HADAX Evolves to Huobi Next — Join Now! 🚀
HADAX, the previous Huobi Exchange has now been integrated into Huobi Global(https://www.hbg.com/en-us/topic/invited/?invite_code=946q3) as Huobi Next.
During the past month, Huobi Global announced the integration of their HADAX exchange into their full digital asset exchange Huobi Global. Implemented initially on September 19th, the move is a long-term perspective aimed at allowing users to enjoy the Huobi Global brand benefits while still having access to a broader scope of projects.
According to a recent announcement Huobi emphasized:
‘The merged Huobi NEXT will be displayed in a unified interface with Huobi Global, where trading of all coins on the HADAX will be moved to Huobi Global. Huobi Global will share the brand potential, the trading users and other resources of Huobi Global with Huobi NEXT. The voting and Project Center will also be merged to the main website together with Huobi NEXT.’
Name is Different, But Similarities Remain
While the HADAX name has changed to Huobi Next, there are still many aspects of both exchanges which will not be changed.
The voting process for Huobi Next will remain identical and according to the Huobi website will be as follows:
▶️Step 1: A project team completes the process of registration and verification, confirm endorsers and review information.
▶️Step 2: Endorsers conduct across review of all projects.
▶️Step 3: Based on the cross-review result of the endorsers, Huobi Next will ultimately determine which project can enter the public voting. (In Huobi Next, all endorsers are rated based on the performance of the projects they recommend/evaluate, and poor-performing endorsers will be eliminated. After we collect sufficient data on the endorsers, we will pass on the decision-making authority of this step to the endorsers.)
▶️Step 4: Endorsers must assist the recommended projects that enter the public voting to conduct information disclosure and project presentation.
▶️Step 5: After a period of presentation, voting will be held on the public voting platform. Projects fulfilling the voting targets will be ranked according to the number of votes they receive (from high to low), and the top 2 projects of each round will be listed.
▶️Step 6: According to the current schedule, each round of presentation will last for seven days, and the voting duration is 1 hour. The period may be revised according to practical results in the future.
For more details on the rules, please follow this link.
Differences Between Huobi Global and Huobi Next
While users are now able to switch between the exchanges effortlessly and fully appreciate the convenience of having both exchanges as part of Huobi Global, there are still differences between the two.
The Huobi website states the differences as:
Projects are selected in different ways. Huobi Main, the previous Huobi Global, selects excellent blockchain projects according to the SMARTChain model and listing standards of Huobi. Huobi Next, on the other hand, chooses high-quality blockchain projects via public voting on the open platform composed of endorsers, eligible voters, and HT community.
Development stages of projects are different. Huobi Main is mainly for mature projects established for a relatively long time, formed an economic ecosystem and had a certain extent of the community foundation. By contrast, Huobi Next is mainly for early projects of advanced technology and great potential to succeed.
Huobi Next will be the exchange featuring predominantly newer and higher risk projects needing a more stable platform in which users can purchase tokens/coins for their projects. They will be home to many innovative projects still in their relative infancy and more in tone with the requests of the community.
Huobi Global, on the other hand, will showcase much more prominent and established projects. These will be projects which already have good existing community and technical foundations which have passed the stringent tests from the Huobi team.
Are These Changes Worthwhile?
While initially, the changes might’ve brought upon confusion as to how this new exchange was going to be implemented, it is fair to suffice the community response so far has been very encouraging.
It would not be incorrect to say that HADAX despite the initial intentions did not achieve the level of recognition or community awareness that was intended or to that of a similar standard to Huobi Global. So by now essentially integrating the two, while still having relative differences, Huobi Next will enjoy the trickle-down effects of being primarily under the same platform as its more established older brother.
To participate in Huobi Next as well as Huobi Global, please follow this link.
Disclaimer: Please only take this information as my OWN opinion and should not be regarded as financial advise in any situation. Please remember to DYOR before making any decisions🤓
♂️ Hi, my name’s Sal.
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