HADAX 2.0: Voting Results and What it Means For the Community

HADAX or Huobi Autonomous Decentralised Asset Exchange recently launched the revamped version of the platform, HADAX 2.0. With a host of awesome features and improvements, HADAX 2.0 aims to be the premier asset exchange platform for budding projects with high potential. It is important to note that those who have an account on Huobi.Pro will also have access to a HADAX account. So if you don’t have one, you can create one right here.

The launch of HADAX 2.0 was followed by the first round of voting on the brand new platform. HT holders and community showed up in strong numbers to make their voice heard and take part in voting, resulting in three out of the four projects making their way to the next round of voting. But we’ll get to the voting and the winning project a bit later in this article. First, let’s take a looked and the new and improved HADAX 2.0

HADAX 2.0 Regime Overview

HADAX 2.0 has loads of features and improvements that span project application, evaluation, project showcase along with an improved voting and listing system. It all begins with Project Application where a project team registers and verifies themselves on "Huobi Automated Listing Platform" and submits the necessary documents. The next step is a cross evaluation where HADAX determines which projects can enter the public voting for each round.

After this comes "Huobi Show Center for Blockchain Project" where a project that qualifies for public voting is required to showcase their project.

Following this showcase, the project enters the public voting platform. Here, project teams provide a certain quantity of tokens as voting rewards. Each project shall define a target vote quantity by HT, and the voting rewards tokens shall be distributed against these target votes.

Finally, it comes down to the results. The top two projects that hit the voting target and get the most votes will be listed. That’s a brief rundown of how HADAX 2.0 works.

The new and evolved HADAX 2.0 has received an overwhelming response from the community as well as HT holders. This was evinced in the fact that the first round of voting saw a tremendous turnout of voters and HT holders who voted enthusiastically for their favourite projects.

Here’s a detailed look at the HADAX 2.0 regime: https://www.hadax.com/topic/voting-describe/

1st Round of Voting Results

Four projects which comprised of HPT (HuobiPool Token), RTE (Rate3 Network), TRIP (Tripio), and MXC (Machine Xchange Coin) were in the running to progress to the next stage.

Post voting, 3 project emerged victorious - HPT, RTE and TRIO.

Of these, it is interesting to note that HPT (HuobiPool Token) received a whopping 10x of its target vote while RTE received 3.5x its target vote. TRIO meanwhile achieve 147.5% of its target vote.

You can find details results of the voting here: https://www.hadax.com/vote/

An Overwhelming Community Response

These staggering results are proof of robust community participation and involvement in the voting process on HADAX 2.0. It highlights the fact that HT holders and the Huobi community believe in and stand by the efforts of Huobi Global’s autonomous ambition and vision they have for HADAX 2.0.

If you are an HT holder and would like to rally behind Huobi Global’s efforts and show your support then this is how to do it - by voting! In fact, voting rights and the ability to have a say on what projects get listed on HADAX 2.0 is one of the main pillars of the autonomous exchange and the key advantage of holding HT. Think of your HT holding as your voice - by voting you are making it heard loud and clear and that’s a big advantage to have. In short, the power is quite literally in your hands when you hold HT. And Huobi constantly and consistently puts in a lot of effort to award HT holders too. This is another big reason why the community behind them is so supportive and places their trust in the platform.

If you too are interested in making your voice heard and being a part of this amazing community, then don’t wait a second longer. All you need to do is stock up on some HT which you can purchase on Huobi.Pro or HADAX 2.0 and you’re all set to go. Casting your vote means you’re playing an important role in the whole process by making your voice heard.

Some Key Information About The Winners: HPT, RTE and TRIO

HPT - Huobipool Token

HPT is short for Huobipool token, which is a sub token for Huobi token. The Huobipool, a sub-brand of Huobi group is based on the concept of “Double Mining" and promises to make a valuable contribution to the Huobi Global ecosystem and community. It has a total supply of 10 billion which will be distributed to the Huobipool clients and the Huobi token holders.

Huobi Pool Tokens are certificates of rights and interests issued by Huobi Pool and they will airdrop 51% of the income to the community builders according to their respective contribution to the community. Such incentives are gradually released to the community through investment and computing power mining.

Huobi Pool also has an ingenious wallet which provides miners with built-in mining services enable them to obtain a stable mining revenue. In the first round of voting, HPT received 10x of its target vote.

Check out more info about HPT here: https://www.huobipool.com/#!/community

RTE - Rate3 Network

Rate3 Network is a decentralised dual protocol to bridge enterprises to blockchains through cross-chain asset tokenization and identity management. The Rate3 Tokenization Protocol is a end-to-end protocol for tokenization of assets on both Ethereum and Stellar. The protocol uses a combination of trusts, custodian accounts and legally-enforceable smart contracts to guarantee legally-recognized ownership rights and specify how trustees manage assets.

Rate3's Cross-Chain architecture allows assets to be issued on both the Ethereum blockchain and Stellar network, and token swaps done through hashed time locked contracts. Through using Stellar Consensus Protocol (SCP), transactions are fast, cheap and can utilise the Stellar Distributed Exchange. Using Ethereum allows for more complex, turing-complete smart contracts.

Rate3 are strategic partners of both PayPal and IOST while prominent investors include Matrix Partners China, Node Capital, Fenbushi Capital, FBG Capital, Kenetic, Nirvana Capital, Hash Capital amongst others.

In the 1st stage of voting on HADAX 2.0, RTE received over 3x their target votes.

Check out more info about RTE here: https://www.rate3.network/

TRIO - Tripio

Tripio is the first travel marketplace based on the blockchain. It leverages the decentralized network provided by blockchain technologies to directly connect global customers and service providers. Moreover, it builds a service ecosystem based on transparent, tamper-resistant trust and incentives.

TRIO received over 150% of its target in the voting stage.

Check out more info about TRIO here: http://trip.io/

More Information about the three projects can be found at the HADAX 2.0 Project Centre: https://www.hadax.com/projectcenter/

Reasons For The High Voter Turnout

I believe that voters turned up in big numbers for 2 main reasons.

Reason 1 - To show their support

Being an HT holder, it is almost a duty and responsibility to use your voting power to vote for your favourite projects. Having a say in the platform forms the backbone of an autonomous exchange - that’s to say that the community, and no higher authority, gets to decide the future and the way forward for everyone involved. Showing up in large numbers and casting votes benefits of the entire community itself and creates strong support going forward. Apart from this, there are also incentives are rewards to be earned by holding HT and voting.

Reason 2 - A Strong Project in HPT

It isn’t a surprise that strong projects get strong support. And projects don’t come stronger that HPT. Let’s take a closer look at it.

Huobi Pool is an important component of Huobi's global ecological strategy and a sub-brand of Huobi Group. Huobi Pool has quickly grown and experienced three development stages just within half a year. The first stage is Mining 1.0. Focused on POW mechanism, the product was officially launched on March 30, 2018. With a commitment to“make mining easier”, it has connected the upstream and downstream of the blockchain industry, built a bridge between miners and the exchange, and provided miners with mining, trading, and other one-stop services with a direct access to Huobi trading platform.

The second one is mining 2.0. EOS super community was launched on May 14th, 2018 while POW and DPOS mechanism were blooming. DAPP Incubator was launched during the same period, with a focus on creating killer DAPPs.

The third stage is mining 3.0. On August 19th 2018, HPT – the sub-token based on the Huobi global ecological token, HT, was issued.

Given the tremendous value that HPT adds to the Huobi ecosystem it isn’t surprising that the community rallied behind it in such unbelievably strong numbers.

HPT received over 10x the target votes, which is quite a feat by any standard. In addition to what I’ve stated above, HPT also allows users to deeply participate in the future development of Huobi Pool and share the value growth of Huobi Pool - another huge reason for the voting support behind it.

Read all about HPT here: https://www.huobipool.com/#!/community

Final Thoughts about HADAX 2.0

The new HADAX 2.0 regime looks to revamp the listing process and revolutionise the crypto asset marketplace, with emphasis on corporate-level and community-level responsibility and voting.

With a host of stunning features and some amazing improvements, I believe that HADAX 2.0 is definitely the autonomous exchange of the future. The emphasis that they place on voting and encouraging and promoting participation amongst community members and HT members is unparalleled. It is very evident that Huobi puts in a lot of effort to boost their community and uplift its members - empowerment of HT holders is a key pillar of the project. And this strategy of staying by the community’s side has reaped big rewards for them. Huobi Pro grown to become a Top 3 exchange by volume in the world, while HADAX 2.0 has strong support when it comes to voting. From here, I think it’s only on to bigger and better things for HADAX 2.0 and a safer, secure and more rewarding experience for all users.

If you aren’t already part of Huobi then sign up here. The future does indeed look very promising.

Disclaimer: The material provided herein is general in nature and does not take into account your objectives, financial situation or needs. While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. For the avoidance of doubt, this article is solely intended to be for general information only and does not in any way constitute as professional advice or financial advice. This is not an invitation or an offer to buy or sell cryptocurrencies, nor is it a recommendation to buy or sell specific types of cryptocurrencies. Trading cryptocurrencies carry a high level of risk that may not be suitable for some. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice.

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