Huobi Logo. Source: huobi

This article provides an assessment of the Hadax to Huobi listing model and then provides an analysis as to Matrix’s chance of being listed on Huobi Pro.

As you all know, due to the tremendous support from the Matrix community, Matrix came third place in the Hadax voting and as of the 10th of May, MAN has been trading on Hadax.

Hadax currently serves as the launching board for a lot of projects before they get listed on Huobi, allowing startups to establish themselves before getting listed on Huobi Pro.

Huobi has a list of conditions that a token must fulfil before it will be transferred from Hadax to Huobi Pro, these conditions are shown below, with an assessment of Matrix’s fulfillments of those requirments.

Requirements to transfer from Hadax to Matrix:

1. Token has been listed on Hadax for at least 20 days:

HADAX Matrix[MAN] listing announcment

As we can see from the HADAX’s listing announcement above, MAN was listed on the 9th of May. As of today Matrix has been trading on HADAX for 56 days, well above the required 20days.

2. Both the average trading volume and number of traders should be equal to or above those of the top 50% of coins on Huobi Pro

There are 250 coins listed on the Huobi Pro exchange, this listing condition requires that for a coin to transfer from Hadax to Huobi Pro it should have trading volume and number of traders greater than the top 50%. Meaning that Matrix should rank within the top 125 coins by number of traders as well as total volume.

At the moment, Matrix’s current volume puts it easily within the top 50% of coins on Huobi Pro.

Matrix Ai Network Market Profile: 04/07/2018 Source: coinmarketcap.com

Huobi Pro Market Profile Rank 111–125: 04/07/2018 Source: coinmarketcap.com

3. The average trading volume and number of traders should be ranked within the top 2 of Hadax

Matrix has been ramping up marketing and hence there has been a steady increase in the traded volume across most exchanges. In this case, Hadax volume is the most important and we can see from the figure below that volume has been on a constant incline for the past fee weeks.

MAN Daily Volume Bars. Source: hadax.com

HADAX Active Markets: 04/07/2018 Source: coinmarketcap.com

Using the volume profiles from the image above we can also establish the top three coins by volume as:

HADAX Top 3 Coins By Total Volume: 04/07/2018 Source: coinmarketcap.com

Matrix is currently ranked third, trailing behind Seele, which has about USD 400,000 more volume. Currently there is no way of knowing the total number of traders for a particular coin listed on Hadax, but it can be assumed that number of traders and volume are parallel.

4. Projects should meet the standards of Huobi Pro’s SMART-Chain Evaluation model

The Smart-Chain Evaluation Model developed by Huobi is a quantitative model used to evaluate blockchain assets currently in the market. Huobi uses this model to weed out the good projects from the bad ones.

The system uses the following structure:

Huobi SMART CHAIN Evaluation Model Structure. Source: huobi.pro

Based on this model it is highly likely that Matrix will score well, Matrix is a technologically sound project, with a phenomenal team behind it, not to mention the various government and non government partnerships.

Matrix has also received the approval of super nodes such as FBG Capital, Bitmain and DraperDragon Innovation Fund.

Final Thoughts

Matrix community members are always pushing for MAN to be listed on larger exchanges, and this is our opportunity, we all need to come together and help Matrix get listed on Huobi Pro.

From the analysis above we can see that Matrix is well on the track to be able to move forward into being transferred from Hadax to Huobi Pro.

Matrix fulfills 3 of the 4 conditions requried to transfer from Hadax to Huobi Pro, with the only remaining condition being to rank within the top 2 by volume and traders within Hadax.

Over the past few weeks Matrix’s trading volume has been rising steadily, gaining ranks within Hadax, but this is still not enough as Matrix is still only ranked number three and with the help of the community Matrix can easily rank top 2 within Hadax based on volume profile. So as a way of encouraging more community members to participate and trade MAN tokens, Matrix has announced the ‘Hadax Contest’, allowing the first 10,000 people who buy and sell 100 MAN tokens on the Hadax platform to have the chance to grab a share within a 200,000 MAN prize pool!!!

The competition runs from july 4th at 14:00 until 14:00 of july 11 (gmt +8) So open up a Hadax account and start trading!!!!!!