As part of leading blockchain company Huobi Group’s first foray to San Francisco’s Blockchain Week last week, Huobi executive Lu Mai introduced Huobi NEXT, the group’s innovative, community-based cryptocurrency exchange, to US investors and thought leaders.
Huobi NEXT is designed to connect new, high potential, early-stage coin projects with high potential to investors seeking to gain early exposure to them. One unique feature of the platform is that the final decision of which projects to list is decided by the exchange’s broader community via public vote.
“Huobi is trying to build an open platform for all participants to contribute and share the value,” said Lu, who heads Huobi NEXT as well as Huobi Group’s coin listing team.
After project teams formally submit their coin projects for listing and Huobi verifies each for authenticity and legitimacy, the process starts with Huobi NEXT endorsers, who are made up of reputable and well-respected investment institutions. Each nominator selects projects for consideration then they vote as a group on the top ones. “We’ve got 40 endorsers from all over the world,” said Lu. “We are always trying to recruit more endorsers to partner with us and to enlarge our ecosystem.”
The next stage involves qualified crypto investors as well as the broader Huobi community made up of holders of Huobi’s native token. Participants can pay via Huobi’s own native token to vote for the projects they support and receive project tokens as a reward.
The top rated projects are then listed on Huobi NEXT. “Huobi NEXT sets itself apart by featuring a more democratic, consensus-centric, and decentralized approach when it comes to coin listings,” said Lu.
Established in 2013, Huobi Group’s accumulative turnover exceeds $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries.