HADAX is now Huobi Next
If you’ve been closely following some of the most promising projects early, there is a very good chance that you heard about HADAX. I came across HADAX because it was among the first exchanges to list MAN and SEELE, two of this year’s biggest projects out of China. Recently updated to HADAX 2.0, HADAX 2.0 is an autonomous exchange that lists promising cryptocurrency projects that are still in their infancy. Recently, the status of HADAX 2.0 has been upgraded into Huobi Next, and will now be part of the main exchange Huobi Global, in a long-term ecosystem strategy. Unlike previously when using Huobi, you had to be redirected into another tab to access HADAX 2.0, currently logging into your Huobi account gives you access to both exchanges on the same window. The original Huobi is referred to as Huobi Main whereas HADAX 2.0 is now referred to as Huobi Next. Huobi users now have more cryptocurrency assets to choose from; also the coins that were only listed on HADAX 2.0 now have access to a larger pool of liquidity. Accessing HADAX no longer feels like taking a detour while using Huobi Global, rather all the assets are easily accessible from the search bar in one unified interface. Not to mention that all the voting processes are integrated into Huobi Global too. Now that HADAX community driven management is integrated in Huobi, this increases community engagement even more in the running of Huobi Global. Such a small difference can go a long way.
Difference between Huobi Next and Huobi Main
One of the distinguishing features of Huobi Next from Huobi Main is the criteria for project selection.
✅In Huobi Main, projects are screened through the SMARTChain model and listing standards of Huobi. Here, projects are thoroughly examined for any faults.
In Huobi Next, a two-tiered public voting that includes top endorsers and public in that order.
✅Huobi Main lists older and more mature projects. Some of the more recent listings include Stellar, Waves and NEM. HADAX on the other hand lists younger projects which haven’t gone too far in their roadmap but have strong qualities like strong team, ambitious goals etc.
HUOBI NEXT VOTING PROCESS
Important to note however, that the voting of new listings on Huobi Next are similar to the old HADAX. And this has also been integrated in the unified Huobi interface. The voting process is outlined below:
🔹A project applies for listing
🔹Endorsers review the project. Think of endorsers like prime investors; they have technical and financial qualification to assess projects. Endorsers are usually blockchain venture capitalist firms or other important ecosystem players.
🔹Results of the cross-review inform which projects Huobi Next will qualify for the next round of public voting.
🔹Endorsers inform the approved projects on project presentation going into the final round of the voting.
🔹After presentation, voting is held on the public voting platform. The top 2 projects of each round will be listed. Currently, each presentation is 7 days long and voting takes place one hour long.
According to official Huobi blog, the first phase of the new era of Huobi Next will begin soon:
- Project teams can submit listing applications here: https://www.hbg.com/application-center/
September 25 is the application deadline for Phase I; - From 14: 00, October 9th to 14:00, October 16th (GMT+8): the first group of projects in the public voting will be displayed at the Project Center together with endorsers;
- From 14: 00, October 9th to 14:00, October 16th (GMT+8): the first group of projects in the public voting will carry out a live broadcast.
- From 14:00 to 15:00, October 16th (GMT+8): the first phase of public voting will begin.
To learn more about Huobi Next:
https://support.hbg.com/hc/en-us/articles/360000152441-Launching-of-Huobi-Next-and-Plans-for-Phase-I
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Full disclosure: This article is not intended as investment advice. It is just my personal opinion on Huobi. You should always do your own research. Huobi Global rewards me for writing this article and supports me for ventilating my own personal opinion.