Endorser: An endorser is typically a well-known investment organization in the industry. Endorsers enjoy the privilege of nominating project teams to HTX NEXT. Endorsers are obliged to endorse and guide project teams to complete information disclosure and presentation.

Applying for becoming an Endorser:

(1) An endorser can submit their application via HUOBI NEXT "Endorser" page. After the application is approved, the endorser can view projects, recommend projects and complete cross evaluation on the corresponding page.
(2) Endorsers are provided with a HUOBI NEXT voting account, to which 500,000 HTs need to be deposited for voting purpose only. Once the account balance falls below 100,000 HTs, the voting power of the account will be deactivated until the accounting balance is back to 500,000 HTs or above. (4) An endorser can recommend 2 projects at most during each round.

3. Cross evaluation
(1) Endorsers conduct a cross review of all projects. All evaluations are performed anonymously on "HTX Automated Listing Platform". Based on the evaluation results, HUOBI NEXT will shortlist projects to enter the Public Voting stage.
(2) Endorsers can support, oppose or abstain in the evaluation stage.
(3) Endorsers are rated based on the performance of listed projects with the following indexes. We will upgrade and improve the rating system if necessary.
Project performance indexes include:
1. Return Index = number of tokens as voting rewards * (weighted average price - preset token price for public voting)
2. Volume Index = accumulated volume * commission rate * λ (0<=λ <=1, λ will be adjusted accordingly）
3. Composite Index = Return Index + Volume Index
Scores will be calculated as follows:
1. Score for Endorser endorsing the project = Composite Index * 0.6
2. Score for Endorser supporting the project = Composite Index * 0.4 / (affirmative votes - dissenting votes)
3. Score for Endorser opposing the project = (-1) * Composite Index * 0.4 / (affirmative votes - dissenting votes)
(4) Endorsers will be ranked regularly based on the scores, and underperforming players will be eliminated accordingly.
(5) HTX Next Operation Team will determine which projects can enter the public voting for each round according to the result of the endorsers’ cross review.

Projects which successfully enter the Public Voting platform get to showcase on the Project Center with the help of their Recommending Endorsers.