Huobi Global Will Announce A New Token on Huobi Prime on May 20th
Huobi Global is proud to offer you a new token on Huobi Prime, our exclusive token offering platform, at 12:00 on May 20th, 2021 (UTC). This is the 7th time Huobi Prime is holding such an event and the event will take place in two separate rounds.
Huobi Prime allows Huobi Global users to place an order to receive allocations of a new token before it is listed on the exchange. Orders are to be made in Huobi Token (HT), and only users that have a minimum holding of 300HT will be allowed to place orders for the new token.
Click to check the latest rules: Huobi Global to Return All Traded HTs from the Prime Event
I. General Distribution Mechanism:
1. Users can only place orders denominated in Huobi Token (HT)
2. Eligibility Criteria: Users must have a minimum daily holding of 300 HT from 16:00:00 on May 13th, 2021 to 15:59:59 on May 19th, 2021 (UTC).
3. To ensure fair distribution, there will be a per-account order value cap for the new token which will be announced on the launch date.
4. The new token offering event will be held from 12:00:00 to 12:29:59 on May 20th, 2021 (UTC). There will be two rounds and each round will last 10 minutes, with a 10-minute period in between for clearance/settlement.
- Order placement window for Round 1: 12:00:00—12:09:59；
- Clearance/Settlement: 12:10:00—12:19:59；
- Order placement window for Round 2: 12:20:00—12:29:59；
1st Round Distribution Mechanism
1. The first round of the distribution will be conducted as a random draw based on the lower of two criteria: daily minimum holding of HT and Order Size.
2. Users who meet the basic eligibility criteria may place orders on the Huobi Prime page during the Order placement window for Round 1.
3. After the order number has been generated, tickets will be issued based on the lower-ranking criteria of either the user’s daily minimum holding of HT or their Order Size (see chart below).
4. At the close of the Order placement window for Round 1, the system will select 1,500 tickets at random and fulfil the orders placed by the holders of selected tickets.
5. All orders with selected tickets will be traded on a pro-rata basis with the following formulae:
6. Each selected ticket is counted as a separate share of the trading volume.
7. The system will automatically deduct the HT traded, allocate the tokens, and return any remaining HT from a pro-rated order.
8. Huobi Global Star Users will receive bonus tickets (Star users refer to those who hold a daily minimum amount of 300 HT from 16:00:00 on Sept 11th, 2019 to 15:59:59 on May 19th, 2021 UTC).
1. *An order worth less than 300 HT will not qualify for any tickets.
**The lower of the two qualifying criteria will determine how many tickets are issued, eg. If you are a non-Star User and have a minimum holding of 1000HT but place an order worth 900HT, you will be issued 2 tickets.
Rules for Round 2
1. The second round of the distribution will be a proportionate allocation which is based on the number of pending orders, pro-rated based on availability.
2. Users can place orders worth up to their remaining order value cap in HT.
2nd round order value cap in HT = Order value cap in HT – value of any HT traded in the 1st round;
For example: If a user's order value cap is 4,800 HT, and 1 of 4 tickets issued to the user in the 1st Round is selected, with 50 HT worth of tokens traded, then the order limit for the second round will be 4,750 HT.
3. Users who have not used up their order value cap can place buy limit orders during the Order placement window for Round 2.
4. At the end of the Order placement window for Round 2, the system will perform proportional matching transactions for all buy orders at the same price.
5. The system will automatically deduct the HT traded, allocate the tokens, and return any remaining HT from a pro-rated order.
II Price Limit Period (12:00:00 to 12:29:59 on May 20th, 2021 UTC)
Both rounds are set with a tiered price-limit period, and each round is set with a price limit range (the highest tradable price) where users can fulfill orders.
There are two rounds in total and each round will last 10 minutes, with a 10-minute period in between for clearance/settlement.
- Price limit for Round 1：12:00:00—12:09:59；
- Price limit for Round 2：12:20:00—12:29:59；
III Information about the new token will be revealed closer to the event date.
1. The Huobi Token (HT) of all Huobi Global accounts is within the scope of the snapshot, while the HT on the Huobi ECO Chain (Heco) is excluded.
2. After the second round, all partially traded orders will be automatically canceled by the system.
3. To avoid irrational operations, the platform will restrict the use of the market price when trading within 5 minutes after the opening of free trading. The price of the pending order shall not be higher than 10 times the price set in the second round and this price restriction will expire after 5 minutes.
4. Users in the following countries/regions are unable to access Prime: Cuba, Iran, North Korea, Japan, Sudan, Syria, Crimea, and the United States ([including all U.S. territories such as Puerto Rico, American Samoa, Guam, Northern Mariana Island and the U.S. Virgin Islands (Santa Croix, St. John, and St. Thomas)].
5. Users are required to complete advanced verification before the launch.
6. API order will not be available during Prime.
7. Huobi Global reserves the right to disqualify any participants showing signs of fraudulent behavior.
8. Cryptocurrency trading is subject to high market risk due to price volatility. Huobi Global does not make any guarantee on the token price which may bring losses or profits to users based on market performance. Please make your trading decisions cautiously. Huobi Global will not assume any responsibility or liability for any trading losses.
9. Huobi reserves the right of final interpretation for all aspects of this event.
May 11th, 2021
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Huobi Global reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.