Huobi Launches Experimental Listing Format With Platform Rebranding Prime Lite
Cryptocurrency exchange Huobi announced this Friday that its Prime Lite IEO platform, launched as a simplified version of the main Huobi Prime platform, will now be called FastTrack and will undergo a number of organizational changes..
According to the publication, the exchange will put up five projects for voting every month. The winner of each week will be listed on the exchange, and the remaining projects will be submitted for re-voting next week. A project that cannot be listed by the beginning of the next voting month is eliminated.
Users who voted for the winning project using HT exchange tokens will be able to purchase a certain amount of the winner’s tokens at a reduced price.
Voting will take place every Thursday and last 30 minutes. To participate in the voting, users will be admitted whose accounts will have at least 1,000 HT on their accounts during the control period. The maximum number of votes for one user is limited to 5,000 HT.
After the end of voting, 10 randomly selected users will be able to purchase project tokens for the entire amount of votes, and the rest will proportionally divide the common pool among themselves. The listing of the asset in pairs with USDT, BTC and HT will be carried out immediately after the end of the voting. All HT tokens used in the purchase process will be destroyed by the exchange.
According to the company, only projects with “reliable trading volume, stable exchange rate in the secondary market and strong community support will be allowed to participate in token placements through FastTrack.”.
Huobi implemented bank card support on its OTC platform in April.
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