Huobi Exchange officially announced the Initial Exchange Offering (IEO) platform called Huobi Prime which will start tomorrow on March 26, 2019.
Binance was the first exchange that implements Initial Exchange Offering (IEO) system and now, Huobi is in the game too.
First IEO – TOP Network
The first project is TOP Network. First open communication network powered by blockchain 4.0. TOP Network aims to build a business-friendly blockchain platform that handles real-word business of any type, size or volume on the blockchain.
TOP network provides cloud communication services that are less costly and fast.
In addition, TOP Network is backed by some solid partners.
Even before crowd sale, the team has already gathered $8 million USD from institutional investors such as Fenbushi Capital, Genesis and DHVC etc.
There is also a product so the project is not on paper. The team has been running private testnets, and the results have been promising. Right now, they achieved 2000 TPS in a single shard with BitVPN.
When the Sale Will Happen?
The 7.5% current circulation of TOP token will be available for trading only on Huobi Prime at 9PM, March 26, 2019, Singapore Time (UTC+8).
TOP Network Prices
There will be three rounds and each will last 30 minutes.
Price Limit Round 1: It will take place from 21:00 to 21:29:59 (GMT +8). The highest tradable price for 1 TOP will be $0.00177.
Price Limit Round 2: It will take place from 21:30 to 21:59:59 (GMT+8). The highest tradable price for 1 TOP will be $0.00213.
Price Limit Round 3: It will take place from 22:00:00 to 22:29:59 (GMT +8). The highest tradable price for 1 TOP will be $0.00255.
The maximum cap for an account is $1000 USD.
How Can I Participate?
Step One: Before March 26, Threshold to participate in Prime is set to be: daily average holding of 500 HT during 30 days before Prime Trading. This is for next projects:
TOP NETWORK WILL NOT REQUIRE USERS TO HELD 500 Huobi Token (HT) FOR 30 DAYS BEFORE THE SALE AS, IT IS THE FIRST IEO.
Step Two: Before the sale, open the HT market page, there will be a countdown.
Step Three: Click the Buy Button to buy and the system will match orders on a first come first serve basis.
There is an detailed official article about using Huobi Prime.
Also if you want to learn about the project selection criterias, you can find it in this article.