The IEO Craze: How to Participate In Huobi Prime’s TOP Network Listing

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Huobi Prime Launch

Huobi’s internal exchange offering (IEO) platform– Huobi Prime, is set to launch its very first fundraising event tomorrow, March 26th.

In Contrast To Binance Launchpad, Huobi Prime boasts a somewhat unique launching and participation mechanism, so let’s have a closer look at Huobi’s IEO.

Selective Token Listings

Based on the official release, the main purpose behind the platform is to “explore potential blockchain applications, collect industry resources, and enhance the development of the blockchain ecosystem.

” Unlike Binance’s Launchpad, Huobi won’t “issue” tokens per se, but would list them directly via Huobi Prime for trading. According to the announcement, the exchange will source non-security blockchain assets and list them directly against Huobi Token (HT) for public trading.

To foster price discovery and to avoid risks connected with high volatility, the platform Huobi-primeintroduces so-called “Price Limit” rounds. There will be a sum total of three of these rounds, each one lasting half an hour. Throughout those rounds, the tokens will be traded in a predetermined price range, indicating that the highest tradable price will be capped in those rounds. Only normal market orders will be around throughout the time of these three rounds.

In addition, Huobi has developed an eligibility threshold. For you to participate in these selective token listings, users need to have a daily average holding of 500 HT throughout the last 30 days preceding the trading session (TOP Network skipped this rule as the first sale). Having said that, the release in addition disclaims that these holding requirements might be altered accorded to HT price movement.

About TOP Network’s Listing: How to Participate?

TOP Network will be the first project launched via Huobi Prime, and it will include the following three rounds:

Price Limit Round 1: It will take place from 21:00 to 21:29:59 (GMT +8). During this period, the highest tradable price for 1 TOP will be $0.00177.

Price Limit Round 2: It will take place from 21:30 to 21:59:59 (GMT+8). The highest tradable price for 1 TOP will be $0.00213.

Price Limit Round 3: It will take place from 22:00:00 to 22:29:59 (GMT +8). The highest tradable price for 1 TOP will be $0.00255.

There is at the same time an individual cap, indicating that no account can trade in excess of the equivalent of $1000.

It seems that users who have the ability to purchase tokens in the earliest rounds will be able to profit off the increased price limit of each subsequent round, given there is enough demand.

It’s essential to take note that the TOP Network listing, being the first one on Huobi Prime, won’t call for users to have held 500 HT for 30 consecutive days prior to the sale.

On the 26th, Huobi will enable a live link to Huobi Prime, enabling users to access the selective token listing. Typically, however, the platform has made certain that the process will be roughly the same as it is to trade regularly on Huobi. There is a detailed guide about what to do found on the official website.

The post The IEO Craze: Huobi Prime’s TOP Network Listing Starts Tomorrow – How to Participate? appeared first on CryptoPotato.

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