When was huobi prime 1 top network launched

Huobi introduces Huobi Prime; a simpler, organized and democratic process that enables traders to maximize on token listings on its exchanges. “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. New optimizations in the listing process have been introduced to provide a better trading experience as Huobi plans to hold its second Prime token listing on the 16th of April.

In the recent past, we have seen a lot of crypto coins rallying from their all-time lows witnessed towards the end of 2018, signifying a change in the bearish market trends. The current market trend has inadvertently galvanized a number of crypto influencers into releasing bullish sentiments on social media. In the wake of market cap recovery of many token prices, an even more positive but less noticeable trend is that relatively new projects, especially ones that are launched through reputable exchange platforms, have done quite well even in the winter of the bear market. This aspect can be attributed to the extra reach that the vibrant communities of the exchange platforms provide, which coupled with the native community of the listed token create the demand and enthusiasm that buoys up the token prices.

In crypto more than anything else, community sentiments and confidence levels in any given project are driven by listing on a good exchange, and for obvious reasons, community sentiments often reflect on the price. Over the simplistic capitalistic tendencies of traders who time new projects to make quick cash, the listing on good exchange fulfills the fundamental purpose of cryptocurrencies; to provide democratic access to digital assets without geographic barriers.

Within this background, Huobi has launched Huobi Prime, a Direct Prime Offering (DPO) platform which essentially solves three key challenges of the traditional listing processes.

• Firstly, it instills a sense of accountability in the process. The virtuous screening process ensures only reputable projects with real use cases get a chance for listing.
• It makes the process of participating in ICO’s exponentially easier. The first aspect of this relates to the fact that users can participate in the token sale at the token listing, which mitigates the risk of participating in token sales, only for your desired project to be listed at a wrong time, or on a lower tier exchange with no real benefit to a projects ecosystem.
• The program also works two ways to protect projects from listing woes common with unregulated listing processes, where a few traders may selfishly drag down prices to “shake out weak hands”. Such situations reflect negatively on a project, which may have a hard time regaining public trusting its viability. Huobi achieves fairness in the listing process through a tiered roll out. For example

  “In order to mitigate periods of extreme volatility when the market opens, and to reduce the risk of adverse impacts on investors, we have also added a period of tiered price limits.”

The first project to be launched on the Huobi DPO was TOP Network; a DAG-based blockchain platform project that focuses on building the infrastructure for a decentralized open communication Network. For perspective, let’s have a look at TOP Network project in the context of parameters that Huobi considers when evaluating projects for listing on Huobi Prime.

a. A strong project team:

In this regard, TOP Network has a solid team by industry standards, with firmly grounded experience in Communication Networks. For instance, CEO Steve Wei and Chief Architect Kelvin Yang, both founded Dingtone a calling and messaging platform which has an existing user base estimated at over 35 million. Dingtone handles over 10 billion minutes of VoIP calls per year, and 1 million messages daily. The plan is to move this mammoth, existing service to the TOP blockchain and make it a decentralized messaging app. Moreover, CMO Noah Wang, a Yale graduate, has had in-depth managerial experiences in the world’s TOP financial institutions including PwC, and as the U.S Regional Head of Starr Strategic Holding.

This quality in education and practical business experience can be seen recur among all team members.

b. A progressive business model:

For TOP Network, it starts at their value proposition. TOP Network will provide interoperability among communication software like emails, messaging apps, VoIP. Imagine a scenario where a user can place a call from WhatsApp to a user on Telegram, or call an office user on Gmail hangouts. At the core of TOP Networks offering is privacy and security in communications, with an end to end encryptions, a key element that blockchain Networks provide. TOP Network also hopes to maximize on the low costs of running decentralized Networks to minimize the charges users will pay for using the Network for communications. Ross Zhang from Huobi was quick to point out that this progressive business model was crucial in granting TOP Network the opening spot on Huobi Prime.

Additionally, the communication Network will provide VPN services, CDN services, Video Streaming, IoT data sharing, and cloud storage services. There are also production time-cost benefits that will come from having one standard communications protocol. Firstly, TOP Network provides a full stack cloud communication service which frees App developers from having to develop their own communication stacks. Secondly, the interoperability in applications will cut out a lot of redundancy in communication systems, where you have to install a lot of apps in order to communicate with different people in different geographical locations.

c. Impressive financial backing:

TOP Network is backed by industry heavyweights, Fenbushi and Digital Horizon Capital (ADVC) among other industries respectable venture firms. You can view the image below, to see the impressive list (by industry standards) of TOP Networks financial backers.

d. Excellent support in the community:

While researching on this article, I joined TOP Network’s online channels, and it is evident that TOP Network enjoys a healthy relationship with its community of users and investors where users are free to engage with project leaders on how best to realize the vision of the project.

e. A solid reputation (no negative news or scandals):

After a search on the internet, nothing major comes up about TOP Network that could cast it in a negative light.

f. Have not previously been listed on a major exchange:

TOP Network was exclusively being listed for the first time on Huobi exchange

“We’ve worked closely with Huobi and they won our trust through their professionalism, open-mindedness, and overall friendliness to projects,” said Wei. “We were impressed by Huobi’s positive reputation and strong branding power and we are happy to launch TOP Network on Huobi Prime.”

UPCOMING SECOND PROJECT ON HUOBI PRIME

Following the success of the launch of TOP Network on Huobi Prime, Huobi has scheduled the launch of a second project on Huobi’s novel DPO. Here are the stats from the impressive first Launch of TOP Network on Huobi Prime.

• All of the 1.5 Billion TOP tokens were successfully sold
• On average, transactions took 6 seconds to process for all the three rounds of Prime trading
• Over 130 thousand persons took part in the process, of which 3,500 people managed to buy the tokens.

Launching on 16th April ( GMT+8 ), the second Prime trading process will see a bit of restructuring to provide a better trading experience for all users. Firstly, the 30 day HT holding rule will be implemented as a requirement to participate in the token listing trade (Users need to have maintained a minimum account balance of 500HT over the previous thirty days to qualify). Secondly, other technical and managerial optimizations will be implemented from the feedback and recommendations Huobi received during the first event.

Thirdly the new listing process has changed such that:

• Huobi has introduced a progressive model that correlates the number of HT tokens to the number of days held. This model ensures that regardless of the day you purchase HT, as long as the average number of tokens held in your account per day equals the number of tokens previously required for the thirty-day holding period, you’ll have access to participate in the Prime listing. For illustration look at the figure below.
• Trading rounds will take a shorter time span, with five minutes trading rounds and five-minute breaks compared to the previous 20-minute trading rounds with 10-minute breaks.
• There will be a special third round in which anyone who qualifies for Huobi Prime trading and places an order will get at least some tokens they want.

CONCLUSION

From my viewpoint, the TOP Network project is based on futuristic, egalitarian concepts. Presently, we often struggle with restrictive centralized communication Networks, with expensive rates and the ever foreboding feeling of being watched that comes from using centralized communication systems. TOP Network has the potential to change the communication game if the team is supported and tasked to deliver by an existing and growing user base.

Most notably, Huobi Prime is about leveling the playfield, ensuring whales and small players enjoy equal access to trading opportunities. This is underscored by the opportunity to buy tokens at prices that are below the market price. Not to mention, coins purchased through Huobi Prime are delivered in real time, and a user can immediately start trading with the bought tokens against HT (Huobi exchange platform’s native token.)

Another significant aspect is that projects listed on Huobi Prime undergo strict scrutiny, safeguarding investors from the pitfalls of unscrupulous project teams out to make a quick buck. On the broader spectrum, the introduction of Huobi prime has greatly increased the efficiency and value of the Huobi ecosystem. This value has certainly reflected on Huobi Token market price, given that the token has had a 3x price rebound (2.85 USD as of writing this article) from the average 0.9 USD price lows witnessed at the beginning of the year. Token price is more than an indicator of the belief in the community in the value proposition of the Huobi ecosystem as a whole; it also reflects the demand from the growth of the ecosystem as new users join in the Huobi ecosystem to enjoy revolutionary services like Huobi Prime.

When was Huobi token launched?

Huobi Token is a relatively young project. It first launched in January 2018, hot on the heels of the release of a native token on rival crypto exchange Binance.

What is Huobi 1?

What is Huobi Token? Huobi Global exchange allows users to buy, sell, stake, and borrow a broad range of cryptocurrencies, encompassing a comprehensive ecosystem for experienced crypto traders and investors.

Is Huobi available in USA?

Huobi Global is not available in the U.S. Huobi offers deep liquidity in leading cryptocurrency trading pairs. The exchange supports more than 700 cryptocurrencies.

What countries are restricted by Huobi?

Huobi Available Countries.

Banned Countries - China, USA, Cuba, Iran, North Korea, Sudan, Syria, Venezuela and Malaysia..

Derivatives Not Available - Taiwan, Hong Kong, Israel, Iraq, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, Sevastopol, Spain, the UK and New Zealand..