What is Huobi HADAX? Why do you want to use and vote on Huobi HADAX?

cryptomined (53)in #bitcoin • 7 years ago (edited)

What is Huobi HADAX?

HADAX (Huobi Autonomous Digital Asset Exchange) is an autonomous Bitcoin and Cryptocurrency exchange. The autonomous nature of HADAX is in its ability to enable users and development teams to vote on future listings of digital assets on Huobi HADAX Exchange. This means that users and developers have the freedom to decide what is listed and traded on HADAX. HADAX offers the same quality service, security assurance and user protection as found on Huobi.pro. Huobi.pro and HADAX use the same usernames and passwords. If you already have an account on Huobi.pro, you already have an account on HADAX.

How can a project get listed on HADAX for voting?

Getting a crypto related projext listed on HADAX is a four step process:

The project needs to inidicate interest in being listed on the HADAX to Huobi. To indicate interested in being listed on HADAX a project is required to fill out the following form: https://docs.google.com/forms/d/1-BF4B07tMjFMK4rQTg-gXGsfbsARY__XpEM0X9SnF-0/edit
More information and detailed application instructions can be found here:
https://support.huobipro.com/hc/en-us/articles/360000757471-Instruction-on-Applying-To-HADAX-Token-List.
Huobi will then audit the company and project. This audit is not a financial audit, it is an audit of their authenticity and legitamacy including the ability of a project to meet regulation requirements, disclose its whitepaper, and possilby other specified requirements.
Projects that pass Huobi’s audit are then reviewed by established companies called “Super Voting Nodes”. These “Super Voting Nodes” are professional investment organizations with top notch reputations in the cryptocurrency field and help HADAX pick the best projects. Projects that get a rating of 100% from the “Super Voting Nodes” are automatically added to HADAX and Huobi.pro.
Projects are listed on HADAX for user voting after passing the “Super Voting Nodes” reviews.

How does voting on HADAX work?

Voting on HADAX is based on a scoring system that weighs votes based on Huobi Pro user votes and project team deposits, which receive a 70% and 30% weight respectively.

Project teams need to pay a HT token deposit for their token to be eligable for user voting. This deposit is held incase the team does not fulfill its requirements. Voting users are compensated with the deposited HT tokens if: the project team abandons the project; asks for the project to be delisted; there is not enough liquidity; if there is a chain split; or if the team breaks any laws or regulations. If a token does not obtain a winning vote to be added to HADAX, the deposit is returned, or reused for the following month. Incentives can be offered to voting users by the project team to help the team gain enough votes. For example, a team can offer a certain percentage of HT tokens back to the user for each vote the user contributes.

User voting is done through the use of Houbi Tokens (HT) with each vote being valued at 0.1 HT. This enables anyone who is a verified Huobi Pro user to be able to vote with votes costing a minimal amount (currently approximately 0.22 USD per vote as of the posting of this article). Voters are allowed to vote up to 100,000 times during each voting round. After each voting round users are guaranteed a refund of their HT tokens that were used to vote. If a project was successful the tokens will be automatically refunded. If a project did not have a winning outcome, users can choose to either keep their token votes in the project for the next round or they can get a refund.

The top 2 projects from each round get listed on HADAX. The tokens used in voting for winning projects are kept by Huobi, and the tokens from losing projects are refunded to users and project teams. The tokens kept by Huobi are considered income of Huobi Pro and are included in the quarterly buyback of HT tokens.

At the end of voting the combined deposit and user votes will be scored together with votes from users multiplied by 70% and deposits from teams multiplied by 30%. The two projects with the highest score, which should be over 600,000, will get added to HADAX. The winning projects are required to have a minimum of 1,000 user voters.

Why Should I Vote for Tokens on HADAX?

HADAX is the doorway to Huobi.pro. Huobi is one of the largest and most prestigous cryptocurrency exchanges in the world. As of the posting of this article Huobi has the 4th largest BTC/USDT trading volume out of all exchanges (According to coinmarketcap.com on April 25th 2018). If you own a token and aspire for it to be listed on an exchange with high volume and liquidity, then you want it to be on Huobi.pro or HADAX. Voting for your favotire tokens will help the future value and utility of your token.

Some of the recent additions to HADAX include: UnlimitedIP (UIP), U Network (UUU), Acute Angle Cloud (AAC), DATx (DATX), Block 18 (18T), and ShineChain (SHE). All tokens are available to trade in both BTC and ETH markets.

Some of the tokens currently undergoing voting include: IndaHash (IDH), Matrix (MAN), Loopring (LRC), Scry (DDD), Fortuna (FOTA), Gifto (GTO), and Substratum (SUB). Users who would like other tokens added to HADAX voting may contact the teams of their chosen tokens and ask them to apply for HADAX voting.

HADAX is the place where you will find a lot of tokens before they are listed on other exchanges. HADAX is where you can find the next potential gem of your portfolio before others find it, and before they are listed on sites such as coinmarketcap.com.

A more detailed list of voting rules and listing details can be found here:
https://huobiglobal.zendesk.com/hc/en-us/articles/360000760471-Voting-Rules

If you are not already a user of Huobi.pro and/or HADAX please use my invite link to sign up: https://bit.ly/2qVd5if