Huobi Prime 5: User Guide
Interested in Huobi Prime’s launch of Emogi(LOL) but don’t know prime works? Not to worry. We’ve created this handy user guide to walk you through the process.
What Can You Get From Participating In Huobi Prime?
Huobi Prime is a program designed to give back to the Huobi community. Projects that are selected for Huobi Prime sell their tokens at a discount to the Huobi users.
How Do I Qualify For Huobi Prime?
you must satisfy the HT Holding Requirements — the Minimum Holding Amount and the Holding Period.
Minimum Holding Amount: 1,000HT every day during the holding period.
Holding Period: from the day of the last Prime launch to the previous day of the upcoming Prime launch. In the case of Huobi Prime 5, this is from 00:00:00, July 16, 2019 to 23:59, August 14, 2019 (GMT+8).
NOTE: you must have at least 1,000HT holdings every day during the Holding Period in order to qualify.
Check your HT holding status and eligibility for Prime 5 here.
Ok, So I’m Eligible. Now What?
Anyone who is eligible will have a Trading Quota (Cap), which is the maximum HT amount that you can place in an order in all rounds of Huobi Prime to purchase the project token.
How much Trading Quota can you get?
A Trading Quota is between 1,000HT to 5,000HT. It depends on your lowest HT holding during the HT holding period.
Here’s three example scenarios to help you fully understand the relationship between HT holding and Trading Quota.
What If I Missed The Eligibility Deadline For Prime 5?
If you missed the deadline to accumulate enough HT for Prime 5, there’s no need to worry! Now you can buy a ticket in Eligibility Sales! Only 1,000 Eligibility Tickets will be up for grabs on Aug 15. Click here[M2] for more details.
Now I Know How Much My Trading Quota Is, How Does Trading Work?
In Huobi Prime, there are two rounds.
- The token price in Round 1 is lower than in Round 2.
20% of the token are allocated for Round 1, while 80% are allocated for Round 2.
In Prime 5(LOL), 294,000,000LOL is allocated for Round 1, and 1,176,000,000LOL for Round 2.
-Users can buy/sell directly in HT zone.
Round 1 lasts for the first 10 minutes, followed by 10 minutes of clearance.
Round 2 lasts for another 10 minutes, followed by 10 minutes of clearance.
* During the clearance, you will know the results of how many tokens you get.
In Round 1:
It will be a jackpot mechanism.
Eligible users will receive 1 to 5 tickets corresponding to their HT Holding during the HT Holding period as specified below.
1 Ticket = 1,000HT
Please note, you must place in the order enough HT to use the maximum number of tickets you are entitled to.
John has a trading quota of 2,100HT, so he is entitled to 2 tickets.
He must place in the order at least 2000HT, to use the two tickets.
But if in Round 1, he places an order of 1,900HT, then he only used 1 ticket.
Will every ticket be filled?
The system will randomly select a fixed number of 800 lucky tickets.
If I am lucky enough to get one of my tickets selected as 1 of the 800, is the 1,000HT in the ticket to be fully exchanged into the project token?
No, not necessarily. As only 20% of the token is allocated for Round 1, all 800 lucky tickets equally share the 20% Prime allocation, which means orders in Round 1 will all be partially filled.
Y = how much lucky ticket winners win in Round 1 per ticket
X = the number of all the tickets placed by users in Round 1
In this case of Prime 5,
In Round 2:
All orders will be partially filled, so everybody can get some of the token they wish to get.
Users can place orders up to their remaining trading quota in HT as stated above in the table. Trading Quota ( of Round 2) = Total Trading Quota — cost in the Round 1
If John has 5,000HT trading quota for Huobi Prime, and gets to use 1,000HT in Round 1, he still has 4,000HT trading quota for Round 2. So John can place an order of up to 4,000HT in Round 2.
How much will each order be filled in Round 2?
If John has 5,000HT trading quota for Prime 5 and failed to have any ticket filled on Round 1, and 20,000 people participate in round 2, with an average order amount of 3,000HT. John can expect this much to filled:
Detailed Step-By-Step Guide For Participating In Huobi Prime
Here we use Prime 4 as an example to guide you through the whole process of participating in Huobi Prime.
Click the top banner to enter the Huobi Prime page (AKRO/HT trading page)
Here on the Prime page, you can see the countdown to Round 1, your trading quota, the price of the token for the round.
When Round 1 starts, click 100% to place a buy order to make the most of your trading quota. After sliding to verify, your order will be successfully placed. Round 1 lasts for 10 minutes.
You can see your placed order in the orderbook, and you will be assigned 1 to 5 tickets with ticket numbers according to the amount you have placed in the order.
During the second 10 minutes after Prime starts, you can see whether you are lucky enough to get any of your tickets filled.
*The steps for participating in Round 2 is basically the same as those for Round 1.