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Huobi Global to launch token sale platform “Huobi Prime”

Thu, 21 Mar 2019, 09:07 am UTC

Cryptocurrency exchange operator Huobi Global has unveiled a new platform to provide investors with better access to cutting-edge crypto projects with a high potential for impact and growth.

Called Huobi Prime, the new token sale platform will be launched on March 26. The first coin to launch on Huobi Prime will be TOP, the native token of TOP Network's public blockchain project.

Huobi Global said that Huobi Prime is a “Direct Premium Offering” (DPO) platform with a number of advantages. First, all coins purchased through the new platform will be immediately deposited into user's accounts and are tradable on Huobi Global against Huobi Token (HT), Huobi Group's native token.

"Powered by Huobi Token, Huobi Prime will keep our brand at the forefront of the ever-changing digital asset marketplace," said Robin Zhu, COO of Huobi Group.

Second, Huobi Prime will carry out rigorous screening and selection process to ensure that only premium projects are included. Third, it is adding a period of tiered price limits to mitigate periods of extreme volatility when the market opens and to reduce the risk of adverse impacts on investors.

Other advantages include early access to coins at below market prices for both big and small players. However, individual purchases would be capped at the equivalent of $1,000 USD in Huobi Token.

"Customer demand and user needs are at the forefront of everything we do here at Huobi. Huobi Prime is very much an extension of that," said Leon Li, Founder and CEO of Huobi Group. "We've designed it from the ground up to be a more innovative, direct, and responsive way to access up-and-coming new tokens."

According to the official release, listing through Huobi Prime will involve three rounds of coin offerings, each lasting 30 minutes. The price will be capped but the cap will rise as time goes on.

Huobi Global is latest to join the growing trend among cryptocurrency exchanges to launch token sale platforms. Binance could be said to be a pioneer in this space with Binance Launchpad. Other exchanges that have announced their token sale platforms include KuCoin and OKEx, among others.

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