Huobi is launching Xmas Referral, a 2-month promotion in the exchange’s affiliate plan with $10 million worth of prizes in Dogecoin (DOGE) and Shiba Inu (SHIB).
Summary
Xmas Referral, Huobi’s new promotion
The Xmas Referral promotion from crypto-exchange Huobi has just begun and will end on 19 January 2022.
Two months in which participants will be able to receive a daily prize pool in DOGE and SHIB, which varies depending on the number of total participants.
In order to join the initiative, the user would have to perform certain actions related to both affiliations (such as inviting friends to join, verifying the account and buying crypto) and sharing the event on social networks.
What’s more, 3 extra points can also be received by creating a short video to introduce the event and sharing it on, for example, TikTok, Twitter, Facebook, YouTube, Instagram, etc.
Once the points have been collected by Huobi, the participant is a candidate for the daily prize pool. The rewards, which are initially locked, can be claimed immediately in order to get them in the following 3 days, at midnight UTC of the same day. A day’s reward = amount of the day’s prize pool * (Your points of the day / Total points of all users of the day).
Huobi participates in Kibo Finance funding round
Yesterday, DeFi’s borderless options trading platform, Kibo Finance, closed a $1.5 million seed round.
Investors who participated include Huobi, Gate.io, Fenbushi, AU21, Genblock, Kenetic, MGNR, GSR, DFG, Bitcoin.com, David Garcia of Borderless Capital, Sandeep Nailwal (co-founder of Polygon) and Mirza Uddin (co-founder of Injective Protocol).
According to reports, Kibo’s protocol allows for the buying and selling of options on multiple underlying assets outside of Bitcoin and Ethereum, including but not limited to Doge, Binance Coin, gold and stocks.
While being the first to build on Ethereum and Polygon, Kibo Finance also offers automated pool hedging and collateral management so that liquidity providers (LPs) maximize rewards.
In this regard, Andrew Durgee, Head of Crypto and Tokenization at investor Republic, commented:
“The DeFi and crypto offerings in options trading platforms are still in its infancy and have significant limitations. Kibo Finance is a borderless experience, which means traders will have greater flexibility on a broader range of options across more blockchains and more possible underlying assets. Kibo is the future for serious traders”.
The fifth crypto-exchange in the derivatives category
Huobi ranks fifth as a crypto-exchange in the “derivatives” category, with over $20 billion in volume in the last 24 hours.
The newly launched Christmas promotion joins other promotions launched by Huobi this month.
Such as this week’s promotion, valid until 23 November 2021, with 1,200,000 GALA tokens up for grabs.
Then there’s the curious initiative from a few days ago, where Huobi Global is reportedly raffling off a trip to space to celebrate the exchange’s 8th Anniversary Grand Draw.
The prize is an actual seat on a spaceship for a trip into space, managed by an independent space travel company. The estimated monetary value of this prize is over half a million dollars and it is the first ever such initiative for a crypto company in the world.
