Huobi Token to Be Launched by Huobi Global - Coindoo

Huobi Token to Be Launched by Huobi Global

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Jan 23, 2018
3 min reading time

Huobi Global, a leading global blockchain service provider, will be launching its Huobi Token (Token Name: HT) on January 24th at 8 PM GMT+8. An estimate of 300 million token shall be issued over a period of 15 days.

HT is a token that runs on the Ethereum blockchain based on ERC20 which is built on blockchain distribution and management. HT has many uses, one of the most basic of them being for the discount of up to 50% of trading fees.

Huobi Token (HT) will not be an initial coin offering (ICO). HT can only be obtained by purchasing its ‘Point Card’ on Huobi Pro. Point Card is Huobi’s pre-paid card that can be used to pay for basic services. 1 point equals 1 USDT. For example, for a 1,000 Point card Package, the purchase cost will be 900 USDT, and you will also receive 1,000 HT for free. Points can be used to even out the trading fees.

Method of distribution:

Huobi Global will only be distributing a fixed total of 500 million HT, an amount which will never be increased.
– 60% (300,000,000 HT) – will be given as gifts with the purchase of Point Cards on Huobi Pro, over 15  days.
– 20% (100,000,000 HT) – will go to user rewards and platform operations.
– 20% (100,000,000 HT) – shall be used as team incentives. Tokens are locked for 4-years and 25-million tokens will be distributed annually.

What can HT be exchanged with

Huobi Tokens (HT) can be exchanged with USDT, Bitcoin, Ethereum on the Huobi Pro platform.

Buyback method:

Huobi Pro will allocate 20% of its profits each quarter, to buyback the Huobi Tokens in the open market. All HT that have been bought back will go into the Huobi Investor Protection Fund (HIPF) in a certain proportion. HIPF has the role of protecting investors’ benefits and offer compensation for any losses that might occur for Huobi users in the platform, thus ensuring a stability of the market and protection of investor’s interests.

As an example, if the quarterly profits of Huobi Pro is US $ 100 million, Huobi Pro will use $20 million to buyback HT consecutively over a period of time.

HT’s Value

HT enables users to buy different grades of VIP membership, which have a different trading fee percentage, of up to 50%.
HT will be available sometime in the future to be used on Huobi Global Platforms such as Huobi Japan, Huobi Korea, and Huobi Wallet.
An announcement for HT has been released by Huobi Pro, you can find more on the matter here: Huobi Pro.

Information about Huobi Global

A subordinate of Huobi Global, Huobi Pro is an innovative crypto asset exchange that offers its services to traders from all around the world. Huobi Pro is dedicated to exploring investment opportunities. They currently offer trade and investment services for almost 10 virtual assets. The Huobi Global Team has its headquarters located in Singapore.

Huobi Global is a blockchain-asset financial service provider that is available world-wide. They have provided quality service for millions of users that are located in over 130 countries. Their independent service centres can be found in many countries including Singapore, Hong Kong (China) and mainland China. Huobi and its sub-brands are on the same level with its world-leading global peer when it comes to platform technology, security risk management system, product branch line and operation and customer service.

Huobi has also developed global services with sub-brands that include: Huobi Korea Digital Asset Exchange, Huobi China News & Research Platform, and Huobi Wallet Digital Asset Management.

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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