Huobi Global Launches Thunder Token (TT) as the First Project on Prime Lite
On the 23rd of April, Huobi Global, announced the launch of an ultra-fast version of its Direct Premium Offering (DPO) platform Huobi Prime. The new and accelerated version of the platform is called Prime Lite.
Huobi Prime has seen a successful launch with the direct premium offering (DPO) of TOP Network tokens (TOP). The entire batch of TOP tokens sold-out in three token sale rounds at a 6-second average before being sold. A total of 130,000 global customers participated in the event, with 3,764 people successfully buying TOP during the sale. Instructions on how to participate in the Huobi Prime DPO can be found here.
The second DPO that launched on Huobi Prime was Newton (NEW). The DPO and subsequent token trading launch on the platform again were very successful.
Newton’s native token NEW started trading on Huobi Prime on the same day the DPO occurred. Prices surged to +500% above the token sale price on the first day. The days after the price continued to increase, reaching its peak on the third day after the Huobi Prime launch.
Because of the rule changes on Huobi Prime, users that wanted to participate in the Newton DPO, always got some tokens if they weren’t successful in the first two rounds of the token sale. In the third and final round 50% of the NEW token supply for Huobi Prime, was left to be divided between Prime users.
In the image above, you can see the price trend during the first five days in which IEOs and DPOs have been held. As you can see, Huobi Prime projects have seen price increases, days after the token launch on the exchange.
Huobi Prime Lite
Prime Lite is a niche product which has derived from Huobi Prime. Projects that want to list on Prime Lite, still need to pass the Smartchain v2.0 evaluation model. There are three key differences between Prime and Prime Lite, where Huobi Prime Lite has:
1. A shorter listing cycle and a more flexible listing schedule
2. More flexible trading allocations for users
3. The added benefit of a Huobi Token (HT) burn, to further facilitate the development of HT
An overview of the actual differences between Huobi Prime and Prime Lite:
— Prime Lite only has one trading round that will last for 30 minutes. The time users have to send in their orders is 20 minutes. After that, it will take roughly 10 minutes to process all the orders that came in. Huobi Prime has three trading rounds.
— The HT minimum holding amount has been lifted for Huobi Prime. Every Huobi user has a basic personal cap of 100HT. An additional can be earned by holding HT in your account 7 days before the DPO event. If you hold 500HT during the entire 7 days before the event, your additional personal cap will be 500HT. If you temporarily sold HT in those 7 days and the daily snapshot is taken during that time, you will have no additional cap.
The total allocation of TT will be worth roughly $500,000. The equivalent in Huobi Tokens that is collected in the sale will be burnt. This will over time decrease the total amount of circulating HT, making the token deflationary.
Because of the relatively low amount of Thunder Token allocation, buy orders probably will not be fully executed. The token amount that is expected to be filled is the order amount placed divided by the total order amount times the Prime Lite allocation.
According to their official Medium blog, Huobi’s investment arm, Huobi Capital, invested in ThunderCore in a recent funding round (27th of Feb 2019), in which they raised $50 million. The total amount of Huobi Capital’s investment in ThunderCore will remain undisclosed. ThunderCore is the team behind Thunder Token.
What is Thunder Token?
With the announcement of the Thunder Token (TT) listing on Huobi Prime Lite, a much-anticipated blockchain project will see its first official global listing premiere.
Thunder Token was founded in 2017, by Chris Wang and Elaine Shi and its based in Silicon Valley. The Thunder team are comprised of some of the brightest minds in computer science. Co-founder and Professor at Cornell University, Elaine Shi even wrote the first academically published paper on Bitcoin, back in 2011. Shi and her colleague Raphael Pass did some groundbreaking research on consensus protocols. This resulted in the creation of a new Consensus Protocol that solves the limitations of the traditional Nakamoto Consensus.
Thunder Token proposes a highly scalable blockchain, with almost instant confirmation (sub-second) and maximum security. All while being EVM-compatible so that dApps can easily be built on the platform or migrate from another platform. For building the blockchain they are using a new paradigm called the Thunderella protocol, created by Elaine Shi and Raphael Pass.
In the video below, ThunderCore’s founder and CEO Chris Wang talks about why they decided to collaborate with Huobi Global.
All the tokens that were launched on an exchange in either an IEO or a DPO are still trading well above their initial listing price, while these new types of token sales have already started in January of this year. My guess is that this will go on and continue for some time.
I very much look forward to the Thunder Token sale on Huobi Prime Lite, and this is a sale I will definitely participate in, especially now that it is possible to buy some more Huobi Tokens at a discounted rate.
Disclaimer: I would like to state that I am being incentivized by Huobi for writing this article. This article is not intended as investment advice. You should always do your own research. All the information provided in this article is based on my own personal opinion. During these challenging market conditions, I strongly urge everyone to thoroughly research projects to potentially invest in. If you do decide you want to invest, only invest money you can afford to lose.
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