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Huobi Prime’s Second EO Launch – Two Billion NEW Tokens Sold in Six Seconds

April 17, 2019

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Huobi Prime launches NEW!

Global cryptocurrency exchange leader and behemoth Huobi Prime, in its second Initial Exchange Offering (IEO), launched pioneering platform Project Newton selling out the first two rounds in six seconds. Some 17,863 users bought 2 billion NEW tokens (worth some USD$4,630,920) during the launch. The first two rounds of price limited trading were on a first-come, first served basis. But in a special third round, all 16,130 users got at least some of the tokens they desired.

“We’re deeply honoured that so many users see the same value in Prime and coins like NEW as we do,” said Ross Zhang, Head of Marketing for Huobi Group. “We’re also really thrilled to see how many users were able to gain access to the NEW they desired in our special community round.”

In addition to the launch of NEW, today’s launch brought with it a number of key changes for Huobi Prime. Driven by frustrations some users felt during our inaugural launch of TOP due to overwhelming demand and limited supply, for example, Huobi reserved a full 50% of its supply of NEW tokens for the special community round.

Custom-designed to spread a greater number of tokens across a greater number of users via adjusted system matching, the community round helped ensure that all qualified participants got at least some of the tokens they desired. In addition, this time around Huobi also put in place a requirement that users have an average daily holding of at least 500 Huobi Token (HT) for the 30 days leading up to NEW’s launch (though shorter amounts were possible if users held larger amounts of HT) and shortened each trading round to ten minutes each.

“We’ll be carefully evaluating the impact of the community round and our other changes over the coming days,” Zhang said. “We plan to make Huobi Prime a source of ongoing innovation and improvement and, as we’ve said throughout this process, our goal remains to make it the premier place to access premium coins for the broader crypto community.”

NEW has now been fully listed – and is freely tradable – on Huobi Global in the form of NEW/HT. NEW/BTC, NEW/USDT will be added soon.

Highlights Of NEW Launch:

Total numbers of people who bought NEW: 17,863
Percentage Price Increase For NEW (From First Round To 21:00 (GMT + 8): +500%
Ceiling Price For NEW In Each Round:- First Round: 1 NEW= 0.000725 HT – Second Round: 1 NEW= 0.000870 HT – Third Round: 1 NEW= 0.001043 HT
NEW Sold (Overall Total): all 2,000,000,000 NEW allocated for Prime trading (2.0 % of Total Token Supply)
NEW Sold (By Round): 1st Round: 400,000,000 NEW 2nd Round: 600,000,000 NEW 3rd Round: 1,000,000,000 NEW

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem – Honorary Ph.D. and is Chair Professor of Blockchain at China’s first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford’s Saïd Business School for Business Automation 4.0 programme. Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission’s SME Instrument programme as a startup assessor and as a startup judge for the UK government’s Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, ‘The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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