Rule Introduction of Huobi FastTrack (Phase 11)
Huobi Global will officially launch FastTrack (Phase 11) on July 28, 2020 to vote for the next listing. This period is divided into two stages: "Deposit to Vote" and "Use HT to Vote". The two projects will provide a total of 500,000 USDT equivalent token rewards. After these phases, a total of approximately 150,000 USDT equivalent in HT will be burned.
I. Deposit to Vote
Event time: July 28, 2020 00:00:00 - July 29, 2020 11:59:59 (GMT+8)
- Rules of event
During this event, ID verified users (Pass ID verification before 11:59:59 on July 29) can deposit tokens of one or two of the projects currently up for a vote on Huobi. Rewards will be shared according to the amount deposited. (Deposit amount is calculated into HT; 1 HT is counted as 1 vote). During this phase, each project will release 100,000 USDT equivalent token rewards for the community.
How is your reward determined?
User’s reward = user’s total deposit amount / total deposit amount of all users * tokens of the project provided during this event.(100,000 USDT)
2. Deposit limit
Each project has an independent deposit limit (the lowest limit is 10 HT, the highest limit is 5000 HT equivalent project tokens). The excess amount is still calculated as 5000 HT. The deposit amount will include sub-accounts as well. The conversion ratio of project tokens to HT will be announced in the announcement on July 27.
II. Use HT to Vote
Event time: July 29, 2020 20:00:00 - July 29, 2020 20:59:59 (GMT+8)
- Rules of event
During this event, users can only choose one of the projects to vote for to be listed first. (1 HT is counted as 1 vote). After the voting is over, the system will exchange the tokens for the user according to the discounted ratio (about 50% off) and return the remaining HT. At this stage, each project will release 150,000 USDT equivalent tokens. Among them, users will be picked at random to share 20% of the project's tokens that are released in this phase according to the HT voting ratio, and the remaining users will share the remaining 80% tokens according to the HT voting ratio.
The reward for non-lucky draw winners = user’s vote / total votes of all users except lucky draw winners * (corresponding tokens of project releasing in this phase * 80%)
The reward for lucky draw winners = user’s vote / total votes of all lucky draw winners * (corresponding tokens of project releasing in this phase * 20%)
2. Voting quota
The user’s voting amount is determined by the user’s minimum daily HT holdings (daily random snapshots are taken) during the two phases of FastTrack. The lower limit of the voting quota is 1000 HT and the upper limit is 5000 HT.
The voting threshold of the current phase is set from the 10th phase to the FastTrack voting day of this phase. (i.e., October 30, 2019 00:00:00 to July 28, 2020 23:59:59 (GMT+8), the user’s daily minimum HT holdings need to be ≥ 1000 HT). The user holdings will be announced on July 27.
III. Rules of lucky draw
1. Take the hash value of the last BTC block before 21:00:00 (GMT+8) on July 29, 2020 (including that moment).
2. The hash value and the user’s order number are matched from the last digit forward. The 200 users with the most consecutive digits (100 voting users for each project) win the lucky draw award. After the user completes the vote, they will automatically get an order number which can be viewed on the voting page.
3. If the number of matches exceeds the number of winning places, the winners will be generated according to the value of the user’s order number from small to large (the smaller the value, the earlier the voting time).
Detailed rules for hash comparison:
1. Assume that the hash value of the last BTC block before 21:00:00, July 29, 2020 (GMT+8) is
2. Filter the letters from the end of the value to get a string of numbers as winning numbers:
3. The comparison starts with the maximum digits of the order number. For example, the maximum digits of the order number are 9, then the last 9 digits are taken from the winning numbers to start the comparison.
a. Comparing the order number, if it exactly matches the last 9 digits, 673186813 of the winning numbers, you will win.
b. If the first digit does not match, compare the last 8 digits of the order number. If it matches the last 8 digits of the winning numbers, 73186813, you will win.
c. If the first 2 digits do not match, compare the last 7 digits of the order number. If it matches the last 7 digits of the winning numbers, 3186813, you will win.
d. And so on. If 99 users have won a project before, when the last 4 digits are retrieved, there are 3 users whose order numbers match the last 3 digits of the winning numbers, such as 106813, 56813, 86813, according to the order number ranking for small to large order number value, 56813 wins.
- Open trading
After the "Deposit to Vote" and "Use HT to Vote" stages are over, the two candidates votes will be totaled to decide who has achieved the most votes.
The project with the highest number of votes will be launched on the day of voting (July 29). USDT, BTC and HT trading pairs will be opened at the same time.
The second-ranked project will be launched on Huobi Global on the third day of voting (July 31). USDT, BTC and HT trading pairs will be opened at the same time.
Opening protection: Huobi Global will restrict the use of the market price trading function within 5 minutes after opening trading. And the price of the order for limit trading shall not be higher than 5 times the price limit during the price limit period. Normal trading will resume after 5 minutes.
- HT burning
All HT (about 150,000 USDT equivalent HT) obtained from the transfer of the current phase of listing projects will be burned on the day of voting (July 29).
- During the Deposit to Vote stage, users must pass ID verification before 11:59:59 (GMT+8) on July 29, 2020. Otherwise, they will be deemed to have voluntarily given up the qualifications. And the user can select 2 projects at the same time and win the rewards separately. During the HT Voting stage, users with voting quota can only select one of the projects.
- The rewards of the two stages will be distributed within the day of the event (expected before 22:00:00 (GMT+8) on July 29, 2020).
- The conversion ratio of project tokens to HT and USDT will be announced in the announcement on July 27. If the "Use HT to Vote" day (July 29) the prices of tokens drop, we will issue a new announcement and appropriately increase the total numbers of tokens to be given out to maintain the total value of the project token rewards at approximately 500,000 USDT.
- In case of cheating, Huobi Global reserves the right to cancel its reward qualification for the project or the project’s qualification to participate in FastTrack voting.
- Huobi FastTrack is limited to users in areas where digital asset trading is compliant (subject to the nationalities supported by the current official website for registration). During the two phases of FastTrack, HT Voting periods, if there are a nationality change and the nationality before the change is no longer supported for registration, the user will not be able to obtain the current voting quota.
6. Risk warning
- Digital asset trading is a high-risk trading method that may cause partial or total losses. Users are requested to participate cautiously and carefully consider the experience of trading digital assets and the degree of risk that can be tolerated before deciding to buy or sell.
- The content of FastTrack announcement and other information on Huobi Global is not a suggestion of investment advice. Huobi will not bear any direct or indirect losses arising from reliance on such information. Huobi does not assume responsibility for guarantees, compensation, etc. for trading.
The final interpretation right of the business belongs to Huobi Global. Enjoy your trading!
July 22, 2020