Following the success of the first Huobi Primepool event, Sakura (SKU), the newest project to list on Huobi Primepool, commenced trading at 8:00 am UTC on Aug. 16, 2021. Starting at the opening price of 0.0100 Tether (USDT), SKU skyrocketed to 3.10 USDT with the price change breaking 30,900% in five minutes.
Launched in July 2021, Huobi Primepool is a digital asset mining platform that aims to offer users an easy and convenient method to participate in the ecological development of the new listing projects.
Nearly 38,786 users spanning 95 countries participated in the second Primepool event — a significant uptick from the first event. More than 57.83 million Huobi Token (HT) and 20.33 million Clover Finance (CLV) were locked in the first round, and a total of 15.60 million SKU were distributed to participants at the end of the first round. The value was $160,000 based on the opening price and $48.36 million based on the highest price.
According to data from Huobi, the annualized yield of HT mining is as high as 933.02% and the annualized yield of CLV mining is as high as 3401.89%.
With a total of 16.83 million newly listed token rewards up for grabs, the second Primepool event underscored Huobi’s efforts to fulfill its commitment to its community, as well as the expansion of the Huobi Token ecosystem. The second event also utilized a tiered rewards system, offering retail investors even more opportunities to profit.
“Many of the users from the first Primepool event were happy with their rewards, so we were excited to keep the momentum going and launch a second event to bring more exciting projects and opportunities to the community,” said Ciara Sun, head of listing and blockchain investments at Huobi Group.
Huobi boosts revenue through community engagement
Recognized for its technology, risk management strategy and commitment to its community members, Huobi is one of the top exchanges in the world. Earlier this month, Huobi revealed its trading volume reached $15.17 billion in Q2 of 2021. The number of users using its native token HT has increased approximately 2% from June thanks to events such as Primepool and Prime, Huobi’s exclusive token offering platform that allows users to place an order to receive allocations of a new token before it is listed on the exchange. Together, these events are elevating the value of HT and the entire Huobi ecosystem.
The financial opportunities available through Huobi events have not gone unnoticed by the community, which only contributes to more excitement and engagement. Whether it pertains to annual yield or event rewards, there are many opportunities for investors to reap rewards.
Potential rewards available through previous Primepool and Prime events
The current impact and potential of the Huobi ecosystem have not gone unnoticed by industry thought leaders either. Sam Bankman-Fried, the founder and CEO of FTX, recently talked about Huobi on Twitter, citing its revenue and HT’s market capitalization.
The eighth Huobi Prime event
The latest Huobi Prime event will commence on Aug. 27, 2021. It 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
Users can only place orders denominated in HT. To be eligible to participate, 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.
For more information on the distribution mechanism, please visit Huobi’s official website.
“Over the span of just eleven days, we’re offering HT holders the chance to obtain two newly listed tokens,” said Sun, adding, “Events like Huobi Primepool and Prime are integral to our ecosystem. Without our community’s participation and support, we wouldn’t have the success we do today. We look forward to more innovative and lucrative ways for our community to receive rewards in the Huobi ecosystem.”