Huobi Global, a cryptocurrency exchange, has launched Primepool, a digital asset mining platform.
Primepool aims to provide users with a simple way to contribute to the ecological growth of freshly listed crypto projects.
Offerings from Primepool
Primepool is built on Huobi’s past “New Assets” and “DeFi Mining” efforts. Staking assets on Primepool allows users to participate in asset-locking activities and earn benefits.
Ciara Sun, Huobi Group’s Vice President of Global Markets, explained how Primepool can assist individuals wishing to get in on the ground floor. “Primepool, as a safe and reliable mining platform, allows users who are interested in the project to participate in its ecological development with a low barrier of entry, resulting in higher wealth effects,” she explained.
Exposure through lending
Many premium projects have surfaced in recent years, but many traders have been unable to access them, according to Sun. She intends to show Primepool that the market “is not just for those with enormous investment expenditures.” Sun also feels that it will improve inclusivity in the crypto field while also assisting in the development of a sound ecosystem.
The announcement highlighted this prospect by naming DeFine as one of the first projects to be listed on Primepool. For web 3.0, the unique NFT-based decentralized social network aims to make social interaction, engagement, and communication easier for creators. It makes use of a DFA token that is inherent to the platform.
Huobi offers a variety of services.
Huobi’s new service arrives at an opportune time, given the services it has had to discontinue in China. Huobi revised its user agreement last month, adding China to the list of countries that are barred from utilizing its derivatives trading services. Huobi has decreased the amount of leverage available to Chinese customers, prompting this upgrade.
Huobi, in particular, was compelled to close its Beijing office. Huobi’s company, Beijing Huobi Tianxia Network Technology Co., was dissolved on July 22. After 45 days, the company will be deregistered.