In this article, I am going to write about the new Initial Exchange Offering (IEO) of Huobi Prime – Prime Lite, ThunderCore (TT).
What is Huobi Prime – Prime Lite?
Huobi Exchange officially announced the Initial Exchange Offering (IEO) platform called Huobi Prime which will start tomorrow on March 26, 2019.
“Huobi Prime also offers users with trading opportunities at low cost through rigorous project review and filtration, 0 trading fees and a unique price limit mechanism.”
Huobi Prime Lite will list ThunderCore (TT) as its first project.
Total allocation reserved for Prime Lite will be around 500,000 USDT.
What is ThunderCore (TT)?
“ThunderCore is its own blockchain with its own native cryptocurrency. Moreover, it is EVM-compatible with throughput of 1,200+ TPS, sub-second confirmation times, and low gas costs—making it quick and easy for DApps to deploy and scale.”,
The key idea behind the project is to combine a centralized approach with a decentralized approach, and achieve the scalability and speed of centralized method, while maintaining the decentralized nature of the blockchain.
Following the Thunderella paradigm, the Thunder protocol combines any “standard” blockchain which is mentioned as the “slow chain” with an optimistic “fast-path”.
The fast path is runned by a committee of stake-holders and coordinated by a central authority called the Accelerator who is responsible for linearizing transactions and data.
To be an accelerator, you have to stake in the system that qualifies the entity to become a committee member.
The logic behind having two chains is simple. If an attack or unexpected problem happens in the fast chain, slow chain is ready to operate.
In addition, ThunderCore (TT) is relying on the Ethereum’s blockchain as the underlying “slow-chain” which makes it more secure.
Huobi Prime’s Previous IEOs
The IEO price of TOP Network was,
The First Round：1 TOP=0.000708 HT；
The Second Round：1 TOP=0.000852 HT；
The Third Round：1 TOP=0.001020 HT;
The HT price was 2.5 USD.
For Newton Project, the price was,
First Round: 1 NEW= 0.000725 HT;
Second Round: 1 NEW= 0.000870 HT;
Third Round: 1 NEW= 0.001043 HT;
The HT price was 2.3 USD.
ThuderCore Token Economics
Token Name: Thunder Token (TT)
Total Token Supply: 10,000,000,000 TT
Prime Lite Allocation: 33,333,333 TT (0.33% of Total Token Supply)
Price Limit: 1 TT =$0.015 (Price in HT will be announced on Prime Lite date)
Prime Lite Trading Session Start: May 9, 2019 (GMT+8)
Price Limit Round: May 9, 2019, 20:00:00 to May 9, 2019, 20:29:59
Individual Cap: 100HT worth of TT tokens as basic cap, with an additional cap that equals the number of TT tokens equivalent to users’ minimum HT holding amount over 7 days period before launch (5000 HT worth of TT tokens at maximum for additional cap);
For detailed article, check the link.