SINGAPORE, March 20, 2019 /PRNewswire/ -- On Tuesday, March 26, Huobi Global is launching Huobi Prime, a better way to access cutting-edge crypto projects with a high potential for impact and growth – one designed not just for the deep pocketed and well connected but also for ordinary retail traders.
"Customer demand and user needs are at the forefront of everything we do here at Huobi. Huobi Prime is very much an extension of that," said Leon Li, Founder and CEO of Huobi Group. "We've designed it from the ground up to be a more innovative, direct, and responsive way to access up-and-coming new tokens."
"Powered by Huobi Token, Huobi Prime will keep our brand at the forefront of the ever-changing digital asset marketplace," said Robin Zhu, COO of Huobi Group.
Key Advantages of Huobi Prime
As a coin launch platform, Huobi Prime is a significantly new innovation: a Direct Premium Offering (DPO) platform. It offers users a number of key advantages, including:
- All coins purchased through Huobi Prime are immediately deposited into user's accounts and are tradable on Huobi Global against Huobi Token (HT), Huobi Group's native token. No need to wait for presales or similar delays.
- Rigorous screening and selection processes to ensure only premium projects that have yet to be listed on any major exchange are included.
- Early access to coins at below market prices.
- Access for both big and small players. Huobi Prime will be open to retail investors, not just professionals or VIPs.
- In order to mitigate periods of extreme volatility when the market opens, and to reduce the risk of adverse impacts on investors, a period of tiered price limits has also been added.
Introduction To Huobi Prime
Listing through Huobi Prime will involve three rounds of coin offerings, each lasting 30 minutes. The price will be capped but the cap will rise as time goes on. For example, if Huobi Prime listed a coin called Huobi Premium Example Token (HPET), HPET tokens might be made available at a discount of 30% off in the first round, 20% off in the second, and a 10% discount in the third.
These are just indicative examples – actual discounts will vary by coin offering and may be higher or lower.
The coins bought with Huobi Prime are deposited into the buyer's account with minimal delay and can be traded against Huobi Token. There are no pre-sales, etc. to slow things down.
Do note that individual purchases made through Huobi Prime cannot exceed the equivalent of $1,000 USD in Huobi Token.
TOP To Be The First Project Launched
The first coin to launch on Huobi Prime will be TOP, the native token of TOP Network's public blockchain project.
This successful Silicon Valley-based start-up currently offers secure and low-cost messaging, calling, video, VPN, CDN, and IoT data sharing services and is in the process of launching a PBFT-DPoS-based public blockchain capable of processing several thousand transactions a second. In addition to hosting TOP Network's already popular messaging and communications services, the TOP Network team's long-term vison for the chain is to build it into the primary platform for dApps worldwide.
"While we had a number of really strong candidates for Huobi Prime's inaugural launch, we were really impressed by TOP Network's ambitious business model, as well as the fact that it will be the first true high performance public chain with a pre-existing userbase in the millions," said Ross Zhang, Head of Marketing for Huobi Group. TOP Network will be leveraging its 60-million-strong userbase to the project.
TOP Network's strong founding team also set them apart, said Zhang. The project is headed by CEO Steve Wei, a successful entrepreneur and founding employee at WebEx, and CMO Noah Wang, a Yale grad with a deep background in investment and accounting. TOP Network has backing from investors like Fenbushi Capital and DHVC, and features advisors like Zoom Founder Eric Yuan, former FICO CEO Mark Greene, and Kevin Hsu, founder of BlockVC.
"We've worked closely with Huobi and they won our trust through their professionalism, open-mindedness, and overall friendliness to projects," said Wei. "We were impressed by Huobi's positive reputation and strong branding power and we are happy to launch TOP Network on Huobi Prime."
Find out more about Top Network here: www.topnetwork.org
Project Selection Requirements
At a minimum, all projects selected for inclusion in Huobi Prime must possess the following:
- Strong project team.
- Progressive business model.
- Impressive financial backing.
- Excellent support in the community.
- A solid reputation (no negative news or scandals).
- Have not previously been listed on a major exchange.
In addition, the Huobi Prime team will weigh the following factors heavily:
- Projects that involve major technological breakthroughs.
- Projects from founders with an exceptional reputation in the industry.
- Projects with backing from highly respected experts and leaders (both within and from outside the crypto-space).
- Investment in the project by Huobi Capital or Global Ecosystem Fund.
Coins not eligible for the Huobi Prime program can and will still be eligible for listing on Huobi Global via established listing channels.
Participating In Huobi Prime
For crypto traders and users, gaining access to new tokens via Huobi Prime is easy. Generally speaking, all they need is a fully verified Huobi Global account and an average monthly holding of 500 or more Huobi Tokens.
"It's important to us that Huobi Prime is available to the general public – not just those with deep pockets. At the same time, we want to ensure that those that do take part in Prime are legitimate users who are actively involved in our ecosystem," said Zhang.
In order to give a wider field of users and HT holders a chance to experience Prime, the 500HT limitation will be waived for Prime's inaugural launch of TOP.
Project teams interested in listing through Huobi Prime can contact Huobi Group here to find out more about the requirements: www.hbg.com/en-us/application-center/
Disclaimer: Huobi Prime will not, under any circumstances, make price forecasts or representations as to the asset's investment characteristics. Huobi Prime will not provide any trading advice and Huobi Prime users should conduct independent analysis including, where appropriate, taking third party legal, tax and financial advice. Huobi Prime is limited to users from areas where digital asset trading is compliant.
About Huobi Group: Consisting of ten upstream and downstream enterprises, Huobi Group is the world's leading blockchain company. Established in 2013, Huobi Group's accumulative turnover exceeds US $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries. Find us at www.hbg.com
Official Zendesk announcement: https://bit.ly/2CseLFK
Official Blog announcement: https://blog.hbg.com/introducing-huobi-prime-a-better-path-to-premium-projects/
Official Twitter announcement: https://twitter.com/HuobiGlobal/status/1108216994648616961
SOURCE Huobi Group