public Sale Round?
  7. Are There Any Fees for Participating?
  8. Why do I Need EGLD Coins?
  9. What Happens if I Do Not Win the Lottery?
  10. Is KYC Required for Participation in the BHero Launchpad Projects?
  11. What is KYC, and Why do I Need to do it?
  12. I Have my EGLD in a CEX (Centralized Exchange); Can I Participate?
  13. I Have My EGLD in Maiar DEX; Can I Participate?
  14. Can I Buy Tickets With USDT or LKMEX?
  15. Can I Use BHAT for Public Sales?
  16. What Type of Startups Will BHero Incubate?
  17. How Can I Connect to BHero?
  18. BHero - The BH Network Public Sale FAQs
  19. Do I Need Staked EGLD to Participate?
  20. Do I Need to Have EGLD Staked at MGStaking?
  21. How Do I Know How Many Tickets I am Eligible for?
  22. Can I Buy My Lottery Tickets With My Staked EGLD?
  23. When is the BH Network Public Sale?
  24. Where Will the BH Network Public Sale Take Place?
  25. KYC FAQs
  26. What Personal ID Documents Can I Use?
  27. How Old Can My ID Documents Be?
  28. What Proof of Address Documents Can I Use?
  29. How Old Can My Proof of Address Documents be?
  30. What Bank Statement Documents Can I Use?
  31. How Old Can My Bank Statement Documents be?
  32. Are Internet-Only Banking Services (Such as Revolut) Documents Accepted?
  33. What Format is Best to Use For My Documents?
  34. How Do I Know if My Documents Are Visually Acceptable?
  35. What Devices Can I Use For the KYC?
  36. BHero Launchpad FAQ Conclusion

Here at BH Network, the team has been working behind the scenes on a secondary product of the BH Network ecosystem. As a result, we are excited to announce that the BHero cryptocurrency project and NFT Launchpad is coming soon!

At the time of this publication, BHero is only the second Launchpad to offer full integration with the highest level of KYC and AML regulations on the Elrond Network. The BHero Launchpad will only ever assist fully legal and licensed cryptocurrency startups that follow all global laws applicable within the cryptocurrency sphere.

BHero incubator will act as a bridge between classical business from web 2.0 and crypto startups from web 3.0, focusing on real businesses that are willing to port their projects to blockchain because they need the disruptive blockchain properties in order to exponentially accelerate their adoption.

BHero will further boost BHAT fundamentals by coupling the token with a continuous stream of new projects incubated by BH Network. BHAT staking will be the main gate for the tickets allocation in the public sales hosted on BHero Launchpad.

BHAT delegators and other specific BH Network allocations will also be whitelisted for continuous tokens perks from the incubated projects.

BHero – A Crypto Project and NFT Launchpad Built on Elrond

Before we release the Launchpad, we would like to provide the community with some information about how it will operate and the requirements for the users.

Providing the answers to some of the most common questions that we are likely to encounter now will give us more time to build the Launchpad, provide the community an idea of what to expect, and give time for feedback and further questions.

BHero FAQs

We will update this article as we get more questions on our Global Telegram public chat and Romanian Group.

What is BHero?

BHero is a Project and NFT Launchpad and is the first module of the BH Network Ecosystem to be launched on the Elrond Network Mainnet.

BHero results from our desire to boost our BHAT Token fundamentals and use case spectrum while continuing the projects development consultation our core team started previously with their ex-companies/roles.

The Launchpad aims to become an essential pillar of great value and disruptive projects onboarding for the Elrond Network Ecosystem.

BH Network will carefully audit all applicants. Then, we will guide and assist the successful projects with the most notable use cases to help them reach the highest level of excellence through tech, business, legal, marketing, and even financial support.

Will BHero Have its Own Token?

No, BHero will not have its own token. The primary token for participating will be BHAT.

Note: The first project on the launchpad is BH Network (BHAT). Therefore, we will use EGLD for the first launchpad.

How do Buyers Participate?

The first token we will launch on the BHero Launchpad will be BHAT, the protagonist of the BH Network ecosystem that will rule all its DeFi projects. We chose to launch our token via our Launchpad as proof of trust.

The BH Network public sale will have different requirements because the BHAT token is not yet publicly listed or available to the masses. We wanted to organise it for the EGLD holders to show respect for our hosting blockchain.

BH Network Public Sale Participation:

  • EGLD Stakers will get ticket allocation based on their stake and BHero Tiers. We will decide the Tier level via snapshot.
  • Participants will have to register and pass the KYC process.
  • After passing the KYC, participants will be able to buy part of the allocated tickets or all of them using EGLD.

Future Projects Public Sale Participation:

  • BHAT Stakers and EGLD stakers will get ticket allocation based on their stake and BHero Tiers. We will decide the Tier level via snapshot.
  • The priority list for Tier allocation will be as follows:
    1. BHAT delegators
    2. MGStaking delegators
    3. EGLD stakers and delegators
  • The platform will require all participants to register and pass the KYC process - unless previously passed.
  • After passing the KYC, participants will be able to buy all or part of the allocated tickets using BHAT.
  • We will pick the winning tickets through a randomized lottery system.
  • After revealing the winning tickets:
    • Winners can claim the Public Sale tokens
    • Unlucky ticket holders can claim back their EGLD/BHAT.

*Note: Keep in mind that having EGLD staked with MGStaking (The BH Network Core Partner Staking Provider) provides better Tiers.

What Rules Apply to Participate in the Public Sale Round?

There are four main rules:

  1. Not living in a country with legal limitations (to be determined by the laws of the country where the launched project business is incorporated)
  2. Passing KYC
  3. Reaching the BHAT/EGLD stake requirements to fall into the ticket allocation Tiers.
  4. Having available tokens to buy the allocated tickets and buying them.

Are There Any Fees for Participating?

Besides paying for the tickets, there will be a small typical Elrond protocol TX fee.

Why do I Need EGLD Coins?

Participants need staked EGLD during the first Public Sale snapshot to get ticket allocation and procurement.

What Happens if I Do Not Win the Lottery?

If you do not win the lottery, you can claim the tokens back that you used to buy the participation tickets (minus the TX fees).

Is KYC Required for Participation in the BHero Launchpad Projects?

Yes, we take security very seriously and will require all participants of all projects to complete and pass a KYC check.

What is KYC, and Why do I Need to do it?

The KYC (Know Your Customer or Know Your Client) process is a standard screening process within the investment industry to ensure investors and advisors understand and comply with various factors of investment:

  • Investment knowledge.
  • Yours or your clients’ risk tolerance.
  • Financial position.

The KYC process protects advisors, clients, and the project and can provide a clearer view of risk management, transaction monitoring, and customer acceptance policies.

Completing the KYC process is mandatory for any private sale, presale, and public sale phase for any serious project in sync with the SEC crypto regulations.

I Have my EGLD in a CEX (Centralized Exchange); Can I Participate?

No, participants will have to use Elrond non-custodial wallets.

I Have My EGLD in Maiar DEX; Can I Participate?

No, your EGLD must be staked with a Staking Provider or in the Legacy Delegation Pool for ticket allocation snapshots.

For ticket procurement, you must use EGLD from the available balance that is not locked in any Smart Contract (nor Maiar DEX’s or Staking).

Can I Buy Tickets With USDT or LKMEX?

No.

For the first project on BHero (BH Network), we will only accept EGLD. All subsequent projects will use BHAT and EGLD.

Can I Use BHAT for Public Sales?

  • At the time of the BH Network Public Sale, the BHAT token will not be minted, so no.
  • On all public sales after BH Network, we would encourage the use of the BHAT token.

What Type of Startups Will BHero Incubate?

BHero will only ever incubate projects who demonstrate:

  1. A wish to be fully compliant with all cryptocurrency laws and regulations
  2. A strong, disruptive use case
  3. A proficient and publicly visible team
  4. A working prototype of MVP (Minimum Viable Product).

How Can I Connect to BHero?

Participants can connect to the BHero dApp via all the Elrond Network wallets options:

  1. Elrond Web Wallet, Maiar App, Maiar DeFI Wallet, and Ledger devices.
  2. The process is like Elrond’s Maiar Dex and Maiar Launchpad dApp connection.

BHero - The BH Network Public Sale FAQs

Do I Need Staked EGLD to Participate?

Yes, you will need to have staked EGLD at the time of the snapshot.

Do I Need to Have EGLD Staked at MGStaking?

No.

There are no requirements to have your staked EGLD with MGStaking - you can stake them with any provider you wish.

However, having your EGLD staked with MGStaking will give you the possibility to buy more BH Network tickets, should you win the lottery.

How Do I Know How Many Tickets I am Eligible for?

For the BH Network private sale, the most straightforward method to know how many tickets you are currently eligible for is:

  1. Open Telegram
  2. Start a private chat with the BH Network bot: @bhatnetwork_bot
  3. Click start
  4. Enter your wallet address with “/” at the beginning. Example: erd1xxxxxxxxxxxxxxx_your_wallet_address_here_xxxxxxxxxxxxxxxxx
  5. Simply copy and paste your address after a / symbol.
  6. Click send.

You will receive a message back looking similar to this:

erd1xxxxxxxxxxxxxxx_your_wallet_address_here_xxxxxxxxxxxxxxxxx

Tier x, number of eligible tickets: x

Can I Buy My Lottery Tickets With My Staked EGLD?

No. You need to have available funds in your wallet alongside your staked EGLD.

When is the BH Network Public Sale?

We have not announced an official date yet. However, we will give the community plenty of time to stake or unstake EGLD.

Where Will the BH Network Public Sale Take Place?

We will conduct the BH Network Public Sale on https://BHero.com

KYC FAQs

What Personal ID Documents Can I Use?

You must use either: Passport National ID card Driving license Resident Permit

There are some restrictions on certain types of ID, depending on your country of residence.

How Old Can My ID Documents Be?

There is no restriction on document age, providing it is within the expiry date.

What Proof of Address Documents Can I Use?

You must use either:

  • Utility bill (gas, water, or electricity)
  • Internet/broadband bill
  • Landline telephone bill
  • Certificate of accommodation or rent

How Old Can My Proof of Address Documents be?

They must be dated within three (3) months of KYC application.

What Bank Statement Documents Can I Use?

You must use either:

  • IBAN / RIB statement with an issuing date within three (3) months.
  • Official bank documents from the country of residence.

How Old Can My Bank Statement Documents be?

They must be dated within three (3) months of KYC application.

Are Internet-Only Banking Services (Such as Revolut) Documents Accepted?

Yes, providing it is a full PDF statement showing your full name and address and date (within the last three (3) months).

What Format is Best to Use For My Documents?

You can use PNG, JPG, JPEG, and PDF.

But, scanned PDF is the preferred format.

How Do I Know if My Documents Are Visually Acceptable?

Until the KYC provider has accepted or declined the documents, there is no sure way to know. Although there are some things that you can do to give you better chances of the documents being accepted:

  • Use scanned PDF documents
  • Keep all corners and edges of the document visible
  • Only use documents that have complete names and addresses of the issuer
  • Ensure the issue date or expiry date is visible (dated in the last three (3) months for letters/statements and not expired).
  • Take care to reduce or remove all distortion, such as glare.

What Devices Can I Use For the KYC?

You can use anything with a camera, such as a smartphone, tablet, laptop, or desktop PC with a webcam.

BHero Launchpad FAQ Conclusion

The BH Network team understands that further questions will still require answering. Therefore, if you have anything that you would like to know or any more details on the questions above, please feel free to contact us on our Telegram group - we are always ready to help.

Steve Talbot
CIO - Editing Director
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