Huobi Prime Is Back in Business, With a New Token About to Launch
Huobi Global, a well-known cryptocurrency exchange, recently announced that its token offering platform, Huobi Prime, is about to host the launch of yet another new coin. The launch is about to take place on May 20th, and it will only mark the 7th time that the launchpad is supporting a specific token.
Any user of Huobi Global can participate in the token offering, where they can purchase the tokens before they are officially listed on any exchange.
However, users should note that they have to hold a minimum of 300 Huobi Token (HT) per day between May 13th and May 19th, in order to be allowed to participate, and also that the token purchases can be made exclusively in HT.
Other than that, it should be noted that the token sale that will take place on May 20th will last only for 30 minutes, starting at 12:00:00 UTC and ending at 12:29:59 UTC. It will consist of two rounds, each of which will last 10 minutes, and there will be one 10-minute break between the rounds.
The two rounds
The first round of distribution will be conducted as a random draw, according to Huobi’s announcement, and it will be based on the daily minimum holding of HT, as well as the size of the holder’s order. After an order number has been generated, the system will issue a ticket. At the end of the round, the system will select 1,500 tickets at random, and the orders corresponding to these tickets are the ones that will be fulfilled.
What this means is that the user can enter the token offering with 5,000 HT, place 4 tickets in the 1st round and have one, worth 100 HT selected, and they will still have 4,900 HT available for the second round. In this second round, they will be allowed to place buy limit orders. This time, there will be no tickets, and at the end of the period meant for this order placement, the system will perform proportional matching transactions for all buy orders using the same price.
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