As Lambda (LAMB) has met the listing criteria (click to check out the criteria for listing transfer) for listing on Huobi Main, Huobi Global will migrate LAMB from Huobi NEXT to Huobi MAIN board on July 30, 2019.
To celebrate the successful transition of LAMB as a Huobi MAIN board member, Lambda Project will offer a total of 3,160,000 LAMB for sale during this promotion. LAMB tokens will be sold to eligible HT holders below market price at 14:00:00 on July 30 (GMT+8). The trading pair is “LAMB/HT.”
The actual limit price will be announced separately on the morning of July 30th.
Schedule of Event
1) Trading Suspension of LAMB (USDT/BTC/ETH) trading pairs on Huobi NEXT: 11:00:00, July 30 2019 (GMT+8);
2) Order Placement: 14:00:00-14:05:00, July 30 2019 (GMT+8);
3) Clearance and Settlement: 14:05:00-14:10:00, July 30 2019 (GMT+8) ;
4) Trading Resumption of LAMB (USDT/BTC/ETH/HT) trading pairs on Huobi Main : 15:00:00, July 30 2019 (GMT+8);
Rules of the Event
1. Trading method: holders may place limit orders on HT trading page of Huobi Global;
2. Eligibility Criteria: Minimum average daily HT holding of 5,000HT during 7-day HT holding period ( i.e. 00:00 July 23 to 23:59 July 29 2019 GMT+8)
3. Trading Quota (limit): eligible holders are allowed to place orders of 5,000 HT.
4. Trading rules:
Order Placement: Eligible participants may trade at a fixed price set by the system. Order stage lasts for 5 minutes (14:00:00-14:05:00).
Clearing and Settlement: Settlement of trades will take place 5 minutes (14:05:00-14:10:00) after the order placement. The system will match all HT orders, and orders will be partially filled proportionately across all orders. Remaining HT from unfilled orders will be returned to holders.
Thirty (30) lucky users from eligible participant pool will be selected to evenly share 20% of the total LAMB tokens allocated for the event. The remaining 80% of tokens will be evenly split by the remaining eligible participants.
1. 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 2.5 times higher than the closing price before trading suspension;
2. HT locked on Huobi Pool are included in the HT Holding computation for this event, but cannot be used for order placement. Withdrawal of HT locked under flexible extraction will arrive in the exchange balance after 2hrs, whilst withdrawals for other lock option periods will take approximately 24hrs.
3. Placing orders with API is not supported in the event.
4. No transaction fee will be charged during the event.
5. In the case of cheating or other violations, Huobi Global has the right to disqualify the participant from the event.
Huobi reserves the right of final interpretation for the event.
July 29, 2019