Huobi Launches New Digital Asset Mining Platform
- Primepool will enable users to participate in the launch of new premium projects on Huobi.
- Users will be able to “mine” new assets by staking HT or ETH, receiving rewards in the form of new tokens.
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Huobi Global announced the launch of Primepool, a new digital asset mining platform that will provide its customers with a way to participate in the “ecological development” of new projects. According to a press release published on 30 July, the platform’s launch follows Pioneer Zone’s setup, a trading sector dedicated to building a bridge between investors and high-quality projects. Primepool is based on the “New Assets” and “DeFi Mining” services previously offered by Huobi.
“As a safe and reliable mining platform, Primepool allows users who are interested in the project to take part in its ecological development with a low barrier of entry, and thereby obtain greater wealth effects,” said Ciara Sun, the Vice President of Global Markets at Huobi Group.
She explained that despite the rise in the number of premium projects emerging each year, a large percentage of retail traders still find it difficult to access them. By offering the opportunity to enter these projects at their very beginnings, Huobi will enhance inclusiveness in the crypto space and build a sound crypto ecosystem, she added.
The first project to be listed on Huobi’s Primepool is DeFine, an NFT-based decentralized social network designed for Web 3.0. From 2 August to 9 August, users will be able to join DeFine mining by staking either HT or ETH. Mining rewards in the form of DeFine’s native DFA tokens will be distributed based on the users’ staking amounts.
- The Securities Commission Malaysia ordered Huobi Global to stop all of its activities in the country as it was not registered with the regulator, and was operating illegally.
- The exchange was also directed to disable its website and mobile applications, as well as cease all advertising of its products and services in the country.
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- Cryptocurrency exchange Huobi revealed that it is working on acquiring a crypto trading license in Hong Kong, and on opening a new trading platform in the city.
- The expansion was motivated by the Securities and Futures Commission’s (SFC) upcoming licensing regime, which could also allow retail investors to trade crypto.
- North Korea’s Lazarus Group has moved around $63.5 million of crypto assets connected to the Harmony bridge hack over the weekend.
- The hackers tried to move a portion of the funds through Binance and Huobi, but the exchanges were able to freeze their account and recover around 124 BTC.