What is PrimeVote

What is PrimeVote

HTX Primevote, also known as the listing vote event, comprises the processes of recruitment, voting, and listing. It aims to enhance platform transparency, encourage community engagement, and empower HTX users with voting rights, enabling them to use rocket values to vote for their favorite projects. Note: Rocket value is the average amount of HTX tokens a user has invested over the past 30 days. The conversion rate is 1 USDT = 1 rocket value/1 vote.

How to participate HTX PrimeVote

1. Open the HTX App and enter the NewListing

After entering the NewListing, click to vote for currency listing

What is Voting Rules

Snapshots of users' Rocket quantities will be taken at 12:00 (UTC) on October 30, 2023. The results of the snapshot will determine the number of votes each participant can have for each stage of the event.

Participants can utilize their Rockets to cast votes. 1 Rocket = 1 vote.

Each participant can choose to vote for multiple projects, with a minimum of 1 vote per project.

During each stage, each participant can cast a maximum of 10,000,000 votes, which includes both self-votes and followed votes.

All projects in the Preliminary phase are divided into Group A and Group B randomly. After the voting of the Preliminary concludes, each group's top 2 projects with the most votes will enter the Final.

Before the start of the Final, all projects' votes will be reset to zero. The four winning projects from the Preliminary phase will then compete in a voting showdown. After the voting of the Final concludes, the project with the most votes will be the winner in this round of PrimeVote.

How to became Lead Voters & Followers

Participants are free to vote for a project during the event. At the same time, a participant can choose to become a lead voter or a follower.

Each participant is supposed to follow one lead voter only upon becoming a follower. If a participant chooses to become a follower, they can delegate their votes to the lead voter.

Each lead voter can have multiple followers. While voting, votes from the lead voter will be counted first and votes from his or her followers will be counted after and based on the voting time of each follower.

If a lead voter fails to vote for the winning project, their followers will not be eligible to share the prize pool.

Changing lead voter status: If a user becomes a lead voter and has no followers or delegated votes, they can revoke their lead voter status on the event page.

Once a user becomes a follower in a round of the event, their status cannot be revoked or changed.

Users with ≥10,000 Rockets when the event begins can apply to become a lead voter.

During the event period, the maximum number of delegated votes for a leader voter is 50,000,000.

What is Reward Rules

Users who vote for the winning project during the Final will be eligible to share the prize pool. (All lead voters and their followers for the winning project are counted.) The prize pool for the event is sponsored by the winning project.

Winners can split the prize pool based on the proportion of their votes in the total votes. The more a participant votes, the more they stand to win.

Individual vote share = Number of individual votes / Number of total votes received by the project * 100%

Individual reward = Individual vote share * Prize pool sponsored by a project

Each reward winner can get a maximum of 50,000 USDT. If any of the winners are eligible to receive rewards exceeding the maximum limit after the initial reward calculation, the excess portion of the rewards will be recalculated based on the contributions of other winners who have not reached the limit. The revised rewards will then be distributed proportionally among the winners.

Rewards will be credited to winners' Spot accounts within 7 working days after the end of the event. The rewards are issued in the form of tokens. The reward amount is subject to the actual amount credited to the winners' accounts.