Update around Existing Exchange Listing Requirement
[Update: the ST label has now been removed as of 12th February 2019]
On December 27th, Huobi announced a list of tokens that were to be identified with an ‘ST label’ as part of its efforts to promote a “healthy development of the blockchain industry”. Projects with the label were reminded to abide by requirements as stipulated by Huobi, including:
(2) In 15 consecutive days, none of the trading pairs of the tokens has an average daily trading volume larger than $50,000 or other equivalent tokens
The ST label issued was the result of there being less than $50,000 worth of average daily trading volume for the RTE/ETH and RTE/BTC trading pairs for a 15 day period approximately between the week of December 10th and the week of Dec 17th, when a market-wide selloff occurred in the cryptocurrencies space.
Trading volume for both RTE/ETH and RTE/BTC trading pairs have since been above the stipulated minimum trading volume average across all days ever since December 25th.
Huobi has shared with us that they will be reviewing the situation again at a later date, as per their standard protocol of allowing “a period of time” to pass from the date of issuance of the label, and has advised us to continue with abiding by their general guidelines.
Our team at Rate3 has been consistently following up with Huobi for updates since. Multiple team members have done their utmost with engaging with Huobi to come to a more favourable outcome. We accept Huobi’s decision to maintain their stance, and we will update our community immediately should there be any new developments in this regard. Community members can refer to the Rate3 Announcement Channel or the Huobi Global Announcements channel for timely updates.
About Rate3
Rate3 is a decentralised dual protocol for cross-chain asset tokenization and identity management. The Rate3 Tokenization Protocol is an end-to-end protocol for tokenization across multiple blockchains, while the Rate3 Identity Protocol is a protocol to create and manage a unified cross-chain identity.
Website: https://rate3.network
Twitter: https://twitter.com/officialrate3
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