Huobi Prime, Should You be Primed or Not?
Huobi Global, one of the worlds’ longest running digital asset exchanges, announced the launch of Huobi Prime. As a Direct Premium Offering (DPO) platform, Huobi Prime aims to offer high-quality blockchain projects, that can be traded with Huobi Token pairs, straight after the launch on the exchange. Projects that list on Huobi Prime always have their world premier listing on Huobi Global.
What is Huobi Prime?
Huobi Prime is a DPO platform that launches TODAY (the 26th of March) and offers individual, as well as professional investors, access to invest in new blockchain projects.
As Huobi Group CEO Leon Li stated: “Huobi Prime provides the trading public with access to promising new digital assets at rates below their market value. It benefits our users and grows the crypto ecosystem as a whole by promoting and spreading projects with potential.”
The projects that list on Huobi Prime have gone through an extensive rating process and according to Huobi only the best of the best will be selected to launch on Huobi Prime. Projects that received an investment of either Huobi Capital or the Huobi Global Ecosystem Fund, and thus have already been through the rating process, are favored to be listed on Huobi Prime.
Benefits of buying tokens on Huobi Prime
Huobi Prime offers various benefits. Huobi Token (HT) holders that hold a minimum of 500 HT for a period of 30-day prior to the DPO can participate in the token sale. For the first DPO the requirement of holding HT has been waived. The DPO is phased in three parts. In the first sale the token discount is the biggest, the second token sale has a somewhat lower discount and the third and final sale also has a lower token discount, than the second one. Tokens bought in the DPO will be transferred immediately in a user’s account and the trading against HT will be enabled almost instantly. On a side note, the maximum personal cap per DPO round is the equivalent of $1,000 in Huobi Tokens.
Top Network is the first DPO offered on Huobi Prime, with the first round of the token sale opening on the 26th of March. Another two rounds will follow.
Top Network proposes a high-performance blockchain platform, for real-world business use cases. Three main features are shaping the project, the high-performance blockchain, a multi-chain platform and three layers of distributed ledgers.
Top Network aims to sell 22% of the total token supply in their token sale, for an equivalent amount of $15,000,000 in BTC, ETH or HT.
The token prices in the different DPO rounds are:
Round 1: 1 TOP token = 0.000708 HT
Round 2: 1 TOP token = 0.000852 HT
Round 3: 1 TOP token = 0.001020 HT
Huobi chose TOP Network as the first project to list on Prime, because of their already existing user base of over 60 million users, their strong team and fact that the project is backed by well known professional investors like Fenbushi Capital, Ontology and BlockVC.
As I see it, the market for Initial Exchange Offerings (IEO) or DPOs, have seen extreme growth in 2019, with Binance Launchpad’s and Bitmax’s recent successful sales of BitTorrent, Fetch, Celer and DOS Network. Exchange tokens are surging in price and individual investors started to be excited about token sales again.
Huobi has been around for a long time (2013) and they went through a lot of different market phases. In the past year, Huobi focused on expanding into different regions. This year they are also focusing on the launch of token sales on Huobi Prime. Their first listing of TOP Network can be a winner, because of the connections the project has with industry professionals like Ontology, Neo Global capital and Qtum. The project already has a large customer base that will be introduced to TOP Chain.
In short, I am primed to participate in the first round of the DPO of TOP Network, that starts today (26th of March).
I’m keeping an eye on the potential listing on Huobi Prime of ThunderCore and Nervos as both projects have seen big investments from Huobi Capital.
Disclaimer: I would like to state that I am being incentivized by Huobi for writing this article. This article is not intended as investment advice. You should always do your own research. All the information provided in this article is based on my own personal opinion. During these challenging market conditions I strongly urge everyone to thoroughly research projects to potentially invest in. If you do decide you want to invest, only invest money you can afford to lose.
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