The Chinese exchange Huobi has revealed coin offering service that enable regular traders to invest in promising coins before they are listed on the main exchange. Even before coins are released into the open market, ‘Huobi Prime,’ the new feature will allow selected users to buy coins at a discount.
According to the exchange featured coins will be selected based on the quality of the product and team, the financial backing. The new service will be launched on March 26th.
The Huobi press release reads,
Founder and CEO of the Huobi Group Leon Li said in an announcement that the “access to high potential digital assets at rates significantly below their market value will help the ecosystem grow and provide endorsement to projects the exchange sees as “up-and-coming.”
Huobi Prime will trade coins in exchange for the exchange’s native asset, Huobi Token (HT). It will also favor coins which Huobi has previously supported. The exchange said its listing decisions will “heavily” favor projects sponsored by Huobi Capital or the Global Ecosystem Fund. The first project to be featured will be TOP Network that provides low-cost messaging service on the blockchain.
Users who are eligible to join Prime need to have had 1,000 HT tokens 30 days prior to the launch date. Ross Zhang, Huobi’s head of marketing stated,
According to sources, Huobi spokesperson opinionated that the new Prime service was developed to benefit the users and the exchange. They pointed out that this “customer-centric mindset” encourages greater liquidity in the marketplace for high-potential digital assets. The new initiative would make Huobi’s offering competitive with Bittrex or Binance.