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Huobi have announced their second Initial Exchange Offering (IEO) following the success of their first IEO.
Huobi announced their latest IEO project to launch on the exchanges IEO platform will be NEwton Project (NEW)
Happy to announce that our 2nd Huobi Prime coin launch will be $NEW, native token for Newton Project. Newton's vision is to create a freer, fairer, and more open economy by providing the means for governance, collaboration, and motivation. https://t.co/VQYFWeGMNJ #HuobiPrime pic.twitter.com/oYPNuesnLR
— HuobiGlobal (@HuobiGlobal) April 9, 2019
The next IEO on the exchange to launch will commence on April 16, 2019 20:00 GMT+8 and will be looking to raise under $5 million for a 2% allocation of NEW tokens.
Read more: Huobi announce rules for next IEO including HT holding requirement
According to ICODrops.com, the project has already raised a whopping $26 million and the 2% IEO on Huobi is likely just an easier method to get listed on the exchange.
With only 2 billion tokens up for grabs out of a total 99 billion, the 2% of available coins will most likely sell out fast. Huobi have also implemented their latest attempt at making the IEO participation more fair with their Huobi Token holding method, where users who hold Huobi Token (HT) will have more chance of participating in the IEO.
The IEO will feature three rounds with three seperate price structures. In order to stand in line to participate, users need to hold a minimum of 500 HT for over 30 days before the date of th IEO.
Read more: Bilaxy exchange set to launch native token called Bilaxy Token (BIA)