-based is launching a dedicated platform for pre-release sales, the company confirmed in a on March 20.
The platform, dubbed Huobi Prime, aims to give participating investors access to new before they appear on major exchanges.
Prospective projects will go through a vetting procedure, with successful applicants offering to investors via three 30-minute flash sales, the blog post outlines.
Huobi Prime is geared to both large and small investors, with individuals subject to a maximum $1,000 investment cap.
The cap will be applied in terms of the native Huobi (HT), which will be the sole partner for new on offer.
“We’ve designed it from the ground up to be a more innovative, direct, and responsive way to access up and coming new ,” CEO Leon Li commented in the blog post, adding the decision to create the product was in part due to customer demand.
Huobi named the launch date for the first as March 26.
The move comes amid changes at the exchange as executives seek to absorb the impact of the ongoing price suppression in crypto markets. As Cointelegraph last month, Huobi restructured its eight-month-old spin-off to cut costs, also revealing recent redundancies among staff.
A similar tale has unfolded at other major crypto industry firms, giant and () developer .
Huobi Prime follows the precedent of major crypto exchange . The exchange’s platform Launchpad the high-profile for the -based (BTT) this January, by another public for AI and smart contract project Fetch.AI in February.
Published at Wed, 20 Mar 2019 14:14:43 +0000
