Huobi Prime III launches Reserve , Get Ready for RSR!
During a pre-Consensus event, in New York, on the 12th of May, Huobi Global announced the name of the third project to launch on Huobi Prime. Huobi Prime III is set to list Reserve Protocol’s Rights Token, called RSR. Interested Huobi users should hold a minimum of 1,000HT during the 7 days prior to the event, to be eligible to participate in Huobi Prime III. The event will take place on the 22nd of May (GMT +8).
Huobi Prime Lite
Prime Lite is a niche product which has derived from Huobi Prime. The Lite version has only one limit-buy round in oppose to the regular Huobi Prime launch which has two or three rounds (regular buying rounds and a limit-buy round). The first project to launch on Prime Lite was Thunder Token.
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. The token allocation for Thunder Token’s native token TT, on Prime Lite was set at $500,000.
Prime lite sold out and users that sold their TT directly after the maximum sell restriction finished could have made a 500% profit. TT is currently trading roughly 30% above the DPO price.
Reserve proposes a PayPal-like solution for people in countries with struggling economies, that are affected by hyperinflation. Residents in countries like Venezuela and Angola have been looking into cryptocurrencies to find a safe haven for their depreciating fiat currency.
While cryptocurrency has seen more usage in these countries, the volatility does not make it a sound hedge against traditional monetary means.
Reserve is creating a stabilization protocol that is comprised of an algorithmic stablecoin, the Reserve Dollar (RSV), which isn’t susceptible to price fluctuations. The RSV is pegged to the Dollar by 1:1. The project announced it will be bringing RSV to Venezuela as well as Angola, so that the population can start regaining control over their money again.
Reserve protocol is comprised of two tokens, the robust and economically sound stablecoin RSV and its fluctuating protocol token, called the Reserve Rights Token (RSR). The RSR token will be launched on Huobi Prime III.
According to Huobi Global CEO, Livio Weng, “Reserve truly has it all; an outstanding founding team that includes former members of Google, Tesla, OpenAI, IBM, MIRI, Impossible Foods, and The Jane Goodall Institute; backers like Peter Thiel, co-founder of PayPal, Sam Altman of YCombinator, Ran Neuner, and Mike Arrington of TechCrunch; and a truly innovative business model and mission,”.
Huobi Prime terms
Huobi Prime III has two trading rounds, on first come, first serve (20% token allocation) and the second (80% token allocation) has a system matching round in which all participant receive a relative portion of the tokens. The amount they will receive is dependent on the amount of HT they hold and the amount of buy orders there are placed.
Because of the expected RSR demand during Huobi Prime, the team decided to raise the amount of Huobi Tokens users need to hold in their account in order to be able to participate in the Direct Premium Offering (DPO). During the 7 days prior to the event, Huobi users that want to partake in Prime III need to hold at least 1,000HT in their account on Huobi Global.
3% of the total RSR token supply will be allocated to Huobi Prime. The price in the first round is set at $0.0006, while in the second round, tokens will cost $0.0011. People that bought in the private sale paid $0.002 per token. Private sale token holders can expect a portion of their allocation to be released each month.
A full overview of the Huobi Prime III terms and conditions can be found here.
As I see it, Huobi Prime projects have so far performed very well in terms of return-on-investment. In its first two launches, Huobi Prime sold out in seconds. Project Newton’s NEW tokens and Top Network TOP’s tokens have seen a price increase of 500% or more in the hours following Prime trading.
Reserve seems like a strong project, with a professional team that has the backing of some of the biggest industry professionals and VC’s from the world’s tech capital, Silicon Valley.
In my opinion, the risk-reward ratio on Huobi Prime is still very positive. The sale has become more exclusive to the bigger HT holders. I feel this DPO will again be very profitable for participants. This is just my personal opinion. I suggest you always do your own research.
Participate in Huobi Prime 3: http://bit.ly/2Yqx5aQ
Follow Huobi Global on Twitter: https://twitter.com/HuobiGlobal
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 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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