DeFine [DFA], the first project from Huobi Primepool, hikes by 3476% in 5 minutes

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DeFine (DFA), the first project from Huobi Primepool, officially launched trading at 12:00 UTC on August 5, 2021. Starting at the opening price of 0.100 Tether (USDT), DFA skyrocketed to 3.5767 USDT with the price change breaking 3476.7% in 5 minutes.

Primepool is a more direct and easy way for Huobi users to participate when compared to previous community campaigns. Users who want to obtain newly-listed tokens, such as DFA, with a low barrier of entry can do so by simply staking a certain amount of Huobi Token (HT) or Ethereum (ETH). According to the data from Huobi, a total of 1.08 million DFAs were distributed to the Primepool event participants at the end of the first round. The value was 108,000 USD based on the opening price and 3,862,800 USD based on the highest price.

“More than 14.73 million HT and 83,000 ETH were locked in the first round. HT rose by about 3% after the opening 25-35 minutes, which undoubtedly increased the confidence of HT holders,” stated Ciara Sun, Vice President of Huobi Global Market. “The Primepool event helped HT reach a large trading volume, further propelling the development of the entire Huobi ecosystem. This is exactly what we expected.” 

As the first project launched by Primepool, DFA has increased in popularity since its debut. The purpose of the event is to stake in order to earn new tokens, which means no matter the performance of the new tokens when they go live, users will not bear any loss because their DFAs were earned at zero cost.

According to the data revealed by Huobi, the annualized yield of HT mining is as high as 265.04%, and the annualized yield of ETH mining is as high as 135.86%. The investment opportunities available through campaigns like Primepool further cement Huobi’s commitment to the success of its community members.

“Customer needs are at the forefront of everything when we’re designing our products and campaigns. We used a tiered rewards system, which gives retail investors even more profit opportunities,” Ciara added.

Coinbase Pro recently announced the listing of a new token Alchemy Pay (ACH).  While the token has gained traction recently as its price grows by 30x, Huobi was ahead of the curve in listing ACH and started a staking campaign in September 2020, nearly a year before the Coinbase listing. As a result, Huobi’s early listing of ACH helped many users see a profit.

Driven by the success of ACH and DFA, the wealth of financial opportunities available through Huobi’s asset listings has received significant attention recently. After reviewing previous new-asset mining projects, many investors noticed that Huobi has been seeking out and providing benefits for its community, whether it pertains to annual yield or event rewards. 

According to the data from the first round of the Primepool event, 3,256 users spanning 79 countries participated. Many investors believe that the crypto market still offers potential, as newly-listed tokens are attracting a high number of users and driving the price rise of HT despite the downward trajectory of Bitcoin prices since the end of May.

Ciara added, “When selecting partners for token listings from a large number of candidates, we look for quality to ensure our users will not only be able to participate in the development of a high-potential project but also enjoy the financial benefits as well.”

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Disclaimer: This is a paid post and should not be taken as investment advice.

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