On 20th August, Huobi Global has officially announced about FastTrack Phase 7 to be launched on August 21, 2019. For the 7th phase, Huobi Global has announced two FastTrack project candidates. ARPA and Wirex Token.
As per the Fastrack model, a total of 1 million USDT worth of project tokens (market price) will be sold (at a discount of around 50% off) to voting users. Also, an equivalent of 500,000 USDT worth of HT will be burnt.
Sounds interesting, read more.
Project Candidates for FastTrack Phase 7
Before getting to details of FastTrack process let take a short look into the two candidates
ARPA is a secure multi-party computation network relying on smart
contracts and information exchange among multiple blockchain
networks, and is a type of Layer 2 solution.
The main aim of ARPA is to guarantee information security under active secure conditions. Apart from encrypting data ARPA also maintains the network environment through random node selection, token pledging, node registration, reward, and punishment and other measures to reduce malicious nodes hence protecting the ecosystem.
ARPA’s highly-international core team consists of renowned cryptographers from Tsinghua University, system architects from wall street hedge funds, seasoned engineers from Google, Uber, Amazon, Huawei and Mitsubishi, blockchain experts from the University of Tokyo and Wanxiang blockchain labs, data scientists from AIG, World Bank, CircleUp, as well as venture investors and consultants from Fosun and Fidelity Investments.
Wirex Token (WXT)
Wirex Token (WXT) is the cryptocurrency of the Fiat and crypto payment platform Wirex, which is a UK-based and FCA-licensed digital payment platform. Based on Stellar blockchain WXT designed to help users access unique rewards like saving on fees, transfers based token designed to be extensively used within the Wirex app and on other cryptocurrency platforms. WXT will benefit our growing number of users by helping them save on fees and unlocking exclusive rewards on Wirex platform.
As per Huobi, The number of HT votes a qualified user can exercise in the upcoming voting session depends on the minimum HT holdings held during the holding period, subject to a floor limit of 1,000HT and ceiling cap of 5,000HT. For example, A user with a minimum HT holding of 6,500HT during the holding period will receive 5,000HT equivalent voting rights.
The HT holding period for this phase has started from FastTrack Phase 6, and run till the upcoming FastTrack voting date. ( 00:00:00 August 7, 2019–23:59:59 August 20, 2019) (HT holding based on random daily snapshot).
Voting of Faststarck 7 is set to start at 20:00:00(UTC+8) August 21, 2019
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Disclaimer: This article is not intended as investment advice. It is just my personal opinion about Huobi Prime. You should always do your own research.