Since its launch, the Bitcoin and cryptocurrency exchange Huobi Pro which is a subordinate of the Leading Global Blockchain Asset Service Provider Huobi Group has seen tremendous growth in adoption. Today the platform ranks among the top-three best exchanges of the world.
Huobi pro provides safe, trustworthy and world class services to loyal users. To enhance these features, the chinese-based exchange launched, earlier this year, its own native token Huobi Token or HT for short. The new brand token doesn’t run on Huobi native chain, instead it runs on Ethereum-based blockchain with ERC-20.
Huobi Token is a non-ICO
In an exceptional way, Huobi Token is a non Initial Coin Offering (ICO), it is rather a point system as during the airdrop, loyal users could only get HT by purchasing point packages over the course of 15 days. In other words, in that event, the firm offered “Point Card” on Huobi Pro which is a prepaid card for basic service charge 1 point= 1 Tether (USDT). To overly simplify, if you purchase 1000 Point Card package, it will cost you USDT 990. It’s not all, the firm also offered 100% promotion.Therefore, for that 1000 Point Card package you will get 1000 HT for free.
This bonus system recorded a huge success as It is reported that all point packages were sold out in 1 minute.
Huobi pro capped a fixed total supply of 500 million HT never to be increased. 300 million HT which accounts for 60% of total HT supply are given as gifts to loyal users with the purchase of point cards. 100 million HT are reserved to support the platform operations and the remaining exchange tokens are reserved as team incentive.
Huobi Token is the major key player in building Huobi ecology seeing that it serves various functions with full intent to maintain customer loyalty in the long run.
Huobi Token: used for the discount trading fees
Huobi always puts priority on users satisfaction and endeavors to provide them with great user experience. Hence, significant discounts in trading fees are offered to those who trade using HT pairs as Huobi pro offers different levels of VIP point cards. Thus, users can save up to 50% in transaction trading fees. Traders who trade huge volumes of cryptocurrencies would get excited by offering them such discounts for trades.
Huobi Token: used to express users’ preferences
HTs holders have rights and can participate in the community decision-making for the reason that Huobi Pro gives them power through HADAX program. The program is an innovative exchange to promote creative digital asset start-ups by a voting system that use HTs. It allows users to vote for the project they want to see listed on HADAX and Huobi Pro as well.
‘Users pay to vote for free’. How does this work? Well, the HT paid during the voting is just a witness that is refunded automatically at any time after the voting. Further, the winning projects in the HADAX voting will reward HT holders with abundant token airdrops.
HADAX voting is live now . Currently, GTC is on the top. Go support your favourite token through voting and earn reward tokens as well.
Huobi Token Buyback: used to users security
Considerable efforts are made to ensure high security level. On that account, Huobi Pro has its Buyback program. The program is held each season during which Huobi Pro will buy HTs on the open market to protect user interests and liquidity as well. In more details:
Every quarter, the firm allocates 20% of Huobi Pro’s transaction fees profit during that season to buyback HTs on the open market. The aim is to compensate its users for their losses in cases of emergency. The boughtback HTs are held in the Huobi User Protection Fund. On the other hand, the initiative is a way to reduce the circulating supply. Hence,HT value appreciates .
Huobi Token: If it is useful then it is valuable
It is important to mention that Huobi is one of the leading exchange across the globe. Hence ICOs that HODL a lot of HTs in order to get listed on the chinese-based exchange are numerous. Thus, it would increase the demand for the token. As a result, its value would increase accordingly.
All in all, HT holders can either keep going long on their native tokens as they can receive airdrops of coins newly launched on Huobi from time to time or they can trade the token against other popular coins. In both cases they generate great deals.
As of late, Huobi Pro has performed exceptionally well thanks to the introduction of Huobi Token earlier this year