After Bittrex and Binance, Huobi is another leading Crypto exchange platform that is planning to venture into a Token-listing project by offering a Coin-launching platform.
The new premium coin offering service from the Chinese-based exchange is set to allow traders to access the rich pool of Cryptocurrencies that are offered for investment purposes before being listed on the main exchange.
The exchange plans to launch the solution on March 26th.
Introducing ‘Huobi Prime’
The premium Coin launching feature is known as ‘Huobi Prime’. Its core function is to ensure that selected users can buy new Coins before they are offered at the open market at discounted prices.
According to reports from Huobi, the Coins that will be featured will be selected using standards that promote the quality of the team behind the projects and the features, and financial use adaptation. Further, Huobi Prime will also consider whether a Coin has been listed in any other major exchange before launching it.
How Coins Will Be Launched On The Platform
Listing Cryptos on the Huobi Prime platform will take place in three rounds of Coin offerings where each stage lasts an hour. The prices will be capped at a discount on each round which can also change depending on the customer demand.
The exchange will ensure that the Coins are offered in larger dynamic quantities according to a Huobi press release.
Huobi Token (HT), the native Coin of the platform, will be the pair for the new Cryptos where users will be able to exchange the startup Digital Assets with the HT. Further, users will only be allowed to spend up to $1,000 worth of HT -2200 HT per sale.
The Mission Of Huobi Prime
The CEO and Founder of Huobi Group, Leon Li, said in the press release that conceptualization and actualization of the solution is meant to ensure that clients have access to high potential Digital assets at discounted rates far below their market value. This will definitely benefit Huobi traders and provide endorsements for new projects as its only startup Coins that will be available on the launchpad.
Additionally, Huobi Prime is set to preferentially treat projects that the Global Ecosystem Fund or Huobi Capital have interests in through investments. In this regard, the first platform to benefit will be the TOP Network that specializes in providing low-cost messaging solutions on DLT.
It is important to note that since Huobi Prime is a form of a loyalty rewards program, users with more than 1,000 HT 30 days before the launch date. Huobi’s head of marketing, Ross Zhang, says that this standard is to ensure that the program benefits legit Huobi users, both normal investors, and whales, to enjoy the 30% discount on the market price of startup Coins.
Loyalty Programs For Crypto Exchange Platforms Are Gaining Prominence
Incentivizing users of Crypto trading platform is a new model of allowing users to easily invest in new Coins. Binance Coin (BNB) set the pace and emerging platforms such as CoinFLEX, and Bitcoin (BTC) futures platforms are following suit.
Therefore, the Huobi Prime solution is inviting high-quality projects to submit their Coins for a secure launchpad with a rich client base.