Dear users,
Huobi Global will launch FastTrack Phase 8 on Sept. 4, 2019. In this phase, Huobi Global announces 2 FastTrack project candidates. Order of listing depends on voting results. Approximately 1 million USDT worth of project tokens (market price) will be sold (at a discount of around 50% off) to voting users, whilst, an equivalent of 500,000 USDT worth of HT will be burnt.
Project Candidates for FastTrack Phase 8 (in random order)
Project Name: The Force Protocol (FOR)
Project Introduction: Click here for more
Project Name: VidyCoin (VIDY)
Project Introduction: Click here for more
FastTrack Rules:
1) Voter Eligibility: The number of HT votes a qualified user can exercise in the upcoming voting session depends on the minimum HT holdings held during the holding period（holding period are as follows）, subject to a floor limit of 1,000HT and ceiling cap of 5,000HT. For example: A user with a minimum HT holding of 6,500HT during the holding period will receive 5,000HT equivalent voting rights.
2) Target Schedule:
Deposit/Withdrawal Services for both project candidates start: 10:00:00 Sept.4, 2019 (GMT+8)
Voting starts: 20:00:00 – 20:59:59 Sept.4, 2019 (GMT+8) (1 hour in total);
Token Exchange: 21:00:00 – 21:09:59 Sept.4, 2019 (GMT+8);
Winning Project’s Listing starts: 22:00:00 Sept.4, 2019 (GMT+8) where free trading of USDT, BTC and HT trading pairs will launch.
Runner-up project’s Listing starts: 10:00:00 Sept.6, 2019 (GMT+8) where free trading of USDT, BTC and HT trading pairs will launch.
Token Exchange:
100 lucky users per project candidate (total of 200 lucky users in Phase 8) will be selected
across the respective voting participants to share 20% of the tokens proportionately. (Rules
for luck draw can be seen from the announcement of FastTrack specific trading regulations).
The other users will be able to allocate remaining 80% tokens in proportion to their HT votes.
3) The HT holding period for this phase will start from FastTrack Phase 7, and run till the upcoming FastTrack voting date. (00:00:00 Aug.21, 2019-23:59:59 Sept. 3, 2019) (HT holding based on random daily snapshot).
Actual token exchange price ratio will be announced the morning of Sept. 4.
4) Huobi Token Burn
All HT received during the voting stage shall be burnt (i.e. destroyed) on the same day.
Further Notice:
1. In order to avoid extreme price volatility due to exuberance, we will restrict the use of market orders within 5 mins after official trading opens and users are unable to place orders at prices 5 times higher than the highest tradable price during Price Limit Round;
2. Huobi reserves the right to void a project’s vote count, or eliminate FastTrack voting eligibility if signs of cheating are discovered.
Risk Reminders:
1. Trading digital assets comes with high risks due to huge price fluctuations. Before trading, please have full understanding of all the risks in investing in digital assets and be prudent of your own decisions.
2. All information (including FastTrack related announcements) displayed on Huobi Global do not constitute investment advice. Huobi does not take responsibility for any resulting direct or indirect losses.
Huobi Global
September 3, 2019
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