Huobi, the largest cryptocurrency exchange in terms of trading volume, has announced that it will list the Lambda token on the exchange on December 28, 2018.
In late November, the Singapore-headquartered exchange announced that two projects – Lambda and Covalent – topped its voting process of the public voting event, called Huobi Next, conducted by the exchange. It had determined the listing of the two projects on the trading platform as Lambda and Covalent earned the maximum votes of 1,200,000 and 722,000 respectively.
Huobi introduced this voting process to give traders the chance to choose the cryptocurrencies they want to invest in. However, only leading investment institutions and Huobi Token holders are allowed to participate in the voting process.
The exchange also detailed that, before listing for the voting process, the projects went through rigorous scrutiny with its SMARTChain blockchain asset assessment model. This model assesses any project on its market potential, the associated risk factors, and its contributions to the blockchain industry.
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In the ongoing voting phase, the exchange has listed three more projects – WTL, NPXS, and ECT – for voting.
Huobi is going to launch two trading pairs for Lambda – LAMB/BTC and LAMB/ETH – and will initiate trading from December 29, 2018. However, the exchange will allow withdraws only after January 3, 2019.
Lambda, which is developing decentralized applications (DApps), is known for being a safe, fast, and scalable blockchain based infrastructure project. The developers claim that the platform will provide multi-chain data services, data privacy, distributed intelligent computing with the help of logic decoupling, and independent implementation of Lambda Chain and Lambda DB.
The project had a very successful token sale event in which it raised more than $15 million in Ether – three times its targeted hard cap.
Recently, Huobi warned traders against more than 30 coins listed on the exchange. The coins’ low trading volume attracted the exchange’s attention, and it said it might delist all these coins after further scrutiny.