HuobiChain will be a new decentralized financial platform to offer a protocol for payments, crowdfunding and tokenization. The leader championship is live, with bounties for voting.

Huobi.Pro has been one of the top exchanges by trade volumes since its global expansion back in 2017 and they have also been between the front-runners when it came to R&D on crypto related financial platforms.

Now a new financial platform will be developed under the Huobi Chain name and will offer various bounties for participating in the building process.

Overview

Back in June Huobi Group announced the launch of the Huobi Chain Project (HCP) together with the Huobi Chain Superhero Championship Program (HCSCP) in an official blog post. The aim of the project was to supply individual investors and organizations with a financial protocol for payments, crowdfunding and tokenization.

A public chain and a private chain will form the structure of the project, but, while both will be fully decentralized peer to peer network, only the public chain will be accessible by anyone who wished to participate.

To put it simply, the Huobi Chain will be developed by the people for the people. This means that teams can freely join the development process at any given development stage and contribute with their own code to compete with the others for the prize pool. Each milestone will have a different prize and altogether 30 million HT will be allocated for the development process that should last 18 months according to the official website.

The development plan for the Huobi Chain has been designed by the team behind Huobi and the board members with the intention to build up a DAO-like self-regulating financial platform. The first stage, that just recently went live, includes the recruitment process that will determine the leaders and the board members who will lead the developers through the venture.

There are 2 reasons on the top of our heads that should incentivize current and future Huobi.Pro users to vote. Firstly voting rounds will be sponsored by blockchain projects, which also plan to airdrop their relevant tokens to the voters. Each sponsor is providing 50,000 USDT worth of tokens to the cause. Secondly, voters are eligible to vote when they are in the ownership of a minimum of 100 HTs. Those who believe in Huobi and are holding or hoarding HTs can change the future outcome of the platform with some research and proper decision making resulting in a higher value for their HTs in the future.

Leader Championship

The current number 1 spot on the leader board is Liu Wei with 51753301 votes and 2046 users supporting him. Mr Liu Wei is currently known as the vice president and chairman of 360 Finance, a subsidiary of Qihoo360. The company that is also known as 360 for short is currently China's biggest internet security company with products like the 360 Safeguard and 360 Mobile Safe. The parent company accounts for 1 billion users worldwide and has been responsible for disclosing a major vulnerability on EOS before the official launch.

As of 2017, 360 Finance has launched several business ventures covering areas such as financial management, loans, insurance, crowdfunding while serving hundreds of millions of customers. This shows that Liu Wei has experience in most of the fields that Huobi Chain aims to cover with its financial platform features, while also owning the ability to micromanage a multinational company.

A possible runner-up, who could easily dethrone the first few spots during the rest of the race, is the Founder of FBG, Vincent Zhou. The Beijing based venture fund has been investing in a wide range of successful crypto projects previously, including Eximchain, MakerDAO, Zilliqa, Ripio, Libra Credit and a lot more. Mr Vincent likely has a good eye when it comes to blockchain projects as FBG Capital is likely studying tens if not hundreds of startups before deciding on investments.

The ability to monitor and to follow various DLT startups could come in handy especially with a platform like Huobi Chain, that aims to fulfill several roles at once. A connection to various projects and their developers is a useful asset especially when the project revolves around a competition for independent developers to build the best code.

Roadmap

Next events according to the roadmap will include the construction phase where the different network layers will get worked on (consensus, network, exchange and application layer); the testing phase with security and dApp testing and finally the Mainnet release as last.

We are thrilled to see how the developments progress with the Huobi Chain Project. Either way, there seems to be a real incentive for people who use Huobi.Pro, but never owned HT previously to offer a hand and help out the exchange with the decision making.

In order to vote, visit here: Huobi Chain Voting

To register to Huobi in order to access HT markets: Huobi.Pro

Images taken from Huobi Group. Follow us on Walletinvestor.com/Magazine.