Huobi Pool Token (HPT) dominated the results of the voting which may be natural since most users who own HT which are needed for the voting, are already supporters of Huobi Pool. HPT was so oversubscribed - almost 1,100% what was needed - that voters will expect a huge payoff of almost 1 billion HPT tokens. Each 1HT staked (voted) gets 1,333 HPT in return.
Huobi Pool Token Dominates Voting, Rate3 Network Comes in Second. Both have exceeded the required votes by multiple times. The strong interest in these projects warrant a closer look.
What is Huobi Pool?
Huobi Pool is a sub-brand of Huobi group, pooling together different communities to create a larger, more stable, transparent business platform that covers POW, POS and DPOS mining. The idea is cross-pollination of expert services as well as an embodiment of the concept - strength in numbers.
Miners on the Huobi Pool platform are able to use their integrated wallets system to store and transact their mining revenue. In the business for a long time, Huobi has the trusted reputation of maintaining the security and capabilities of the wallet.
Expert know how is extended to the members of the community too. Technical services mentioned include starting a mainchain, drafting smart contracts, fixing technical vulnerabilities and discovering bugs, daily maintenance and upgrade of software, settlements and liquidations.
Close Second - Rate3 Looks to Creating Cross Chain Asset Tokenization and Identity Management
The second place for the last round of HADAX voting wrought Rate3 in the picture. Rate3 Network also exceeded its needed votes by more than 3 times. It is a B2B company, looking to build Blockchains for enterprises through cross-chain asset tokenization and identity management. Specifically, this means drafting similar smart contract standards, creating common legal frameworks and crafting a unified identity ecosystem.
The benefits to businesses are multi-fold. Rate3 envisions being able to create stablecoins for business purposes, enable micropayments for customer management and supreme customer experience, and a secure global identity to protect the business-client relationship.
HADAX - Redefining Autonomy in Project Listing
Huobi Autonomous Digital Asset Exchange is really putting the autonomy back to the projects with this automated listing process. This concept may not have caught on yet, with only 4 projects participating. Yet with the Cambrian explosion of Blockchain projects, an autonomous process of listing seems to be a big step in the right direction.
It remains to be seen if HADAX will lead the exchange business in the right direction as a trailblazer or fizz out in the steps of many other ghosted projects. One thing is for sure, this is definitely a novel approach.
