HADAX 2nd Phase of Voting Rules Updates
Voting for Token Listing on HADAX is the first attempt for Huobi Pro to start business on decentralized trading platform services and autonomous community. We intend to make the listing process more transparent and simplified. We look forward to introducing blockchain technology to our real business.
Meantime, HADAX has set the investor admittance standards. HADAX is expected to provide professional traders, who have a certain capacity of undertaking risks and managing investment, with more autonomous choices and meet the needs of users with diversified backgrounds.
It is a great pleasure to offer opportunities for creative digital asset start-ups and bring them to professional investors. Also, we want to create a platform for digital asset and blockchain start-up teams.
After this phase of voting concludes, we have summarized the problems in the voting rules and process:
1. Some users voted for many projects and the number of voted users could not represent the degree of the community support objectively.
2. Only taking the total of votes as the listing standard can lead to a dilemma that all the teams are trying to invest as much money as they can to win the voting. And this, absolutely, generates adverse effects to the projects with lower valuation and smaller financing scale.
To resolve the problems above, yesterday, we released the “Exit Mechanism” for the projects of the 1st phase of voting. View details here:
We also have proposed an update for the voting rules of the 2nd phase:
1. We will limit the number of projects that one user can vote and we will manually check their votes by sampling to ensure the authenticity of their support.
2. Super Voting Node is added. We will introduce professional investment organizations with favorable credits in the industry to vote as super nodes. Their votes will also be considered as one of the listing indicators.
3. Security Deposit is also added. This can reduce the risks of teams breaking the contracts. The rate of project security deposit will also considered as one of the listing indicators. The Deposit will be returned to the teams regularly, month by month, in the next 12 months.
4. Project valuation indicator is introduced as one of the listing indicators.
5. The admittance standards of HADAX voting are that: projects must be legal and authentic; projects must be listed in any one of the top 20 exchanges in the world.（
We are here to collect suggestions for the voting rules of the 2nd phase. Any suggestions are welcomed. Once your suggestions are taken, you will have the chance to get our HT rewards. You can give your suggestions here:
We will update and improve the rules according to users’ feedbacks. Please pay attention to our announcements.
March 1, 2018