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HTX Kickstarts Its 12th Primevote Event: 15 Projects Battle for Exchange Listing

by BSC News

June 14, 2024

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The project with the most votes in the final phase wins the listing. Rewards for participants are distributed based on their voting proportion.

HTX launched the 12th edition of its Primevote event, where 15 projects are set to compete for a coveted listing on the HTX platform. Primevote empowers HTX users to vote for their favorite projects using “Rockets,” which are based on their average asset balance. 

The project with the most votes will win a listing on HTX.

Voting Rules and Mechanics

Primevote utilizes a unique voting mechanism based on “Rockets.” Each Rocket represents a vote, calculated from the user's 30-day average asset balance in USDT within their HTX account. 

 

For instance, if a user maintains an average balance of 100 USDT over 30 days, they will receive 100 Rockets. These Rockets serve as virtual votes that do not freeze any assets, allowing users to continue their trading and staking activities uninterrupted.

 

Participants can check their Rocket values on the Asset page of the HTX platform. Users can deposit more funds or purchase high-quality assets like $HTX, TRX, BTC, and ETH to increase their Rocket values. Holding these assets can boost their Rocket values due to multipliers applied to specific assets.

 

Learn more about the voting rules here.

Voting Periods and Phases

The 12th Primevote event is structured into distinct phases to ensure a fair and competitive process:

 

  • Warm-up Period (June 13, 12:00 UTC - June 18, 12:00 UTC): This phase allows projects to promote themselves and encourages users to prepare for voting. A snapshot of users' Rocket values is taken at the start of this period.

     

  • Group Phase (June 18, 12:00 UTC - June 20, 12:00 UTC): Projects are divided into two groups, A and B. Users vote for projects within these groups over 48 hours. The top two projects from each group advance to the finals.

     

  • Finals (June 20, 12:30 UTC - June 21, 12:30 UTC): After a brief reset period, the votes are cleared, and the final phase begins. All projects start from zero votes, and users vote again for their favorite among the top four projects. The project with the most votes at the end of this phase wins the listing.

Group and Final Phases

In the group phase, users vote over 48 hours. The top two projects from each group proceed to the finals. Votes for projects and users are reset for the final phase, starting fresh competition among the four finalists.

Rewards and Incentives

The Primevote event offers substantial rewards for participants based on their voting activity. The winning project secures a listing on HTX, and voters are rewarded proportionally to the number of votes they cast for the winning project. 

 

Individual rewards are capped at 50,000 USDT. If a participant's calculated reward exceeds this cap, the excess is redistributed among other winners. Rewards are credited to users' spot accounts within seven working days after the event concludes.

Good Luck Prize

Participants also stand a chance to win the Good Luck Prize, constituting 1% of the event's total prize pool. This prize is determined by a lucky draw using TRON block hash values. Participants who cast 100 votes during the final phase will be eligible for the draw.

Lead Voters and Followers

Primevote introduces a strategic layer through the concept of lead voters and followers. Participants can choose to become lead voters, amassing followers who delegate their votes to them. 

 

Lead voters' votes are counted first, followed by their followers' votes, based on the voting time of each follower. This system allows for strategic alliances and boosts the impact of votes.

 

Lead voters can apply if they have more than 10,000 Rockets at the event's start. Followers cannot change their lead voter mid-event, ensuring stability in voting blocs. If a lead voter does not have any followers or delegated votes, they can revoke their lead voter status.

Competition Rules

Voting and Groups

In the group phase, users vote over 48 hours. The top two projects from each group proceed to the finals. Votes for projects and users are reset for the final phase, starting fresh competition among the four finalists.

Final Showdown

The finals will commence 30 minutes after the group phase ends and will last for 24 hours. Regardless of group phase participation, all projects in the finals start with zero votes. The project with the most votes at the end of the finals wins.

Project Highlights

The 15 projects participating in the 12th Primevote event include:

 

These projects will undergo rigorous voting, with the community deciding which one will secure the HTX listing.

Strategic Voting

Participants can boost their vote count by using the "Share to Boost" feature. By inviting friends who meet specific criteria, users can double their vote count. The lead voter's Rocket snapshot votes can be boosted but not the delegated votes from followers.

 

Lead voters without followers can revoke their status. Followers, once they choose a lead voter, cannot change their status mid-event. Each lead voter can have multiple followers, and the maximum number of delegated votes is 50,000,000. 

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

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