Those that cast HT for FastTrack winners can exchange their votes for tokens at 50% off.
SINGAPORE, June 13, 2019 /PRNewswire/ -- The users have voted and Huobi Global has listened. In our inaugural launch of Huobi FastTrack, Atlas Protocol (ATP) garnered 15,248,017 HT worth of votes in Huobi Token (HT) at 73% off market price, beating out four competitors to be the first coin to earn listing on Huobi Global under the new program. The innovative coin launch platform gives users a direct say in what coins are listed on Huobi and when.
"We're thrilled to usher in a new era at Huobi – one even more responsive to user needs and desires," said Livio Weng, CEO of Huobi Global. "We'd just like to offer big congratulations to Atlas Protocol for being the first project to earn listing through FastTrack and all our project partners to marking this occasion with us."
Due to upgrades on Atlas Protocol's main net, full listing on Huobi Global will be temporarily delayed but rewards to users are scheduled to be delivered shortly.
Per the rules of Huobi FastTrack, runners up Skrumble Network (SKM), Fusion (FSN), New Kind Network (NKN), and Origo (OGO) will each be up for election again during the next FastTrack election this Thursday, June 20. As with the inaugural launch, users who cast their HT for the winner will have at least part of their vote exchanged for the winning token at least 50% off market rates.
Key Facts On FastTrack Launch:
Winner: Atlas Protocol (ATP) is building the first ever blockchain-based interactive advertising and marketing platform. Founded by former members of Google, Atlas Protocol has raised more than USD $3 million from backers like SoftBank, China Venture Capital, Baidu Ventures, Fenbushi Digital, and DHVC. For more information visit: https://atlasp.io/
Number of HT voters: 25,316,075
HT cast for ATP: 15,248,017
HT cast for SKM: 5,246,701
HT cast for FSN: 2,502,475
HT cast for NKN: 1,582,750
HT cast for OGO: 736,132
Total HT burned in this round: 15,248,017 (out of 25,316,075)
How Does Huobi FastTrack Work?
Each month Huobi Global will announce five projects for Huobi FastTrack listing. Using HT, users can cast votes for the projects in weekly elections. The project that gets the highest number of votes each week will generally be listed on Huobi Global the same day voting takes place. Free trading of the winning project token will open upon completion of each week's voting session, with the simultaneous launch of USDT, BTC and HT trading pairs.
In addition, all HT voters who cast votes for a winning project in a given week will have at least some of those votes automatically exchanged for the winning tokens at rates around 50% off market value. Of this group, 10 lucky winners will be able to exchange all their HT votes for the winning tokens. The rest will be able to buy discounted tokens based on the remaining token supply in proportion to their HT votes.
Any project that fails to win majority vote in a given month will be rolled over to the following month. Any project that fails to win a majority of votes over a two-month period will be dropped from Huobi FastTrack.
In order to qualify for a given launch, Huobi users will need to hold at least 1,000 HT over the period from the previous launch to the current one, which will generally be one week.
All HT used in the voting phase that is not subsequently used in trading will be returned to users after the Huobi FastTrack launch ends. The HT used by winning voters for token purchases will be burned.
Zendesk announcement: https://huobiglobal.zendesk.com/hc/en-us/articles/360000298661
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SOURCE Huobi Global