After an extremely strong uptrend period of the market, this has also helped token sale platforms such as Polkastarter, DAO Maker, .. to ascend and become hotter than ever. In addition, major exchanges also always implement a plan to publicly sell the project’s tokens on their launchpad platform, represented by Binance – the number 1 cryptocurrency exchange today. Of course, the top 2 top 3 exchanges will not let their piece of cake be taken up and will stand up to regain their user market share. On May 20, Huobi Global will launch an IEO project on its platform and the project is called APENFT. Specifically, please read the article below!
What is Huobi Prime?
If you have ever participated in Binance Launchpad, Huobi Prime is similar to Binance Launchpad. Previously, Coin68 wrote an introduction about Huobi Prime.
Instructions to participate in IEO on Huobi Prime
Huobi Prime – Huobi’s exclusive token sale platform will launch a NFT project called APENFT at 19:00 on May 20 (Vietnam time). This is the 7th time Huobi Prime has hosted such an event, and this IEO will take place over two rounds.
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Users can only place orders with Huobi Token (HT)
Eligibility Criteria: User must hold a minimum of 300 HT daily from 23:00:00 May 13 to 22:59:59 May 19 (UTC).
To ensure fair distribution, there will be a per-account order value limit for the new token which will be announced on the day of the launch.
The new token sale event will be held from 19:00:00 to 19:29:59 on May 20 (UTC). There will be 3 rounds and each round will be 10 minutes long, with a 10-minute interval in between for payouts.
Order window for Round 1: 19:00:00 – 19:09:59
Payment: 19:10 – 19:19:59
Order window for Round 2: 19:20:00 – 19:29:59
*Note: All have been converted to VN time
1 . ring distribution mechanism
The first round of the IEO will be randomly executed based on two criteria: HT daily minimum holding and Order Quantity.
Users who meet the basic eligibility criteria can place orders on Huobi Prime during Round 1.
Once the sequence number has been generated, tickets will be issued based on the ranking criteria as shown in the table below.
When the Round 1 Order window is closed, the system will randomly select 1,500 tickets and fulfill the order of the selected ticket holder.
All orders with selected tickets will be traded on a pro rata basis with the following formula:
Each selected ticket counts as a separate portion of the trading volume.
The system will automatically deduct the traded HT, allocate tokens and return any HT if there is a balance.
Huobi Global star users will receive additional bonus tickets.
Number of Holds Per Day (HT) Number of HT Holds Issued Tickets (Normal Users) Issued Tickets (Star Users)
300≤x<600 300 1 2
600≤x<1000 600 2 4
1000≤x<3000 1000 3 6
3000≤x<5000 3000 4 8
x≥5000 5000 5 10
- Orders with value below 300 HT will not be eligible for any tickets.
** The lower of the two eligibility criteria will determine the number of tickets to be issued e.g. If you are a User not a Star User and have a minimum holding amount of 1000HT but place an order worth 900HT, you will be given 2 tickets.
Rules for Round 2
The second round of the IEO will be an allocation based on the number of pending orders, ranked at a pre-calculated rate.
User can place orders with value up to limit of remaining order value in HT.
Order value of the second round in HT = Order value in HT – the value of the total amount of HT traded in the first round;
Example: If a user’s order value limit is 4,800 HT and 1 of the 4 tickets issued to a user in Round 1 is selected, with a value of 50 HT of the token being traded, then limit the order for the second round. two would be 4,750 HT.
Users who have not used up their order value limit can place a buy limit order during the order placement period for Round 2.
At the end of the Place Orders window for Round 2, the system will execute a proportional match order for all buy orders at the same price.
The system will automatically deduct the traded HT, allocate tokens, and return any remaining HT from a proportionally ranked order.
Through the above article, Coin68 hopes that you can get all the information about Huobi’s IEO in the future and can seize the opportunity to make a profit. However, all information in this article is compiled by Coin68 and should not be considered investment advice, Coin68 is not responsible for any of your losses. Coin68 wishes you success!