Huobi Token

What is Huobi Token (HT)?

Huobi Token (HT) is a token that resides on the Ethereum network and is based on the ERC-20 token standard. This is the native cryptocurrency Huobi Globalcryptocurrency exchange originally based in China.

Huobi Global integrates the Huobi token with various well-known cryptocurrencies., making replacement simple and convenient. In addition, the position of the Huobi exchange partially affects the price of the Huobi token.

Main purpose of the token reduce exchange trading commissions. Apart from this, it has other features and benefits:

• HT acts as a governance token allowing holders to participate in the exchange’s decision-making processes.
• HT can be used to get monthly VIP plans on Huobi Global, which provide users with lower transaction fees.
• HT owners can receive cryptocurrency rewards from the ransom.
• HT owners are given early access to Huobi events.
• HT owners receive coins every time a new cryptocurrency asset is listed.

To accomplish these tasks, Huobi made an effort maintain the price of the Huobi token at a fairly stable level. The corporation allocates 20% of revenue to the token buyback scheme to control inflation.

How it works? The above 20% of Huobi’s quarterly revenue is used to buy back HT, which is then transferred to current HT owners and set aside in Investor Protection Fund.

The fund provides compensation to investors when they experience monetary losses caused by possible fraudulent activity or other dangers associated with crypto trading.

In addition to this, Huobi also protects the assets of HT owners using Security redundancy mechanism. This is another fund used to compensate users. It compensates HT holders for any asset losses that are not caused by the users themselves.

In addition to the availability of funds, the Huobi crypto project takes other security measures to protect its users.

Firstly, it is used here DDoS attack protection system, which is a physical layer of protection that prevents hackers from flooding a system with traffic and sabotaging its resources. In addition, Huobi Global guarantees the security of user accounts and assets using a risk management strategy known as “Do not be evil”. Finally, 98% of HT coins are stored in cold wallet with multi-signature.

If you are interested in the current Huobi token price, you can take a look at the HT price chart above.

Founders of Houbi Group

IN 2013, Leon Li and Jun Du founded Huobi Group, which covers the entire Huobi ecosystem, including its exchange, tokens and other products. The Huobi token was only launched in 2018. At launch, the price of HT fluctuated between approximately $1.35 and $2.50. Early notes noted that it is moderately volatile.

Leon Lee has a degree in Computer Engineering. Before founding Huobi, he worked as a computer engineer at Oracle. Since its inception, Leon Lee has been an active supporter of Bitcoin. He wanted to raise public awareness about blockchain technology and cryptocurrencies.

Jun Du has extensive experience in the field of blockchain technologies. He is the founder of Jinse, as well as the CEO of Node Capital and co-CEO of BiKi.com. Additionally, he has also worked for companies such as Comsenz and Tencent in the past.

In addition, Huobi Central has also been joined by Herbert Raphael Sim in 2018 – Director of Digital Marketing and Public Relations. Herbert Raphael Sim is the founder of Crypto Chain University. He has also collaborated in the past with companies such as The Huffington Posts, Forbes and Wardrobe Trends Fashion.

The price of Huobi Token, like other crypto assets, is affected by the volatility of the entire crypto market.

Tokenomics of Huobi Token

The maximum supply of Huobi tokens is 500 million. Limited supply makes this asset anti-inflationary. Over time, the available supply will decrease, causing the price of the Huobi token to increase.

Initial coin offerings (ICOs) and cryptocurrency trading were outlawed in China in September 2017, which is why Huobi was unable to hold the HT token sale. Therefore the company carried out initial exchange offering (IEO) instead of.

In fact, VIP members of the Huobi exchange received HT tokens directly, while other traders could purchase service packages to receive a certain amount of HT tokens. Thus, 300 million HT tokens were distributed to users of the Huobi exchange. The remainder (200 million) was dedicated to operating the platform and incentivizing users, as well as the Huobi team (with a four-year vesting period).

If you are planning to buy Huobi tokens, please note that HT price may vary. The latest market performance data for the asset is available in the chart above.