Huobi Pro announces launch of Davinci Coin (DAC) on their platform

Huobi Pro announced that Davinci coin (DAC) will be launched on HADAX today. According to their announcement, DAC tokens can be deposited on the platform from 14:30 June 25, 2018 (GMT+8). The newly added digital currency can be traded using the following pairs on the cryptocurrency exchange, DAC/BTC, DAC/ETH.

Trading for DAC will start from 15:00 June 26, 2018 (GMT+8) onwards. Users can withdraw their tokens from 14:30 June 27, 2018 (GMT+8). Huobi Pro recently announced the launch of Waves (WAVES) on their platform. The coin started trading in the New Zone from June 21^st in the following trading pairs: WAVES/BTC and WAVES/ETH.

See Also: Huobi, world’s leading digital exchange, to start operations in Australia

The Davinci project was started with the aim to promote private sector exchanges between Korea and China. The 4^th generation Blockchain technology company is focussed on creating tools to enable more reliable credit evaluation. They want to create a fast, secure, highly efficient and streamlined billing system. With this system, they aim to break boundaries set by national currencies and strengthen global trade. Moreover, they wish to address the complexities in financial and account ledger verification using this billing system.

The project will use a Blockchain in several fields like culture, credit investigation, insurance, finance, Internet of things, etc. They plan on tokenizing these in an effort to optimize and modify the issues that plague these fields. The Davinci coin, their native digital asset will be used as a mode of payment in the Davinci ecosystem.

See Also: Huobi’s Cryptocurrency Market Index added to Bloomberg Terminal

Along with the launch, Huobi Pro also mentions that 200,000 DAC tokens will be distributed among HT holders via airdrop. This also includes HT which are held through HB10 shares. HADAX will take into account the HT assets in each user’s account via snapshots and perform the airdrop. Huobi Pro announced the news in a tweet saying,

#Airdrop of 200,000 $DAC will be divided across HT users (inclusive of HT held via HB10 shares) proportionately according to their HT holdings.@DavinciFoundat1 #Huobipro #Hadax

— Huobi Pro (@Huobi_Pro) June 25, 2018

Based on their HT holdings, HADAX will divide the 200,000 coins proportionately among HB10 holders and HT holders. The beneficiaries will receive the tokens in their HADAX trading accounts within 7 days of the snapshot being taken.

Image via Shutterstock

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