Huobi Launched Fourth PrimeVote, 21 Projects Compete for Top Spot to List on Huobi
Singapore
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April 17, 2023 09:23 AM Eastern Daylight Time
Singapore / April 17, 2023 / Huobi announced that the fourth round of its PrimeVote event has completed the recruitment phase, during which more than 150 projects have applied. 21 projects have been selected to enter the voting stage.The PrimeVote shortlisted projects include ADreward (AD), Arix (ARIX), Betterment Digital (BEMD), BCMX Project (BCMXT), C+Charge (CCHG), Chirpley (CHRP), Dhahab Sports (DHS), Goracle (GORA), Human Protocol (HMT), IMOV (IMT), Jot Art (JOT), Lithosphere (LITHO), Lovely Swap (LST), LUKSO (LYXE), Metaverser (MTVT) Nicho (NICHO), Optimus AI (OPTIMUS), RichQuack (QUACK), Squid Grow (SQUIDGROW), Stretch to Earn (STNH) and Tiger Trade (TIGR).
According to the announcement, the PrimeVote event is divided into two stages: the canvassing period and the voting period. The pre-event canvassing period starts at 10:00 (UTC+8) on April 17 and lasts for 5 days until 20:00 (UTC+8) on April 21. The voting period is divided into three stages: Preliminary, Semi-final and Final. It starts from 20:00 (UTC+8) on April 21 to 20:00 (UTC+8) on April 27, during which users can vote via locking their Huobi Token (HT), with 1 HT equivalent to 1 voting chance. During the Final stage, the winning project with the highest number of cumulative votes will get their token listed, and their voters will be able to share the prize pool of 100,000 USDT worth of project tokens proportionally.
* For more details about Huobi’s 4th PrimeVote:
https://www.huobi.com/support/en-us/detail/94935775318145
The fourth PrimeVote event competition mechanics is based on group eliminations (similar to that of the World Cup), which makes it more engaging and exciting than the previous rounds. The rules for PrimeVote are as such: During the Preliminary stage, the projects will be divided into Group A and Group B randomly. After the voting of Preliminary concludes, the top 2 projects with the highest number of votes will enter the Semi-final. Voted HT will be unlocked automatically at 23:00 (UTC+8) on the ending day of Preliminary voting. At the beginning of Semi-final, votes in Preliminary will be cleared. The 4 winning projects in Preliminary will go head-to-head according to the number of votes. After the voting of the Semi-final concludes, the projects with a higher number of votes in each group will enter the Finals. Voted HT will be unlocked automatically at 23:00 (UTC+8) on the ending day of Semi-final voting. At the beginning of the Final stage, votes in the Semi-final will be cleared and the two winning projects in the Semi-final will have an ultimate showdown. After the voting of Final concludes, the project with the highest number of votes will be the winner in this round of PrimeVote.
In addition, there is a vote cap for every participant account to ensure fairness. According to the event rules, the maximum number of votes per participant is based on their average HT holding between March 16 and April 16, 2023 (UTC+8), with a cap of 100,000 votes for the event. The Huobi team explained that this rule was implemented to prevent major HT holders from wielding unfair power and to ensure that the vote-to-list process is more fair and open to all HT holders. Huobi has always been committed to neutrality in token listing and fully respects the decisions of all users.
A new feature in this PrimeVote round, the community can partake in more active voting and cast their votes through a key opinion leader aka “lead voter”. Users can choose to be either a "lead voter" or a "follower" during the event. Each follower can choose one lead voter to follow and the follower is able to lock his or her HT and delegate it to the lead voter until the Final stage. Each lead voter can have multiple followers. During the voting stage, votes from the lead voter will be counted first and votes from his or her followers will be counted after. This new feature will provide more options for retail investors, empower community leaders, maximize the interests of retail investors, and also make the voices of community leaders heard in a more democratic way.
After three rounds of PrimeVote, Huobi has developed a unique approach to the token listing process. Huobi will continue to optimize the event rules for future PrimeVote events, introduce new features, and empower HT by promoting the long-term development of the token while selecting premium assets.
About Huobi
Founded in 2013, Huobi has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investment, incubation and other areas. Huobi serves millions of users worldwide, with a business presence covering over 160 countries and regions across five continents. Its three development strategies - "global development, technology drives development, and technology for good" - underpin its commitment to providing comprehensive services and values to global cryptocurrency enthusiasts.
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