Huobi Prime's first token sale raises $3.4 million for TOP Network

26 Mar, 2019 | Updated: 26 Mar, 2019
by David Robb
Huobi Prime's first token sale raises $3.4 million for TOP Network

Huobi Prime successfully completed its first-ever token sale earlier today. The initial offering of $3.4 million worth of TOP crypto tokens sold out, with its first round completed in just seven seconds.

Huobi Prime is the exchange's own version of Binance Launchpad, offering a platform to enable other crypto projects to sell tokens. Announced at the start of March, this isn't the first time a major trading platform has followed Binance's lead, with OKEx soon to launch its own version of Binance Chain, OKChain, which will support its own DEX.

Read more: Huobi set to release Huobi Prime - its take on a token launch platformOKEx follows Binance in developing its own blockchain - OKChain

Entry into this TOP sale required users to hold 500 Huobi Tokens (HT) on the exchange for at least 30 days prior to launch, and users' HT tokens were then traded for TOP. The first round of 300 million TOP tokens sold out in an incredibly short space of time, and a total of 1.5 billion were sold, which amounts to 75 percent of the total supply. The TOP Network offers a messaging service which is billed as "the world's first decentralized open communication network".

Read more: 5 countries that are going big on cryptocurrency adoption

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