Leon Li, the former Oracle computer engineer, co-founded Huobi in 2013. Leon Li was a Bitcoin supporter from the beginning and wanted to spread the blockchain technology and cryptocurrency to more people. Huobi now has Huobi Global, Huobi China and Huobi US. It also acquired Quick Wallet to provide convenience for its customers.
Huobi is one of the most important crypto exchanges in the world with a daily trading volume that exceeds billions of dollars and Huobi Token is the key to its infrastructure. Therefore, in this article, I will cover every important piece of information related to the Huobi Token (HT), including:
- HT Token overview.
- Tokenomics, Key metrics and Use Cases.
- Buy, earn and store the token.
- Team, investors and potential of the token.
What is Huobi?
What is Huobi Exchange?
Huobi is a global cryptocurrency trading platform providing users with spot and derivatives products. It is the second-largest exchange in the market now with a 24-hour trading volume of $3.5 billion.
Huobi exchange was founded with two core missions: To provide a safe and secure cryptocurrency trading platform for users from all around the world.
What is Huobi ECO Chain?
Launched in December 2020, Huobi ECO Chain is a public, decentralised, high efficiency and energy-saving chain. This product offers an enhanced version of Ethereum and smart contracts that can be used on this network.
It was created with the intention of supporting transactions with higher performance than other blockchains such as Ethereum Network. This is mainly due to its HPoS consensus mechanism.
Even though Heco is a relatively new project, it already has more than 124 dApps with a total volume locked (TVL) of $5.72 billion. It showcased a new infrastructure that is high in performance, low in gas fees and offers a better cross-chain user interface.
However, Heco has a long way from challenging its rival, Binance Smart Chain (BSC), which boasts a TVL of $21 billion. However, Heco is still attracting more HT usage from users for on-chain activities.
What is Huobi Token (HT)?
Huobi’s HT token is the native cryptocurrency of Huobi Global, one of the world’s most popular crypto exchanges. HT is an ERC-20 token that is used to secure the network and provides benefits for users. It also has a similar buyback or coin-burning strategy as similar to Binance Coin (BNB).
The Huobi Token is designed to improve the Huobi Exchange user experience by offering new ways for users to receive discounts on trading fees and access to new cryptocurrencies. Users can also vote on the future of Huobi Exchange.
Detailed information about HT token
HT Token Key Metrics
- Name: Huobi Token
- Ticker: HT
- Blockchain: Ethereum
- Token Standard: ERC-20
- Max Supply: 500,000,000
- Total Supply: 500,000,000
- Circulating Supply: 167,856,506
- Contract Address: 0x6f259637dcd74c767781e37bc6133cd6a68aa161.
HT Token Allocation
500,000,000 HT tokens are distributed as below:
- Point Cards: 60% for users who buy the Huobipro Point package
- Rewards & Operation: 20% used as a reward for users and operation of Huobi Exchange
- Team Incentive: 20% is held by the development team with a disbursement period of 4 years.
HT Token Sale
Huobi Token was released in an ICO event during Jan 24th – March 1st 2018. The HT ICO price was $0.66 per token and the event raised a total of 300,000,000 USD dollars.
HT Token use case
As HT is the native currency of the Huobi Exchange, its involvement in this ecosystem is massive. The token’s use cases include:
- Trading Fee Discount: Users can use HT tokens to buy VIP packages to reduce trading fees.
- Huobi Global Ecosystem Fund: HT tokens are used as funding for the development of the Huobi Ecosystem.
- Buyback Program: As per the Huobi Token buyback plan, the team will spend 20% of its revenue in the buyback event quarterly.
- Huobi Cloud Security Deposits: Applications are required to submit their HT tokens before launching on the exchange.
- Huobi Club Consumption: Users can earn and redeem HT tokens as rewards after finishing tasks in The Loyalty Club.
- Huobi Prime Participation Privilege: HT holders have chances to participate in new listings on the platform.
- Huobi FastTrack Vote-to-List: Users hold HT to be qualified for voting and support projects to be listed on Huobi Main listing.
How to buy HT token
You can buy HT on Coin98 Exchange by following these steps: exchange.coin98.com
Step 1: Connect Coin98 Extension Wallet.
Step 2: Select Uniswap.
Step 3: Choose coins/tokens for trading:
- Search HT.
- If the result does not come up, you can paste the contract of DINO into the search box: 0x6f259637dcd74c767781e37bc6133cd6a68aa161
Step 4: Adjust the amount you want to swap.
Step 5: Adjust the gas fee, then click Approve.
How to mine HT token
Mining HT is not possible.
How to store HT token
You can store HT on Coin98 Wallet by following these steps:
Step 1: At the main screen of Coin98 Wallet, click Receive.
Step 2: Search for HT token.
Step 3: Copy your HT wallet address and send HT tokens to this address.
Team, Investors & Partners
The company was co-founded by Leon Li, a computer engineer at Oracle and early Bitcoin supporter who wanted to introduce blockchain tech to more people. Another notable co-founder is Jun Du (CEO of Node Capital) and Herbert Rafael Sim, founder of Crypto Chain University with connections in media outlets such as Forbes publications like Huffington Post.
Huobi has raised $2M over 4 rounds in funding. Their investors include ZhenFund from Seed Round and NodeCapital from the ICO event.
Is HT a good investment?
Crypto is an exploding industry which means there are lots of opportunities for growth while Huobi has a lot to offer within this expanding marketplace. However, there are some notable key points you should consider before investing in the Huobi Token:
- As the crypto market grows, so do Huobi’s numbers. The company is already one of China’s top three exchanges and has a user base that spans over 130 countries in the Asia Pacific alone.
- Huobi Group recently dissolved their entities in China to become more decentralized and acquire more users around the world.
- The Huobi token has been a game-changer for the crypto exchange business as it is used to purchase premium services. It also hosts trading competitions and VIP events that are exclusive only to its users.
- Huobi ECO Chain is rapidly growing with more than 124 Dapps and a total value locked of $5.72 billion dollars.
- Huobi is the second-largest exchange in the industry with a daily trading volume of $3.5 billion dollars.
I hope you have found a lot of useful information on the Huobi Exchange Token topic today.
If you have any questions related to this topic, feel free to discuss with me in the comment section below. You can also join our community at Coin98 Community to discuss other topics that you are interested in.
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