News Huobi Prime Lite runs first token offering of Thunder...

Huobi Prime Lite runs first token offering of Thunder Tokens


- Advertisment -

Crypto exchange Huobi has begun its new streamlined Initial Exchange Offering (IEO) service called Huobi Prime Lite. Its first offering for Thunder Tokens sold all 33 million tokens on offer to more than 26,000 people today.

The Thunder Token offering allocated just 0.33 percent of the project’s total supply of coins. The rest of the total supply of tokens is distributed to the ThunderCore company (which created the token), its employees and for various promotional activities.

ThunderCore is run by CEO Chris Wang who created Playdom, which was acquired by Disney for $760 million. It claims to offer a high transaction throughput of 1,200 transactions per second and is compatible with the Ethereum Virtual Machine.

The Lite offering is an accelerated launch platform that follows in the footsteps of Huobi Prime—its main exchange offering platform. The purpose of the offering is to maximize the number of “vetted, quality coins” Huobi can shell out to interested investors. And Huobi looks set to expand these platforms even further—with a new Prime offering set to be announced on May 12 at New York Blockchain Week.

More and more exchanges are running IEOs in what appears to be a resurgence of the ICO mania. So far, it has been working, with Binance’s IEOs selling like hotcakes. Even Bitfinex has jumped into the mix, seeking to raise $1 billion in an IEO of its own token—coming shortly after it was discovered to have a $850 million black hole in its bank account.

So, is this a sign of good things to come—or is it just a dead cat bounce?



Please enter your comment!
Please enter your name here

Latest news

What’s the future of decentralized blockchains?

When Bitcoin was new and not valued at anything or just a few cents anyone could join...

My 5 favorite free crypto tools & sites I use daily

So I often get asked by friends, or people visiting my site about new tips for exciting...

Cryptocurrency is The Last Kingdom Where You Can Keep Your Data Private

Data privacy has been a hot topic for quite some time now and particularly after the popularity...

How To Travel With Bitcoin: 9 Travel Companies Accepting Bitcoin

Bitcoin travel is a reality, as several travel companies now accept payments in cryptocurrencies for their services.
- Advertisement -Huobi Prime Lite runs first token offering of Thunder Tokens

Top 5 Ways To Build a Profitable Business in The Crypto Sector

The crypto industry has grown significantly despite criticism and a skeptical approach from regulators across the globe....

These 8 Cryptocurrencies Will Survive the Next Decade

Cryptocurrency is the future, we all have reasons to believe it. But are people ready...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you