Singapore (February 10, 2018) – Leading global digital asset exchange, Huobi Pro, launches the world’s first autonomous token listing exchange, Huobi Autonomous Digital Asset Exchange (HADAX).
In the cryptocurrency industry, both centralized and decentralized exchanges have their problems. Centralized exchanges do not have enough variety of tokens to trade. Decentralized exchanges cannot solve the problem of low liquidity and slow trading speed. With the new kind of autonomous exchange like HADAX, the lack of token variety, and low liquidity is solved.
With the amount of digital assets increasing daily, Huobi Pro, has developed a new operation system – autonomous token listings:
1.Audit system is changed to registration system. HADAX only confirms the authenticity and legitimacy of projects but do not make any evaluation of their investment value, so that users will not miss the chance to invest in other potential tokens in the world.
2.Users own the rights to vote for token listing. Users can vote for tokens using HTs. Tokens with top votes or numbers will have the chance to be listed on HADAX.
3. User admittance standards are set up. Since tokens listed on HADAX are in the early stage and have higher risks, user admittance standards are established. HADAX will only be opened to professional users with certain experience, to have asset value more than or equal to 1 BTC, or the earliest trade has to be 30-days before.
4.HADAX shares all the user data with Huobi Pro. All the income of HADAX will be counted as the income of Huobi Pro. Each quarter, Huobi Pro uses 20% of its total income during that period to buyback HTs on the open market. These bought-back HTs will be used to protect users interest and compensate for their losses in cases of emergency.
5.Automatic listing syncing on either platforms HADAX and Huobi Pro. If tokens listed on HADAX meet the listing standards of Huobi Pro, they will also be automatically listed in the “New Zone” of Huobi Pro. If tokens listed on Huobi Pro that no longer meet the listing standards of Huobi Pro but are qualified to be listed on HADAX, they will be moved to HADAX.
Instructions to applying for Token Listing on HADAX:
To protect the interest of investors, HADAX will evaluate the authenticity and legitimacy of assets. Only those tokens that meet the standards for voting can enter the vote. All the tokens need to meet the following requirements, including but not limited to:
- Meet the regulation requirements without compliance risk.
- · Whitepaper and status report must be disclosed on time.
- · Other requirements specified.
For more information, go to: https://support.huobipro.com/hc/en-us/articles/360000757471-Instruction-on-Applying-To-HADAX-Token-List
Each user needs to pay 0.1 HT for each vote. Users can cast more than 1 vote each time and can cast more than 1 time. The HTs that are paid will not be refunded. The voting of each phase ends at the deadline and top tokens with the most votes and members will have a chance to be listed on HADAX.
For more information on the voting rules, go to: https://support.huobipro.com/hc/en-us/articles/360000735372
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