HT (Huobi Token) is the core of building the Huobi ecology and we have been implementing all HT-based use cases orderly since the listing of HT. As participants of Huobi ecology, HT holders will receive more valuable rewards. As one of the HT-based use case, HADAX Voting has obtained strong support from users, projects and partners. Meanwhile, the winning projects in the HADAX voting have rewarded HT holders with abundant token airdrops. Now, we have decided to further promote the rights of HT holders and give them the right to participate in community decision-making which is free of charge. In the 3rd phase of HADAX Voting, users who hold HT can cast free votes. The HT paid during the voting is just a witness, which can be refunded at any time after the voting. We have formulated the following voting rules for the 3rd Phase:
1.The 3rd phase of voting starts at 13:00, April 27th, 2018 (GMT+8).
2.Voting of this round will last for 7 days and conclude at 13:00, May 4th, 2018 (GMT+8).
II. Users can cast free votes
1. Users pay for the votes first and then get refunds under no conditions. 1 vote costs 0.1 HT. After the voting ends, the wining projects will hold the refund of HTs before they are listed.
2. After the voting, users can have their votes for the unsuccessful projects refunded automatically or keep them until the projects win and then have them refunded by HADAX.
3. Users can have their votes refunded automatically at least 72 hours before the voting ends, and then the HTs will be refunded automatically. In less than 72 hours before the voting ends, refunding is not available until the voting ends.
4. Teams can set up their own incentive rules and distribute the incentives among the voters in proportion to the number of votes after the token is listed. For example: Project A sets an incentive of 1 million Token, and the users cast 1 million votes during the voting, then 1 Token will be rewarded for each vote. Teams can adjust the incentives during the voting process. However, the incentives can only be increased and cannot be decreased.
5. The reward tokens from project teams will be sent to users in 4 installments. When the token is live on HADAX, voted users will get the first quarter of tokens. Later, they will get each quarter in each week that follows.
Notes: All the HT paid for the voting will be refunded. The locking rule during the last 72 hours of each phase is set to avoid impact on the final results by frequent voting and refunding. Users can have their paid HT refunded at any other time.
III. Super Voting Nodes
1. Super Voting Nodes are professional investment organizations with excellent reputation introduced by HADAX, whose main responsibility is to assist HADAX in professional voting and evaluation of the projects applying for listing.
2. We can help users identify quality projects through the expertise of Super Voting Nodes and reduce their investment risk.
3. Super nodes will vote under real names. Their votes represent their recommendations for HADAX listing.
4. Projects that receive 100% of votes from Super Nodes will be recommended to be listed on Huobi Pro. They must pass the audit process of Huobi Pro.
5. Based on the voting results from the Super Voting Nodes, we will select the list of projects to enter the public vote according to the number of votes from high to low.
6. Projects that are recommended by super nodes will have the priority of entering the first review list of HADAX.
IV. Security Deposit from the Project:
1. Projects are required to pay 500,000 HT as deposit. The deposit will be returned to teams regularly month by month in the next 12 months. This return starts from the second month when the voting is live.
2. What does security deposit do: if the team are eligible for the delisting conditions (e.g. team is dismissed; team asks for being delisted; there is not enough liquidity; the token is suddenly chain split; the team violates the law or regulations), this deposit will be paid to users as compensation.
3. The value of the deposit will be shown in the voting page.
V. Conditions of Entering the Final List
1. Winning projects are ones with highest number of votes.
2. 3 projects will be selected for listing. The project with the highest number of votes will have the priority of entering Huobi Pro’s review for listing.
VI. Results of the 2nd Phase
1. Major changes have been taken in the voting rules of the 3rd phase and the rules are not entirely applicable to the second phase. To protect users and projects, we will end the voting of 4th round of 2nd phase from today.
2.Users can have their votes for all the projects in the 2nd phase refunded or the votes will be kept in the 3rd phase.
3. The refund window of the voting in 4th round of 2nd phase will open from 13:00, April 25th to 13:00 , May 1st.
We would like to extend our appreciation for the support from users, projects and partners. We will strive to provide you with more quality service!
April 24th, 2018