Huobi Global will launch our second Prime Trading on April 16, 2019(GMT+8). Based on rules of our first Prime Trading, we broadly listened to user feedbacks and suggestions. Hence we are improving the rules as follows:
1、 Trading Mode: Users can participate through market orders in HT Market on Huobi Global;
2、 Eligibility: Due to overwhelming demand which leads to low successful rates, we will introduce HT holding requirement, users with average daily holdings of 500 HT over 30 days period before launch (March 17, 00:00:00 to April 15, 23:59:59) are qualified to participate. If your average daily holding of HT doesn’t meet the requirement as of now, you can increase your HT holdings in order to qualify. For example, if you don’t hold 500 HT or more for 30 days but hold at least 1,500 HT ten days before the launch date (Apr 6, 00:00:00 to Apr 15, 23:59:59), you will still be qualified. HT holding is determined through random snapshot daily;
3、 Personal Cap: There will be a personal cap on every participant, and the cap is proportional to average daily HT holdings over 30 days period before launch date, please see the following reference table for more info. (Actual cap in HT will be announced on the launch date);
|Average Daily Holding（HT）||Personal Cap（USDT）|
4、 Tiered Price Limit Rounds: There are three tiered price limit rounds, the first two rounds will still be completed on a first come first serve basis through market orders. The third round however, will be adjusted to system matching. Users with unused personal cap are able to place limit buy orders and the system will match all existing buys and sells after trading time ends;
1) All orders at the highest buy price will be filled partially;
2) Amount filled is positively correlated to the size of the order;
3) Allocation for third round is 50% of total Prime Allocation;
4) Order amount expected to be filled:
5、 Schedule and Allocation:
Price Limit Rounds: April 16 2019 20:00:00 to April 16 2019 20:29:29, divided into three rounds, each round will last 10 minutes, with first 5 minutes for trading and latter 5 minutes for clearance;
1) First Price Limit Round: 20:00:00—20:09:59, 20% Prime Allocation;
2) Second Price Limit Round: 20:10:00—20:19:59, 30% Prime Allocation;
3) Third Price Limit Round: 20:20:00—20:29:59, 50% Prime Allocation;
6、Trading Protection: In order to avoid extreme price volatility due to exuberance, we will restrict the use of market orders within 5 mins after official trading opens, and users are unable to place orders at prices 5 times higher than the highest tradable price during our Third Price Limit Round.
1、 API orders are forbidden during“Price Limit” rounds;
2、 Unfilled orders will be cleared after each price limit round;
3、 Order amount of orders filled for each user during Third Price Limit Round will be slightly different according to historical trading amount, historical HT holdings and account activity;
4、 Investing in digital assets comes with high risks due to huge price fluctuations. Before investing, please have full understanding of all the risks in investing in digital assets and be prudent of your own investment decisions. all information in this announcement or any other relevant information shown on Huobi Global does not constitute investment advice, Huobi does not take responsibility for any resulting direct or indirect losses;
5、 If found cheating, Huobi reserves the right to cancel relevant party’s eligibility to participate in Prime;
6、 Huobi Prime is only open to users from countries where digital asset trading is not forbidden.
Huobi reserves the right of final interpretation.
April 3, 2019
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