Huobi HTX launched a new activity called Place Order Mining on June 26, which has received wide acclaim and active participation since its launch. After referring to user feedback, Huobi HTX further optimized the activity rules and now launches the second phase of place order mining. Users can place orders for BTC spot to share 32.2 billion HTX.
Innovative gameplay: snapshots every minute, profits every minute
Order mining is another innovative product launched by Huobi HTX after trading mining, aiming to provide users with a richer trading experience. According to the official announcement, the second phase of order mining will be held from 18:00 on July 10 to 18:00 on July 17 (UTC+ 8), supporting BTC/USDT spot trading pairs. During the event, Huobi HTX will randomly snapshot the orders of the BTC/USDT spot trading pair every minute, and calculate and accumulate rewards for the orders that meet the conditions for buying and selling orders according to the snapshot results. The order is valid if it meets two conditions:
Amount: Order price at snapshot time*order quantity ≥ 100 USDT limit order
Price: The difference between the pending order price and the latest transaction price (closing price) at the time of snapshot shall not exceed 0.5%
For example, assuming that the latest transaction price (closing price) at the time of the current snapshot is 60,000 USDT/BTC, and the threshold range is ± 0.5%, then the upper limit price is: the latest transaction price (closing price) at the time of the snapshot × (1 + 0.005) = 60,000 × 1.005 = 60,300 USDT/BTC; the lower limit price is: the latest transaction price (closing price) at the time of the snapshot × 1-0.005) = 60,000 × 0.995 = 59,700 USDT/BTC. Eligible orders: 59,700 USDT＜user order price at the time of the snapshot＜ 60,300 USDT.
Rule optimization: Open API for user participation, more generous rewards
Compared with the first phase of order mining, the second phase has two major rule upgrades: first, this phase of the activity is open to API users to participate; second, a new additional reward pool is added, and the total amount of basic rewards + additional rewards is as high as 32.2 billion HTX. The specific reward rules are as follows:
Reward 1: Place BTC spot orders to share 27.2 billion HTX
The reward is for all valid orders, with a total reward pool of 27,200,000,000 HTX, a daily reward pool of 3,885,714,285 HTX, and a minute reward pool of 2,698,412 HTX. All eligible orders per minute will share the reward pool in proportion to the order amount.
Per-minute order reward = per-minute reward pool * (order amount / total amount of eligible orders). For example, if the total amount of all eligible orders in a certain minute is 1000 USDT, and the order amount of user A is 100 USDT, then the reward for user A in that minute is 2,698,412 HTX * (100/1000) = 269,841.2 HTX.
Reward 2: 1/1000 of the users will share an additional 5 billion HTX rewards
Based on the above reward rules, users who place orders within 1/1000 of the buy and sell orders at the time of snapshot will receive additional rewards, with a total reward pool of 5,000,000,000 HTX, a daily additional reward pool of 714,285,714 HTX, and a minute additional reward pool of 496,032 HTX. The reward distribution method is the same as reward 1.
It should be noted that this event is limited to registered users. Users can click [Register Now] on the announcement page to participate in the event. The upper limit of the hourly reward for each person in the order mining is 90, 909, 090 HTX. The reward will not increase after reaching the upper limit of the individual mining reward or the upper limit of the prize pool.
Event details: https://www.htx.com.cm/zh-cn/support/54974923246167
As the worlds leading cryptocurrency exchange, Huobi HTX has always adhered to the user first philosophy and is committed to providing global users with safe, diverse and efficient digital asset trading services. In the future, Huobi HTX will continue to upgrade innovative activities and products such as order mining, and continuously optimize the user experience to meet the diverse needs of users.
About Huobi HTX
Huobi HTX was founded in 2013. After more than 10 years of development, it has grown from a digital currency exchange to a comprehensive blockchain business ecosystem covering digital asset trading, financial derivatives, wallets, research, investment, incubation and other businesses.
As the worlds leading Web3.0 portal, Huobi HTX adheres to the development strategy of global expansion, ecological prosperity, wealth effect, and security and compliance, providing comprehensive, safe and reliable value and services to virtual currency enthusiasts around the world.
