Singapore cryptocurrency exchange Huobi Global launches a special platform for the sale of tokens before the release, the company said in a statement released March 20.
The platform, dubbed Huobi Prime, aims to provide participating investors with access to new altcoin tokens before they appear on the major exchanges.
Prospective projects will pass the verification procedure, while successful candidates will offer tokens to investors in three 30-minute flash sales, the blog said.
Huobi Prime is aimed at both large and small investors, with individuals, the maximum amount of which is $ 1,000 .
The restriction will apply to the native Huobi (HT) token, which will be the only trading partner for new tokens on sale.
“We developed it from scratch to be a more innovative, direct and responsive way to gain access to new tokens,” commented CEO Leon Lee on his blog, adding that the decision to create a product was partly due to the customer’s request.
Huobi announced the launch date of the first sale of tokens on March 26 .
This is happening against the background of changes on the stock exchange, as managers seek to absorb the impact of the ongoing suppression of prices on cryptocurrencies. Last month, Huobi restructured its eight-month Australian subsidiary to cut costs, also revealing recent employee dismissals.
A similar story unfolded in other large companies engaged in the crypto industry, including ConsenSys, developer of mine-miners Bitmain and Ethereum (ETH).
Huobi Prime follows the precedent of a massive Binance crypto exchange. Launchpad held a sales platform for tokens on the Tron-based token BitTorrent (BTT) in January of this year, followed by another public sale of tokens for AI and the Fetch.AI smart contract project in February.