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Huobi Global Will Launch PHA on September 11 (&FAQs)

Dear Phala community,

Huobi Global will launch PHA (Phala) at 20:00 on September 11, 2020 (GMT+8). Please see the details below:

  • Open PHA trading (PHA/USDT、PHA/BTC、PHA/ETH) at 20:00 on September 11 (GMT+8);
  • Open PHA withdrawals at 17:00 on September 12 (GMT+8).

Opening precaution:

Huobi Global will limit the listed price to limited order within 5 minutes after opening trading, and the price shall not be more than 5 times of the opening price, and the normal trading will resume after that.

Please click to check: PHA (Phala) Introduction

Huobi Global will open PHA trading and start the “Stake HT to Mine 5 Million PHA” campaign on September 11, 2020 (GMT+8). This campaign will release 5 million PHA tokens to reward users who staking HT to participate in mining for this time.

How to participate?

WEB: Visit Huobi Global official website and click the banner “Stake HT to Mine 5 Million PHA” to the landing page (it will be released at 20:00 on September 11, 2020).

APP: Login Huobi APP, one-click the banner with “Stake HT to Mine 5 Million PHA” to participate.

Rules

Projected Reward:

The reward will be a certain amount of PHA that the token gained from mining. The amount of reward is subject to the actual HT amount in stake on that day. Daily gained PHA token: (Individual’s staked HT amount/ Total staked HT amount) * 5,000,000/3

Individual staked HT amount and total staked HT amount will be determined by snapshot at 24:00 (GMT+8) every night.

Reward Distribution:

Take the day of completing the staking as the first day (T+0), the reward will be distributed T+1.

The reward will be distributed to your exchange account after 12:00 (GMT+8) every day.

The status of the exchange account will be lock-up. The staking will be terminated automatically by the end day of the campaign.

Note:

1. Staked HT will count towards the computation of Prime, FastTrack HT Holding snapshots, but cannot be used for HT voting or order placement.

2. The content of the announcement and other information on Huobi Global is not a suggestion of investment advice. Huobi will not bear any direct or indirect losses arising from reliance on such information. Huobi does not assume responsibility for guarantees, compensation, etc. for trading or staking.

Huobi Global
September 9, 2020

FAQ

  1. Can I deposit ERC20 PHA/Will Huobi list ERC20 PHA? — Yes, it is ERC20 PHA that will be launched on Huobi.
  2. When can I transfer PHA? — It will be announced on Huobi and we will forward it to the community asap. :)
  3. What’s the circulating supply? — 137,000,000 PHA.

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