In the latter half of 2018 the Huobi Group find themselves as a world leading exchange. They have made waves with news including the development of a $93million start-up fund, build-a-platform services, and more.
With much of the current news focusing on the future of decentralized exchanges, atomic swaps, and the future role of centralized exchanges, Huobi’s future is in question. Many crypto projects have been founded on an ideology supporting democracy and decentralization. Although centralized exchanges are currently the industry standard, their use many diminish in the future.
Transparent Listing
For the time being though, centralized exchanges are as popular as ever. With the huge amounts of projects taking form every day, they are often inundated with request for token listings. With this in mind, Huobi has now announced the ‘Huobi Automated Listing Platform’.
The ALP will function as a means to streamline communication between applicants and Huobi. Those wishing to have their token listed on the Huobi exchange now have a clear cut way for achieving their goal. This involves the creation of an account on the ALP, and submission of the appropriate documentation.
The platform is more than simply a blank box to be filled in. It is interactive in nature. Users will receive notification on listing status, eligibility for re-applying, and more. In addition to this, Huobi will be incorporating the ability to access media content. In their press release they stated, “This unique login account will also allow access to reports, videos and live broadcasts via Huobi Blockchain Project Show Center which shall be launched at a later stage.”
Avoidance Tactics
News of this ALP is intriguing at this time due to the recent public perception issues Binance is undergoing. Binance has found themselves under a microscope due to their alleged extortion-like practices of listing tokens. Not wanting to be grouped under the same banner as Binance, Huobi is ensuring they offer an equal-opportunity listing services.
Through a series of emails and accusations, Binance is said to charge an outrageous fee of 400 BTC for a token to be listed on their platform. With the amount of money being thrown at ICO’s by the public, many questionable projects may make it onto their exchange. The huge sum of BTC required for listing also has many viewing the practice as outright extortion. ‘Pay us everything you have, or we won’t list you on our exchange’.
Binance CEO Changpeng Zhao wrote, “We don’t list shitcoins even if they pay 400 or 4,000 BTC. ETH/NEO/XRP/EOS/XMR/LTC/more listed with no fee. Question is not “how much does Binance charge to list?” but “is my coin good enough?” It’s not the fee, it’s your project! Focus on your own project!
Whether you believe Binance (who further went on to claim the alleged emails were frauds), or you believe the accusers doesn’t matter to Huobi. They do not want to fall into this trap. Their platform to avoid situations like this is now live for applicants to use.
