As part of its appearance at Blockchain Week in San Francisco during last week, the Huobi Group (presented by executive director Lu Mai) introduced the collective cryptocurrency exchange Huobi NEXT to American experts and investors.
Huobi NEXT is designed to establish contact of the creators of innovative cryptocurrency projects with vast potential with interested investors. One of the unique features of the platform is that the final selection of projects registered on the stock exchange is carried out by all participants of the site through open voting.
“Huobi is committed to creating an open platform where each participant can contribute and share the total profits,” said Mr. Lu, who heads the Huobi NEXT project and leads the Hunting Group’s cryptocurrency listing team.
Blockchain developers need to submit an official application for registration of their projects, and Huobi checks the authenticity and legality of each of them. After, the applications need to undergo an approval process with the participation of the Huobi NEXT advisory board, which includes reputable investment institutions. Each nominee selects projects for consideration, and then the council selects the best proposals by collective vote. “40 expert recommenders from all over the world cooperate with us,” commented Mr. Lu. “In addition, we are constantly looking for new reputable representatives of the industry, trying to attract them to our platform and thereby expand the existing ecosystem.”
The next stage involves the participation of qualified cryptocurrency investors as well as the entire community members, who own Huobi tokens. At this stage, community representatives vote for the projects they support by paying for participation in the voting with Huobi tokens and in return receive tokens of the selected projects as a reward for votes cast. Projects with the most votes are allowed to trade on Huobi NEXT. “Huobi NEXT stands out among its colleagues and competitors by a more democratic and decentralized approach for tokens registering,” said Lou Mai.
Huobi Group consists of ten enterprises in the “upstream” and “downstream” segments, is the leading global blockchain company. The total turnover of the holding exceeds $1 trillion. The company is rightly proud of its ability to provide safe and convenient cryptocurrency trading and asset management services to millions of users in more than 130 countries of the world.
