Page 12 - Himalaya Labs White Paper 3 June
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to attract funding based on the intrinsic merits and promises of their business plan, and
            not merely on political considerations, or the strength of the bargaining power in the
            agency relationship. Himalaya’s motto is unstoppable capital. Our vision is to liberate
            man, in true tradition of bitcoin and ethereum which were beacons of hope in a world
            too centralised!

            Himalaya Capital ICO is a paragon of empowerment and democratisation. Empowerment
            of  entrepreneurs  sprinkled  around  the  world  destitute  for  capital  and  funding,  and
            democratisation  of  fund  raising  whose  closing  shall  no  longer  be  subject  to  the
            investment  theses  or  whims  of  the  Silicon  Valley  style  VCs  ,  nor  of  peripheral
            consequence  to  the  optimisation  of  financial  interests  of  investment  banks  merely
            maximising their selfish  ends under pressure of well endowed shareholders with utter
            disregard for public goods and welfare enhancement.

            The White Paper details the pre-issuance, the issuance, and the post issuance phases the
            conflicts of interest therein, and the scope for technology-enhanced superior process.
            Paramount  to  the  pre-issuance  phase  is  the  discovery  and  the  algorithmically
            determined issue price in such a way that incentives of investors and issuers are aligned,
            with those of the platform, and that the investment be welfare enhancing for society as
            a whole.

            The way investment banks determine the issue price is by a process called Order Book
            Building, or Book Building, which can be easily replicated by algorithms without even
            using  a  blockchain.  Replacing  the  investment  banks  by  an  algorithmic  and  smart-
            contract  based  blockchain  solution  with  very  low  fees  is  in  fact  the  true  value
            proposition put forward by Himalaya Capital.

            Himalaya Stock Exchange will feature modules for Initial Public Offering (Initial Security
            Token  Offering  -  ISTO)  and  Initial  Bond  Token  Offering  (IBTO).  Any  governments,
            corporates  or  non-profit  foundations  will  be  able  to  use  the  decentralised  platform
            powered by smart contracts and blockchain technology for raising capital through public
            markets. There will also be a Syndicated Loans Module wherein a syndicate of lenders
            will be able to easily coordinate through smart contracts the credit approval decisions,
            allocations,  distribution  of  interest,  covenant  setting,  penalties  and  other  automated
            actions that will follow breach of covenants and default etc.

            The trade-off between performance and scalability has been a recurrent topic and issue
            in the blockchain space over the last two years. New solutions such as Plasma Ethereum,
            Thunderella, Snow White, Algorand and Ouroboros have emerged in the recent period.
            Himalaya Capital is drawing on best practices in the industry, in order to greatly improve
            the scalability of its network to be able to put some competitive pressures including on
            the biggest players such as Nasdaq.

            The White Paper contains a roadmap for the ICO divided into five phases namely pre-
            ICO, ICO, exchange listing, IPO platform launch, DEX tokenised stock exchange launch,
            and app store launch for third party apps. It also features a timeline for token supply,
            and the planned distribution of tokens between the different stakeholders of the ICO.
            Finally,  the  core  and  advisory  teams  of  Himalaya  Capital  team  are  made  of  a  super-
            energised  blend  of  leadership  strengths,  towering  intellectual  prowess  and  a  rare
            confluence  of  skills  (entrepreneurial,  business,  academic,  financial,  legal,  technical,
            digital  marketing  etc)  that  complement  each  other,  and  give  to  this  ICO  a  unique
            resplendence and credence in the world capital markets and smart contract landscape.
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