The Virtual Accelerator, currently the second generation version of the hackathon platform, launched a new token – Hacker Gold (HKG).
HKG allows people to be involved and also signifies their appreciation of the best projects participating in the event. It is the official token of the Virtual Accelerator.
It is only through HKG that the tokens issued by the start-ups can be acquired. And the start-ups issued tokens help one gain the voting rights on the way that funds are used to develop the applicable startup’s idea.
HKG helps maintain the transparency in the evaluation and ranking as the amount of HKG collected by an individual team is a de facto crowd expression of the project’s perceived potential. It also provides a baseline for future crowdfunding by the team once the hackathon is over.
The desire of developers and fans to hold the HKG token will increase as a result of the ongoing success of the platform in identifying breakout development teams and ideas. Therefore, HKG token will be a reflection of the success of Virtual Accelerator.
There will be no cap on the HKG or special reservation for anybody. They will be available for 9 weeks; 4 weeks before the hackathon starts and ending after the 5 weeks of the event are complete.
There will be no second sale after the second hackathon ends in December and the only way to purchase HKG will be on the open market when the Virtual Accelerator opens to new entrants through future hackathon. Moreover, it is expected to be available for open trading on leading altcoin exchanges after the <hack.ether.camp> event ends.
The platform hopes to fund the development and marketing of the Virtual accelerator from the sale of HKG. They aim to scale the platform and have frequent competitions, generating more ideas, establishing new teams and forming new startups.