FastTrack Phase 1 Vote-to-List Premieres June 13

Dear users,

Huobi Global will launch FastTrack on June 13 2019, commencing with Phase 1 Round 1 voting round. In this round, 5 superior projects will compete to list. All HT received from the voting round will be burnt (i.e. destroyed) on the same day.
In this Phase, there will be 4 voting rounds to select 4 projects to be listed; approximately 4 million USDT worth of project tokens (market price) will be sold (at a discount of around 50% off to voting users), whilst, an equivalent of 2 million USDT worth of HT will be burnt.

Project Candidates for FastTrack Phase 1 (in random order)
1. Project Name:Atlas Protocol (ATP)
Project Introduction:Click here for more

2. Project Name:Fusion (FSN)
Project Introduction:Click here for more

3. Project Name:New Kind of Network (NKN)
Project Introduction:Click here for more

4. Project Name:Origo.Network (OGO)
Project Introduction:Click here for more

5. Project Name:Skrumble Network (SKM)
Project Introduction:Click here for more

FastTrack Rules:
1. Voting & Listing Rules:
1) Target Schedule:
The first round of voting will see 5 project candidates undergo HT voting. The project with the highest HT vote count shall list on Huobi Global’s main board the same day. Schedule details are as shown below:
Voting Stage: 20:00:00 – 20:59:59 June 13, 2019(GMT+8) (1 hour in total);
Token Exchange: 21:00:00 – 21:09:59 June 13, 2019 (GMT+8);
Listing Stage: 22:00:00 June 13, 2019(GMT+8);
The project with the highest vote count shall commence free trading on the same day with the simultaneous launch of USDT, BTC and HT trading pairs.

2) Voting Stage:

  • Huobi Global users who are qualified to vote on FastTrack will cast their votes with HT during the voting round, exchanging their HT votes for the project token of the project with the highest vote count. The project token with the highest vote count wins and will qualify for listing. There is no cap applied to the number of votes a project can receive.
  • If two(2) projects receive the same vote count, the project with the largest number of voter headcount wins.
  • A user can only vote for one project in each voting round, and cannot cancel the vote.
  • Voting sessions will be carried out weekly, with a total of 4 voting sessions per month.
  • Projects that have failed to be voted in by end of month, will roll over to the next month. If the project is still not voted in by the 2nd month, it cannot participate in future FastTrack voting sessions.

3) Token Exchange:

  • All participating HT voters who have voted for the week’s winning project token will be eligible to purchase the said tokens at the discounted price. Remaining HT arising from the token exchange will be returned to the users after the voting stage. Ten(10) lucky users amongst the participating HT voters who voted for the winning project will be able to exchange all their HT votes for the project token. Remaining users will be allocated fills on the remaining token quantity in proportion to their HT votes;

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  • The system will automatically return all HT used in the voting session to HT voters who failed to vote for the winning project after the voting session is over.
  • Actual token exchange price ratio will be announced the morning of June 13.

4) Huobi Token Burn:
All HT received during the voting stage shall be burnt (i.e. destroyed) on the same day.

2. Voting Eligibility & Cap

  • Voting eligibility and voting cap will be based on the minimum HT held during the HT Holding Period. The HT Holding Period for Phase 1 Round 1 is measured from the last Prime Lite launch date till the upcoming FastTrack voting round i.e. 00:00:00 May 9, 2019 – 23:59:59 June 12, 2019(GMT+8). HT holdings will base on daily random snapshots.
  • The number of votes a user can cast will depend on their minimum HT held during the applicable HT holding period, subject to a minimum HT holding floor of 1,000HT and cap of 5,000HT. For example: A user with a minimum HT holding of 6,500HT during the holding period will receive 5,000HT equivalent voting rights.
  • Voting eligibility of FastTrack:The HT Holding Period is measured from the last FastTrack voting round till the upcoming FastTrack voting round, so the HT Holding Periods for the rounds to come are as follows:
    2nd Round:00:00:00 June 13 – 23:59:59 June 19 (GMT+8)
    3rd Round:00:00:00 June 20 – 23:59:59 June 26 (GMT+8)
    4th Round:00:00:00 June 27 – 23:59:59 July 03 (GMT+8)

Further Notice:
1. FastTrack will inherit the Prime Lite Trading Protection: In order to avoid extreme price volatility due to exuberance, we will restrict the use of market orders within 5 mins after official trading opens and users are unable to place orders at prices 5 times higher than the highest tradable price during Price Limit Round;
2. Huobi reserves the right to void a project’s vote count, or eliminate FastTrack voting eligibility if signs of cheating are discovered.

Risk Reminder:
Trading digital assets comes with high risks due to huge price fluctuations. Before investing, please have full understanding of all the risks in investing in digital assets and be prudent of your own decisions. Huobi does not take responsibility for any resulting direct or indirect losses;

Huobi reserves the right for final interpretation.

Huobi Global
June 5, 2019