Coin of the Month - Huobi Token
As you might have noted, I have been vigorously talking about the Huobi Tokens to anyone who cares to listen. Most would wonder why, well here are a few of the reasons why it’s a must buy.
First of all, what exactly are Huobi Tokens?: HT is a point system based on blockchain distribution and management, running natively on the Ethereum blockchain with ERC 20. HT can be used in various ways, of which, the most basic use of HT is for the discount on trading fees, of up to 50 percent. This is the same with Binance (BNB). But there’s more.
Huobi Token (HT) is not an initial coin offering (ICO). Users can only get HT by purchasing ‘Point Cards’ on Huobi Pro. Point Card is Huobi’s pre-paid card for basic service charge-trading fees. 1 point = 1 USDT. For example, if you purchase the 1,000 Point Card package, is will only cost USDT 990, and you will get 1,000 HT for free.
Huobi Global will only be distributing and strictly limiting to a fixed total of 500-million HT, never to be increased. Of which 300 million will be given as gifts for purchasing Point Cards.
Each quarter, Huobi Pro will use 20% of its income to buyback the Huobi Tokens in the open market. All the HT that were bought back will be allocated to Huobi Investor Protection Fund (HIPF) in a certain proportion. The HIPF is used to protect investors’ benefits and compensate for the losses by Huobi users when risks occur in the platform, to ensure market stability and protect the interests of investors.
Transaction Fee Discount: By purchasing different levels of VIP statuses using HTs, users can save up to 50% in transaction fees.
Liquidity Protection: Each season, Huobi Pro will buy HTs on the open market to ensure sufficient liquidity and protect user interests with 20% of Huobi Pro’s transaction fees earned during that season. HTs bought by Huobi Pro will be held in the Huobi User Protection Fund, and will be used to protect users’ interests and compensate for their losses in cases of emergency.
Exclusive Events for HT Holders: HT holders will enjoy exclusive eents such as receiving tokens newly listed on Huobi Pro from time to time.
Trading Pairs: HTs can be traded in HT/USDT, HT/BTC and HT/ETH pairs.
Let Your Voice Be Heard: From time to time, HT holders have the exclusive opportunity to provide suggestions to Huobi Pro through surveys. For example, HT holders’ level of support will inform Huobi Pro’s token listing decisions as Huobi Pro applies its rigorous evaluation framework.
Let me break this down in simple English.
Huobi Points will be very attractive to whales who trade huge volumes of cryptocurrencies. Giving them discounts for trades they make on the platform. This will greatly reduce the amount in circulation from time to time.
Huobi will also buy back HTs with 20% of it’s profit from trades every quarter. Which will also go a long way to reduce the circulating supply. This is very important
You will also randomly receive airdrops of coins listed newly on huobi.pro just by hodling HTs. This is going to greatly increase the price of HTs as many people will hodl the tokens for the sake of these aidrops.
Huobi is an exchange, so it shouldn’t be difficult to get it listed and start trading. There will also be a lot of volume for these tokens as Huobi is currently the 6th Largest exchange right now by volume. This will also greatly increase the value of these tokens.
Coins mentioned in post: