Huobi Global will officially launch the 6th Huobi Prime project, Whole Network (NODE), at 20:00 (GMT+8) on September 11, 2019. Please note changes to the listing rules below:
Changes to Listing Rules:
1. Trading Pairs: Users can buy/sell directly on Huobi Global HT zone.
2. Participation Eligibility Criteria: In this phase, there will be two(2) ways of obtaining Prime participation eligibility:
i) Minimum Daily Holding of 1,000HT starting from the 5th Prime Listing to the upcoming Prime round (i.e. HT Holding Period：00:00:00, August 15, 2019 - 23:59, September 10, 2019 GMT+8)
ii) Purchase Whole Network’s Acute Angle phone to receive 3,000HT equivalent participation eligibility (Click for Acute Angle's details).
a. Phone Sale Period: 10:00 September 10 to 18:00, September 11, 2019 (GMT+8)
b. Pre-requisite for Phone Purchase: Purchase must be a registered Huobi Global user
c. Phone Purchase Method and Quantity: Purchase must be made via the banner link on the Huobi Global website.
3. Listing Criteria: Initial Sales of Phone is limited to 10,000 units. The project will be eligible for Prime listing if 5000 units for initial sales are sold-out. Otherwise, it will be deemed that the project has not been fully recognized by the HT community and the Prime listing will be cancelled. The HT spent by the user to purchase the phone will be returned to the account.
4. Trading Quota & Rules
HT Holder Trading Quota:
A HT holder’s trading quota (cap) will depend on their minimum HT held during the applicable HT holding period, subject to a minimum HT holding floor of 1,000HT and cap of 5,000HT. For example: A user with a minimum HT holding of 6,500HT during the holding period will receive a maximum of 5000 HT equivalent in trading quota across both price limit rounds.
|Minimum HT Holding（HT）||Tickets||Trading Quota（HT）|
|1000≤x<2000||1||equivalent to the minimum HT held during the applicable HT holding period|
The 1st “Price Limit” round will adopt a jackpot mechanism. In the first round, eligible users will receive a quantity of tickets corresponding to their HT Holding during the HT Holding period as specified above. Users with more than 5000HT during the HT Holding period will at most receive 5 tickets. The system will randomly select 800 tickets based on the 8-character ticket number, with equal probability of selection as follows:
Every ticket should make 1000 HT order. Orders will be partly matched up to the trading cap of all tickets matched per user.
All HT assets will be returned for unmatched orders.
The 2nd “Price Limit” round will see all orders matched by the system.
Users can place orders up to their remaining trading quota (cap) in HT as stated above.
The 2nd round trading quota = all trading quota – cost in the 1st round;
Once the trading window has ended, the system will match all price limit orders as follows:
(i) All orders at the highest buy price will be filled partially;
(ii) Amount filled is positively correlated to the size of the order;
(iii) Order amount expected to be filled:
Example: If a HT holder’s trading quota is 4,800HT, and 1 of 4 tickets allocated in the 1st Price Limit Round hits the jackpot, he will correspondingly have 50HT matched, and his remaining trading quota is 4,750HT.
Trading Quota of Phone Buyers:
HBG users who receive Prime 6 quota (cap) via the phone purchase method shall receive the equivalent quota of 1,000HT when they submit an order of 100HT:
a) In Price Limit Round 1, phone buyers who purchase the phone will receive 3,000HT Prime trading quota. Users who hold at minimum 300HT in their account and places a HT order >=300, they will receive 3 tickets.
b) In Price Limit Round 2, users can place orders up to their remaining order quota (cap) in HT (computed in multiple of 10) as stated above. The 2nd round trading quota = all trading quota – used quota in the 1st round.
|Order Amount (HT）||Tickets||Trading Quota（HT）|
|100≤x<200||1||Order Amount * 10|
Example: The largest order a phone buyer can place is 300HT If 1 of 3 tickets allocated in the 1st Price Limit Round hits the jackpot, he will correspondingly have 50HT matched, and his remaining trading quota is 300*10-50 = 2,950HT. He can therefore place 295HT order and receive corresponding proportion allocation of a user with 2,950HT trading quota.
5. Trading Rules Schedule and Allocation:
Price Limit Rounds: 20:00:00 September 11, 2019 to 20:29:59 September 11, 2019 (GMT+8), divided into two rounds, each round will last 10 minutes, with a 10 minute clearance period in between.
• First Price Limit Round：20:00:00—20:09:59; 20% Prime Allocation;
• Second Price Limit Round：20:20:00—20:29:59; 80% Prime Allocation.
6. HT Burn
If the Whole Network is successfully launched, 10HT will be burnt for each mobile phone sold.
Token Name: Whole Network（NODE）
Total Token Supply: 10,000,000,000 NODE
Prime Trading Allocation in Total: 750,000,000 NODE
Prime Trading Allocation in each “Price Limit” Round:
Respective “Price Limit” for each Round: 150,000,000 NODE, 600,000,000 NODE;
Respective “Price Limit” for each Round: $0.0012, $0.0022 (HT exchange ratio will be announced on launch date).
Project Introduction: Click here for more
1. If a HT Holder who has >= 3,000HT Prime Eligibility and subsequently purchases the Phone, his Prime Eligibility will remain unchanged (>=3,000HT), but he has the option to place a smaller order as per Phone Buyers (requires less HT).
For example: If a HT Holder who has 5,000HT Prime Eligibility subsequently purchases the Phone, he gets to place an order of only 500HT under the Phone Buyer channel (HT Holders with 5,000HT without phone purchase would have had to submit order of up to 5,000HT for equivalent allocation).
2. If a HT Holder who does not hold up to 3,000HT Prime Eligibility, and subsequently purchases the Phone, he can trade on Prime under the Phone Buyer User channel available on Web, Client and APP (latest version).
3. All partially filled orders during second round will be cleared automatically.
4. As a digital asset service provider, Huobi Global makes no warranty, representation or guarantee regarding all matters (e.g. logo, price, product features) regarding the Acute Angle phone provisioned by Whole Network and thus shall have no liability for the accuracy of the information and cannot be held liable for any third-party claims or losses of any damages. Huobi Global reminds users to exercise caution before purchase of any product or services. Product enquiries relating to the Acute Angle phone should be directed to the Whole Network Official website.
5. 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 Second Price Limit Round.
6. Trading 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 decisions. Huobi does not take responsibility for any resulting direct or indirect losses.
7. If found cheating, Huobi reserves the right to cancel relevant parties’ eligibility.
8. Huobi Prime is only open to users from countries where digital asset trading is not forbidden.
Huobi reserves the right for final interpretation.
August 29, 2019