Innovation in the crypto industry has been exceptional, with new projects constantly launched as better ways to tackle the problems in centralized systems are discovered. Crypto professionals aim to develop systems that make things like financial freedom, retirement planning and censorship-free communication channels accessible to everyone.
Owning tokens linked to crypto projects enables you to participate in Web3 innovations easily. For example, you can buy NFTs, stake them to secure protocols and earn passive income, or lend tokens and earn interest as you would with a bank account (but with much higher APY). Often, owning tokens also allows you to vote on protocol governance decisions.
However, buying tokens can be difficult if their related projects are relatively obscure. They may not be listed on popular exchanges like Huobi Global, and you may risk losing your tokens in the process of buying them.
To make things less complicated, Huobi Global regularly researches new projects and adds their tokens to the Huobi Global exchange for trading. This makes crypto projects and their native tokens more accessible to traders. These new listings also offer greater visibility for projects, as well as a trading platform with more liquidity.
This is where CandyDrop comes in.
What is CandyDrop?
CandyDrop is an internal platform on Huobi Global that shares quantities of listed tokens with the Huobi Global community. All Huobi Global account holders can participate in listing events and stand an equal chance of winning tokens.
This way, Huobi Global functions as a middleman who helps crypto users find reliable new projects that are likely to reward them financially. This also benefits the project, as users who win the lottery will likely begin using its platform and products and quite possibly, become part of its community.
For example, if you look at the CandyDrop web interface (screenshot below), you will see newly listed tokens, the exact number of tokens to be shared and how many users can win these tokens.
Let’s examine one of these token listings as an example. Band Protocol’s (BAND) listing offered an airdropped amount of 25,006 BAND (worth around 85,425 USDT at the time). A total of 56,814 users registered as participants and 5,000 of them won the token lottery.
If you were one of the lucky winners, you would have gotten the tokens for free, to use any way you wished. For example, you could trade or sell them, or transfer them out of Huobi Global to be used for other purposes.
But how does one get picked as a winner? The selection of winners is randomized — think of it as a lucky draw in which each participant writes their name on a piece of paper and throws it in a hat, after which the first 5,000 names drawn from the hat are announced as the winners.
Before you can place your name in the hat, however, you must first engage in spot trading involving at least 100 USDT within three days. Once you have traded 100 USDT, tap ‘Join’ in the Huobi Global mobile app. You can also get a second ticket by trading an additional 300 USDT (read all the rules aquí).
How to join CandyDrop
To start, download the Huobi Global mobile app and log in to your account. Once you have logged in and completed the ID verification process, follow these next steps:
1. On the Huobi Global main page, tap CandyDrop. You may have to swipe right to see it.
2. Here, you will see all the CandyDrop token listings in which you can participate. Tap Join in the box next to the project in which you are interested; you can participate in more than one token listing. In this example, we will use VOXEL.
3. After tapping Join, you will see the screen below. From here, tap Join again. Note that you must trade a certain volume of USDT daily before you can join (reflected in the Vol/Day field). You should also read about the related project under the Join button.