Huobi is set to launch its Prime Lite, an advanced platform for Initial Exchange Offerings (IEO). Following the roaring success of the Huobi Prime, a token launch project similar to that of Binance Launchpad, the company has decided to add to this type of venture.

On the new launch, Huobi said:

“Get ready to get even more primed! BIG NEWS! Huobi Global will launch a streamlined version of Huobi Prime soon. We call it Prime Lite! ThunderCore will be our first project,” the company announced in its Twitter account.

The Prime Lite is said to arrive on May 9th, and the first IEO project will be carried out by ThunderCore project engaged in a high throughput blockchain development. This was confirmed in a tweet by Huobi, which read:

“The first Prime Lite project will be ThunderCore (TT), and total trading allocation reserved for Prime Lite will be worth roughly 500,000 USDT. Specific project information and trading rules will be further disclosed in subsequent announcements.”

According to reports, the new platform is designed as a niche project, different from Huobi Prime in a number of critical ways, including shorter listing cycle, flexible schedule and trading allocations. Furthermore, the platform will burn HT tokens to facilitate the development.