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About Huobi Token
Key Points
- Huobi Token (HT) is the native token of Huobi Global, a decentralized digital asset based on the Ethereum blockchain.
- HT’s value is reliant on Huobi’s reputation and other factors.
- HT was launched in January 2018 and has a total supply of 500 million tokens.
- 60% of tokens were allocated to users, and 40% were reserved by the company.
- HT has various functions, including reducing commissions, purchasing VIP-status plans, and voting on exchange decisions.
Founders
- Leon Li:
Introducing Huobi Token: Empowering the Future of Cryptocurrency
Introducing Huobi Token (HT): A Comprehensive Overview
Huobi Token (HT) is the native cryptocurrency of the esteemed Huobi Global exchange, built upon the Ethereum blockchain and adhering to the ERC-20 standard. The value of HT is, in part, contingent upon the reputation of the Huobi crypto exchange, while also being influenced by a multitude of other factors.
Delve into the intricacies of Huobi Token by exploring our comprehensive analysis of this innovative project.
Huobi Token, a relatively nascent project, burst onto the scene in January 2018, closely following the introduction of a native token by its rival crypto exchange, Binance. By possessing its own token, Huobi is empowered to devise a versatile marketing strategy, thereby attracting a influx of new users and further propelling the growth of its platform.
One of the token’s pivotal functions is to mitigate trading operation commissions on the exchange, typically deducted from users’ wallets. However, the token’s utility extends far beyond this benefit. By leveraging HT, users can acquire monthly VIP-status plans, thereby securing discounts on transaction fees. Furthermore, token holders are empowered to participate in exchange decision-making through voting, receive cryptocurrency rewards for seasonal buybacks, and gain priority access to exclusive events. Additionally, HT holders retain the flexibility to exchange the token for other cryptocurrencies at their discretion.
The Visionaries Behind Huobi Token: Unveiling the Founders
Leon Li, the visionary founder and CEO of Huobi Group, holds a degree from the prestigious Tsinghua University’s Department of Automation. He was an early adopter of Bitcoin, recognizing its potential as early as 2011. Prior to his entrepreneurial pursuits, Li honed his skills as a computer engineer at Oracle, the world’s largest database provider. In 2013, he founded Huobi Group, assuming the helm and masterfully transforming the company into a dominant global force in the digital asset financial services sector.
Jun Du, Huobi’s esteemed co-founder, boasts an impressive professional pedigree. Prior to his pivotal role at Huobi, he held the position of Community Operations Director at Comsenz and was a key player at Tencent. Additionally, Du assumes the role of CEO at Node Capital, a venture capital firm specializing in the blockchain industry. He is also the visionary founder of Jinse, a comprehensive blockchain service platform that seamlessly integrates industry news, market insights, and data. Furthermore, he shares the role of co-CEO at BiKi.com, a cutting-edge software provider for digital currency trading. Notably, Du has co-founded several other companies, including AToken and Chainup.
In 2018, Herbert Rafael Sim, the visionary founder of Crypto Chain University, joined forces with the esteemed Huobi Group team. With a distinguished track record, Sim has made significant contributions to esteemed publications such as Forbes, The Huffington Post, and Wardrobe Trends Fashion. At Huobi, he spearheads digital marketing initiatives and serves as the public relations director, leveraging his expertise to drive growth and visibility.
Unveiling the Uniqueness of Huobi Token (HT)
The Huobi Token boasts a dual functionality. Firstly, it serves as the cornerstone of the Huobi exchange’s loyalty program, offering a diverse array of discounts to its esteemed members. Additionally, the company has opted to utilize HT tokens to grant voting privileges to users of the Huobi Autonomous Digital Asset Exchange (HADAX), thereby empowering them with a stake in the decision-making process.
To fulfill these functions, Huobi has endeavored to maintain a relatively stable value for HT. In a bid to mitigate inflationary pressures, the company has instituted a token buyback program, allocating 20% of its profits towards this initiative.
By virtue of the token’s circulation, HT token holders are afforded several distinct advantages, including:
The Circulating Supply of Huobi Token (HT): A Closer Look
The inaugural launch of Huobi Token in early 2018 deviated from the conventional ICO paradigm. Notably, Huobi opted to distribute HT tokens directly to its esteemed VIP users, while regular traders had the opportunity to purchase a package of services bundled with a predetermined amount of tokens. This innovative approach, distinct from traditional ICOs, is aptly referred to as an initial exchange offering (IEO).
Huobi Token boasts a capped total supply of 500 million, with a strategic allocation of 60% (300 million coins) distributed among the exchange’s users, while the company has set aside 40% (200 million coins) in reserve.
The introduction of its native token precipitated a significant surge in the exchange’s capitalization. Furthermore, the token effectively fostered user loyalty by providing exclusive benefits and perks through its multifaceted functionalities.
The Security Architecture of the Huobi Token Network
The Huobi ecosystem is fortified with a distributed architecture and a robust anti-DDoS protection system, thereby bolstering its overall security posture. Furthermore, a substantial 98% of the currency is securely stored in a multisignature cold wallet. Additionally, the exchange employs a sophisticated risk control system, aptly dubbed “Don’t Be Evil,” which serves as a safeguard to ensure the integrity of users’ accounts and assets.
Since 2018, the platform has employed a robust asset protection system, known as the Security Reservation Mechanism, to safeguard users’ interests. Concurrently, Huobi introduced its Investor Protection Fund in January of the same year. These measures collectively ensure that HT holders are indemnified against potential financial losses stemming from fraudulent activities or other risks inherent to cryptocurrency trading.
Acquiring Huobi Token (HT): A Comprehensive Guide to Exchanges and Platforms
The most convenient way to obtain Huobi Token is to purchase it directly on Huobi Global, which boasts an extensive array of token trading pairs and offers competitive trading rates. Alternatively, HT is also supported by a multitude of exchanges, including Gate.io, KuCoin, Binance JEX, AscendEX (Bitmax), LBank, ProBit Global, 0x Protocol, Bit Well, XT.COM, Wootrade, CoinEx, ACE, BitMart, Xtheta Global, BitZ, BiKi, BiONE, Bitay, Pionex, Hoo, YunEx, BKEX, ZBG, Bibox, Hotbit, MEXC, BitForex, HitBTC, Finexbox, Switcheo Network, Hotcoin Global, Tokenlon, Dsdaq, Bgogo, Anyswap, and NUT MONEY.
For a comprehensive overview, delve into our in-depth guide on purchasing cryptocurrencies, covering the essentials and beyond.
Lower Transaction Fees: Huobi Exchange Offers a Range of Discounts
Exclusively for our esteemed VIP clients, this privileged option enables investors and traders to significantly reduce their expenditure on commissions, thereby preserving a substantial amount of funds.
Seamless Exchange Experience. The platform is dedicated to providing unparalleled convenience
Conveniently, Huobi Token can be easily exchanged and is supported as an asset in various trading pairs with numerous popular cryptocurrencies.
New Token Listings: Exclusive Rewards for HT Holders
In addition to crypto assets, users can also receive a wallet bonus.
Investor Protection Program: Safeguarding Your Assets. The tokens repurchased by the exchange are
Allocated to an investor protection fund, which serves as a safeguard to reimburse for any financial losses incurred.
Participatory Governance: Empowering HT Token Holders through Voting Rights
Shape the future of Huobi exchange and its expansive ecosystem.
Associated Resources:
Delve into the world of Binance Coin (BNB) and KuCoin Token (KCS), two prominent players in the cryptocurrency sphere.
Discover the intricacies of an initial exchange offering (IEO), demystified by CMC Alexandria.
Remain informed about the latest developments in the cryptocurrency sphere with our CMC blog, featuring timely updates on market news, strategic partnerships, and significant announcements.