Huobi announce rules for next IEO including HT holding requirement

28 Mar, 2019
Exchange
Huobi announce rules for next IEO including HT holding requirement

Huobi have announced that they will be implementing similar rules to Binance, following the massively successful first Initial Exchange Offering (IEO)

Huobi have followed suit and launched their IEO platform, and just like Binance, the exchange saw massive success with their first IEO called TOP Network. TOP sold out 1.5 billion TOP tokens to 3,764 participants out of 130,000 users who tried to buy. 

Read more: Kucoin announces first project to be launched on Spotlight

TOP token is currently trading between 3-6x its IEO price. The IEO hype appears to be very real at this point. Huobi have since decided that their next IEO, which has been announced to happen on April 16 2019, will also implement a Huobi Token (HT) holding requirement. Something Binance recently implemented in an attempt to offer a better opportunity for people to get tokens during IEOs. 

Huobi will require users to hold a daily average of 500 HT over a 30 day period before the next IEO in order to participate. The holding dates are from March 17 to April 15. Huobi mentions that users can still increase their HT holdings thereafter to qualify. 

Read more: Lets try that again: Bittrex announce first IEO after failed attempt

Huobi follows Binance in taking ICOs locally and running the process internally. KuCoin and Bittrex are following with their first IEOs set to commence soon. 

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