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Huobi Exchange Launches Automated Listing Platform for New Token Public Voting

Huobi Pro, the world’s leading digital asset exchange has officially launched the HADAX 2.0 version on Wednesday. The brand new HADAX 2.0 including Huobi Automated Listing Platform, Huobi Show Center for Blockchain Projects and HADAX Public Voting Platform. Huobi Global and HADAX2.0 will also be merged in the near future.

Lu Mai, the senior business director of Huobi Group denominated the product positioning of HADAX in its HADAX 2.0 product launch. Different to Huobi Global, HADAX is a community-driven exchange.

Hadax 2.0 consists of three main parts: a automated listing platform for the project teams, a show center contains project progress information, and a community-driven voting system.

Lu also introduced the HADAX 2.0 listing process, which includes submit the application, cross evaluation, 7-days project presentation, public voting, result schedule and release of voting rewards.

Zhu Jiawei, COO of Huobi Group listed the main changes in HADAX 2.0:

First of all, instead of let the project teams submit listing application on its own, endorsers retain the privilege of nominating project teams to HADAX. Afterwards, the listing projects can be chosen by Super Node. This change combines the endorser evaluation to the project development which may promotes the endorser to bring out valuable projects.

Secondly, HADAX 2.0 launches a show center for blockchain projects. All project teams must disclose the following information on this platform: project progress information, including weekly report, monthly report and financial reports; project introduction information, including videos, pictures and articles; project activity information, including live broadcast previews, offline activities, etc. This mechanism will push the project team to improve their projects.

Thirdly, for the voting mechanism, token is given to the project teams in batches, so that the time for the project team to get the fund is lengthened. This may avoid some projects only seek short-term development, and plan to make other use of the fund.

Finally, the buy-back of Huobi Token (HT) will now go to the Huobi Win-Win Fund. Huobi will take 20% of its revenue to buy back HTs on the secondary market. Huobi will bring a chance for HT holders to decide whether or not voting for those blockchain projects via HADAX 2.0.

In addition, regarding to the internal anti-corruption of the Huobi Group, Zhu indicated that accepting bribes from project teams is strictly prohibited in Huobi.

On August 20 at 14:00 (UTC+8), the participating projects and endorsers shall present their projects at Huobi Show Center and the first round public voting will be lanched at 14:00 on August 27.

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