Co-founder and former technical director (CTO) of the professional social network LinkedIn Eric Lee intends to attract $20 million through the model of spreading simple agreements for future tokens (SAFT).

The corresponding document in the form of Form D on behalf of the Hub project led by Eric Lee was published on June 1 on the website of the Securities and Exchange Commission (SEC).

As indicated, during the sale of Hub Token from 20 different investors, $13,588,722 was already raised from the planned $20 million.

Earlier this year, Eric Lee launched the so-called Human Trust Protocol (Hub).

As VentureBeat reported later, within the framework of Hub, ICOHub is being created – a reputation system for the ICO that is still in the proof-of-concept stage. It allows investors and interested parties to verify the teams that conduct ICO, which in turn helps to determine which projects can offer legitimacy and quality.

Rating sites ICO, of course, already exist, but, according to Eric Lee, not all of them are sufficiently transparent in the methodology of the valuation and data collection. The project he leads is supposed to solve these problems not only through the collection of data from credible sources, but also putting the responsibility for the validation of projects on the ICO market participants themselves.

As previously reported, ICO for $300 million is going to launch a well-known manufacturer of headphones and accessories Monster Products.


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