Huobi Prime to Update IEO Rules

Team believes that new rules will increase the number of successful transactions in the rush that accompanied the tokensale
03 April 2019   727

The Huobi Cryptocurrency Exchange, based on user feedback, changed the rules for conducting initial exchange offerings (IEO) Prime platform.

Now users who have had a minimum of 500 HT within the previous 30 days, or a larger amount of funds during a shorter period, can take part in the campaign.

There will be a personal cap on every participant, and the cap is proportional to average daily HT holdings over 30 days period before launch date, please see the following reference table for more info. (Actual cap in HT will be announced on the launch date)

Huobi Team

Huobi Token Daily Holding to USDT Personal Cap Rate
Huobi Token Daily Holding to USDT Personal Cap Rate

They believe that new rules for Huobi Prime will increase the number of successful transactions in the rush that accompanied the tokensale.

The next IEO is scheduled for April 16th.

The first IEO at the Huobi Prime site from the TOR Network project took place on March 26. All three rounds were completed in a few seconds, which caused widespread dissatisfaction among users who failed to take part in the campaign. 

Algorand to Raise $60M in 4 Hour Tokensale

The project was founded by a MIT professor and a Turing Award winner Silvio Micali and is designed to solve the problems of scalability and consensus in the DLT
20 June 2019   2187

The blockchain-project Algorand, aimed at creating an “borderless economy ”, announced the successful completion of the  ALGO tokensale, during which it raised over $ 60 million, CoinDesk reports.

The campaign was held on the CoinList platform and was conducted in the format of the so-called “Dutch auction”, in which the highest price is first announced, after which it gradually decreases.

Simultaneously with the completion of the tokensale, it was announced the launch of the main network of the Algorand. The platform processes 1000 transactions per second with a delay time of less than 5 seconds, which, as noted, puts it on par with such major payment networks as Visa and Mastercard.

In his work entitled The Monetary Experiment: Algorand A Thesis For Algo Currency Markets, the head of Arrington XRP Capital, Michael Arrington writes that Algorand is a project where macroeconomics meets cryptocurrencies. He also notes that Algorand, as a blockchain-resistant Proc-of-Stake algorithm, is distinguished by a combination of advanced cryptography and a smart economic model.

The Algorand project was founded by a professor at the Massachusetts Institute of Technology and a Turing Award winner Silvio Micali. The main task of Algorand is to solve the problems of scalability and consensus in the blockchain.

As noted, the exact number of buyers who participated in the auction remains unknown, but because of high demand, the campaign lasted less than four hours. In total, 25 million ALGO tokens were distributed with a starting price of $ 10 and a closing price of $ 2.40.

Representatives of the project also stated that since tokens are distributed to customers' wallets and are not available on stock exchanges, there is no need to talk about any value of Algorand market capitalization.

Algos are being dispersed to wallet right now (for successful bids).  Therefore – there are non on exchanges. [Therefore, no market capitalization is available for Algorand, though some have speculated it sits around $6 billion.] Which is still a top 10.

Algorand Team

Earlier, the project announced plans to auction 600 million ALGO tokens per year, and in the first five years it is planned to release 10 billion tokens.

Also note that over the last year, Algorand raised $ 66 million in venture capital from investors such as Union Square Ventures and Pillar Venture Capital.