Huobi Primlist (NGL)
As I mentioned in yesterday's post, it is a busy week or two for exchange crowdsales (IEOs) with events from Binance, MXC, and Kucoin. These events are an easy way to make a nice profit off the huge volatility at the market opening where prices spike up many multiples from the crowdsale price. So, if you play your cards right, then you can stand to either book a complete dump profit... or partial profit and a moonbag. Depending on the type of token on offer, I will choose between one of those two options.
All of these IEO events require a holding of that exchange's token. I prefer these IEOs to the on-chain launches as there is less of a crazy gas fee war... and there is more certainty in the initial allocation before the market goes live. Plus, I feel like there is a better vetting process in the exchange offerings rather than the wild west of IDOs that out there.
This morning was the turn of the MXC Launchpad, which I will dissect in a later post. Some little things for me to learn, mostly about maximising profit from a better spread of opening orders. I was a touch conservative this time around.
However, the next cab off the rank is the Huobi Primelist. The first Primelist from Huobi was the IMX token, the second crowdsale after the initial CoinList double round. So, a big thing to live up to!
Huobi Primlist (NGL)
There is a fairly long lead time from announcement to the actual subscription and sale, plus the subscription period is a nice two hour window. There is a two day snap-shotting period of the exchange's HT token for eligibility of participation. The first IMX Primelist needed a 100 HT holding for participation, but this second offering requires the higher amount of 300 HT (about 3000 USD).
Huobi Primlist (NGL)
Initial price is at 14.5 cents, which will help me better set my limit spreads for the market opening. I was too conservative in today's event... and as such, I made a nice profit... but I could have afforded to be much greedier! Still, no regrets and very happy!
Huobi Primlist (NGL)
Honestly, I've not really looked too much into the actual token underlying this Primelist. This is a pure volatility play here... plus a small moonbag just in case. Gold Fever (NGL) is a gaming token, a survival multiplayer game set in a sort of gold-rush setting. It looks decent enough, but like most gaming tokens, I'm pretty wary of these projects as there is so much riding on a decent player-base and ongoing interaction beyond the initial hype. I'm still not convinced that many gaming tokens are going to manage this... and so I prefer to back the infrastructure behind them instead.
Huobi Primlist (NGL)
One little annoying part is that the settlement will be done in USDT instead of the exchange token. I am used to other exchanges doing the settlement in the exchange token (it provides a sink and use-case for their tokens), so I will have to remember that I need to move some free USDT in the exchange in preparation (and avoid spending it!).
Huobi Primlist (NGL)
Now, the interesting part of the Huobi Primelist is the way that they have addressed the subscription/lottery question. Both models work, and both models have eternal complaints from people who either missed out (lottery) or got much lower they had expected (subscription)... I think people will complain and somehow feel entitled to get these events. I always figure that they are bonuses... and not part of the long term plan!
Huobi Primlist (NGL)
So, there are two different ways to take part in the Primelist. If you like to try your luck, you can join the queue... which is essentially a lottery system. Or you can join the HT holding subscription instead. For the lottery, you get a 50 USDT lot if you win... but the HT holding tiers start at 50 USDT (or less if the event is oversubscribed) but runs much much higher if you are holding more HT!
Curiously enough, the two systems have exactly the same allocation... the previous IMX sale had only about 2500 out of 65000 accounts getting a purchase slot. The subscription section is a guaranteed allocation... so, I'm more likely to choose the HT holding route because I prefer the slower but known route. It might be less profitable in comparison to winning the lottery... but I don't like banking on winning the lottery! Slow and steady wins the race....
I can also be found cross-posting at:
Hive
Steem
Publish0x
Handy Crypto Tools
Ledger Nano S/X: Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto!
Binance: My first choice of centralised exchange, featuring a wide variety of crypto and savings products.
Kucoin: My second choice in exchanges, many tokens listed here that you can't get on Binance!
FTX: Regulated US-based exchange with some pretty interesting and useful discounts on trading and withdrawal fees for FTT holders. Decent fiat on-ramp as well!
MXC: Listings of lots of interesting tokens that are usually only available on DEXs. Avoid high gas prices!
Huobi: One of the largest exchanges in the world, some very interesting listings and early access sales through Primelist.
Gate.io: If you are after some of the weirdest and strangest tokens, this is one of the easiest off-chain places to get them!
Coinbase: If you need a regulated and safe environment to trade, this is the first exchange for most newcomers!
Crypto.com: Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
CoinList: Access to early investor and crowdsale of vetted and reserached projects.
Cointracking: Automated or manual tracking of crypto for accounting and taxation reports.
Stoic: A USD maximisation bot trading on Binance using long-term long strategies, powered by the AI/human system of Cindicator.
StakeDAO: Decentralised pooled staking of PoS assets.
Poloniex: One of the older regulated exchanges that has come into new ownership. I used to use it quite a lot, but have since stopped.
