As one of the leading cryptocurrency exchanges in the world, Huobi has created a thriving ecosystem of projects, tokens and users that can benefit from each other. One of the most important aspects of ensuring the ecosystem stays afloat is introducing and bolstering the growth of new and exciting projects.
That’s the goal of two of Huobi’s most popular community initiatives, Huobi Prime and Primepool.
Both platforms aim to support promising projects by giving them a platform to create awareness and adoption for their products, services and token launches. But what’s the difference between Prime and Primepool? And how can you participate in Prime, Primepool or both?
Huobi Prime: Propelling token discovery
Put simply, Huobi Prime is a convenient way for traders to access cutting-edge crypto projects in the Huobi ecosystem. Following the launch of the Huobi Asset Center, a business unit dedicated to asset listings, Huobi reintroduced Prime in May 2021 as a way to engage with the community and ensure investors from all backgrounds could support up-and-coming projects on the platform.
To ensure quality, a dedicated team screens and selects a few unique projects from tens and hundreds of projects that apply to have their tokens listed on the Huobi exchange. After a rigorous process, the selected projects are introduced to the community on Prime, where users can invest in them.
Every Huobi Prime event is dedicated to a new token so every event is different, but often they take place in separate rounds over a few days. For example, the seventh Prime event that introduced APENFT (NFT) took place over two rounds. Huobi users were required to hold a minimum of 300 Huobi Token (HT) for six days to secure their spots. In total, the event had approximately 27,500 participants. In the second round online, 13,910 of the 14,489 participants were able to take a piece of the 3,202,001,416 NFT prize.
When asked about the value Prime brings to the Huobi ecosystem, Ciara Sun, head of listing and blockchain investments at Huobi Group, said, “We want to promote inclusiveness in the crypto world and show that the market is not just for investors with deep pockets. Customer needs are at the forefront of everything we do at Huobi. Huobi Prime is very much an extension of that.”
Huobi Primepool: Supporting emerging projects
While Prime has been a popular way for Huobi community members to learn about new projects, Primepool has quickly become the go-to digital asset mining platform for users who want to support projects for the long term.
Launched earlier this month, Primepool is a digital asset mining platform that offers users an easy and convenient way to participate in the ecological development of newly-listed projects. Like Prime, Primepool has a relatively low barrier to entry to allow more users to participate.
The first Primepool event featured DeFine (DFA), a project aiming to build a decentralized NFT-based social network for Web 3.0, and offered a total prize pool of 2,250,000 DFA. Users staked certain amounts of HT and Ether (ETH) and were given rewards based on the tiered system. A special “lucky draw” event was held after and randomly awarded 120 winners with additional rewards.
Sun said, “We were thrilled to see 3,256 users spanning 79 countries participate in the first Primepool event, resulting in a 3% increase in the price of HT within the first 25 to 35 minutes. Through events such as Primepool, we're able to engage with our users in a more direct and interesting way, as well as reward them for their commitment to Huobi.”
After the first Primepool event, Huobi hosted a second event for Sakura (SKU), a cross-chain decentralized finance infrastructure based on the Substrate architecture for the Kusama network. Like the first event, the second event utilized the same tiered rewards system, offering retail investors even more opportunities to profit.
Looking back at the past projects that were featured on Primepool, from offering annual yield to event rewards, Huobi has provided investors with many opportunities to earn profits. This is also one of the reasons why Primepool is so popular.
Potential rewards available through previous Primepool events.
How to participate in the eighth Prime
Amid the ongoing excitement for new projects introduced by Prime and Primepool, Huobi is ramping up for more events.
The eighth Huobi Prime event is set to launch on Aug. 27 and will take place in two separate rounds. The new token to be listed on Huobi is EpiK Protocol (EPIK), a global leader at introducing consumer brands into video game ecosystems and producing unique in-game items, events and experiences.
General distribution mechanism:
1. Users can only place orders denominated in Huobi Token (HT).
2. Eligibility criteria: Users are required to have a minimum seven-day average holding of 100 HT from 4:00 pm UTC on Aug. 19, 2021, to 3:59 pm UTC on Aug. 26, 2021.
A snapshot of each participant's HT holding will be randomly taken every 24 hours (snapshots will be taken at any time between 4:00 pm on the current day and 3:59 pm on the next day).
Seven-day average HT holdings = total amount of HT seen in snapshots during the seven days divided by seven.
Users can check their HT holdings on Aug. 21 by clicking the “HT Holding Calendar” banner on the homepage and see their ticket number.
3. The new EPIK token offering event will be held from 12:00 pm UTC to 12:29 pm UTC on Aug. 27, 2021. There will be two rounds and each round will last for 10 minutes with a 10-minute period in between for clearance or settlement.
Order placement window for Round I: 12:00 pm to 12:09 pm
Clearance or settlement: 12:10 pm to 12:19 pm
Order placement window for Round II: 12:20 pm to 12:29 pm
For more information, visit the event page.
Moving forward with Huobi Prime and Primepool
Both Prime and Primepool are giving Huobi users more ways than ever to participate in the ecosystem and get rewarded for their support. We look forward to finding more exciting projects and introducing them to the Huobi ecosystem as we all work together to grow the blockchain and crypto landscape.