Full disclosure: This article is not intended as investment advice. It is just my personal opinion about HADAX 2.0. You should always do your own research #DYOR. Huobi Global incentivizes me for writing this article and encourages me to express my own opinions.
Huobi Autonomous Digital Asset Exchange (HADAX) is a subsidiary of digital asset financial service provider Huobi Group and focuses on including its community in their decision-making process. HADAX digital asset exchange consists of Ethereum based ERC20 tokens. The majority of the tokens listed on the exchange have been listed by recommendation of Huobi Super Voting nodes or they have won a previous token voting round, by obtaining the most votes from Huobi Token holders. Huobi Token (HT) is Huobi’s native exchange token and can be traded on Huobi Global, HADAX and Bibox exchange.
HADAX has a very easy to use registration form for projects that want to have their ERC20 token listed on the exchange. It will only take a few minutes to fill in the form and submit it to the HADAX board for review. On the Huobi Automated Listing Platform projects can check the progress and submit additional information. Projects that want to list on HADAX should be recommended by at least one endorser (often a well-known investment organization in the cryptocurrency industry). After all the project information is received, reviewed and cross-evaluated by the endorser, the project will enter the Project Showcase section in which Huobi users can interact with the project’s team and find relevant information about the project. The Public Voting will start after the project is listed in the Project Showcase section. If the project receives the most or second most votes, the project will be scheduled to be listed on HADAX 2.0.
If you would like to know more about this process you can check out this page.
The first phase of the public voting round that commenced on the 27th of August has been quite successful as the project with the highest number of votes, Huobi Pool Token, received more than 10 times the estimated number of votes and the runner-up received 3 times the projected votes. These results show strong community participation and indicates that the steps HADAX has taken to improve their previous voting system have paid off. This new approach is also in line with Huobi’s goal of creating a fully decentralized autonomous digital asset exchange.
Since the Huobi Pool Token project is a sub-token of Huobi itself, the third placed project will also be scheduled to be listed on HADAX 2.0. Below you will find an overview of the 3 reputable projects that received the most votes during the last voting round:
Huobi Pool Token (HPT) is a sub-token for Huobi Token (HT). HPT will be distributed to Huobi Pool clients and will be airdropped to Huobi Token holders. Huobi Pool is a subdivision of the Huobi Group.
Huobi Pool aims to provide digital asset producers with a safe, stable, open and transparent platform that provides users with Proof-of-Work (PoW) mining, Proof-of-Stake mining, Delegated Proof-of-Stake technology export service and other interesting features. Huobi Pool also provide PoS miners with compatible wallets with built in mining services to attain a stable mining revenue.
Rate3 is a blockchain project that focusses on bridging enterprises with blockchains through the implementation of cross-chain tokenization of assets. Furthermore, Rate3 provides a cross-chain identity protocol that allows for managing a unified cross-chain identity framework. Rate3 has a strategic partnership with PayPal and IOST and are backed by various high-profile VC firms, like FBG Capital and Matrix Partners China.
Tripio positions itself as the first blockchain based travel marketplace. It aims to connect global customers with travel industry service providers. Their goal is to create and launch a fully decentralized ecosystem based on transparent, tamper-resistant trust and an operational reward system. As stated in their article on Medium, Tripio raised a total amount of 20 Million Dollars in funding and they are backed by BlockVC, F2Pool and Tron Foundation.
If you own Huobi’s native exchange token, Huobi Token (HT), you can easily use them to vote on your favorite project to get listed on HADAX. In the process, if the project is listed, they will often give you an airdrop that will be deposited in your Huobi account in different phases. Besides getting airdropped tokens based on the amount of HT’s in your account and the discount you can get on your trading fees, using HT to vote can be a nice additional benefit.
I really like the recent updates made to the platform. One of the main benefits of HADAX, in my opinion, is the interaction with the community. Users are included in the decision-making process regarding the listing of projects, and they are rewarded for sharing their thoughts on improving the platform. The HADAX project center is a nice new feature that comes with an overview of the projects that are listed on the exchange or are participating in the voting system.
I appreciate the fact that HADAX is continuing to improve and become a better exchange with more community interaction, as most of us want to see more decentralized exchanges that make their community the main actors in their decision-making process.
If you have not yet registered for an account on HADAX / Huobi Global you can register using this link. Remember having an account at HADAX will automaticly give you access to Huobi Global and vice versa. You will only need to register once to be able to trade on both exchanges.
Subscribe to my channels: Medium, Twitter and Steemit if you enjoy my articles and would like to be informed about blockchain, cryptocurrency projects and news. You can also read my articles on LinkedIn.
If you have any questions about this article, please comment in the comment section below. Claps are also welcome, Thank you!