Announcement on Stopping &quotHold NEST/NHBTC to Win ETH&quot and Starting &quotStake NEST/NHBTC to Earn ETH&quot

 New Listings    |      2021-01-21

Dear users,

According to the latest plan of NEST, the reward distribution rules for NEST/NHBTC holders will be adjusted from "Holding" to "Staking". After the adjustment, the weekly rewards of NEST/NHBTC holders will be related to the staking amount and cycle.

Huobi Global will support the staking of NEST and NHBTC. The rules are as follows:

1. Stop "Hold NEST/NHBTC to Win ETH"

The airdrops of NEST/NHBTC based on the snapshot taken at 12:00 (UTC+8) every Friday have been canceled.

Users can normally deposit and withdraw NEST/NHBTC from 11:15 to 12:15 (UTC+8) every Friday.

2. Start "Stake NEST/NHBTC to Earn ETH"

      1. How to Participate: (First round will start at 10:00 UTC+8 on January 22, 2021, please stay tuned)

  • WEB: Click on the homepage navigation bar [Wealth Management-Pool Savings], select [NEST] or [NHBTC] Locked Staking.
  • APP: Click on the homepage function [Yield Farming], select [NEST] or [NHBTC] Locked Staking.
  1. Staking Cycle: Every Friday 10:00 - Next Thursday 24:00 (UTC+8)

Users can participate in NEST/NHBTC staking after the start of the staking cycle (early termination of the staking is not supported). The staked assets will be automatically unlocked and distributed to users' Exchange accounts after the end of the cycle (24:00 next Thursday).

  1. Calculation Rules: (Take one round of NEST/NHBTC as an example)
  • ETH rewards received by User A = average daily earning rate * amount staked by User A * staking cycle
  • Average daily earning rate = total ETH rewards received through on-chain staking / total amounts staked by all users / 7 (days)

Note: If the user stakes before 14:00, the staking day will be counted as 1 day to be credited to the staking cycle; if the user stakes after 14:00, it will be counted as 0.5 days.

Reward distribution:

Staking rewards of each round will be distributed to users' Exchange accounts within 3 working days after the end of the cycle.

Learn More:

Huobi Globalreserves the right to the final interpretationof these rules. Thanks for your support!

Huobi Global                                                                                                                                            January 21, 2021