HT Cash

sayeds1956 (53)in #new • 4 years ago (edited)

#HTCCASH #HTC #DEFI #HECO #HuobiEcochain

What is Currency Peg?

Generally Currency pegging is referred bas when a country attaches, or pegs, its exchange rate to another currency, or basket of currencies, or another measure of value such as precious Metal like Gold . Pegging is sometimes referred to as a fixed exchange rate.
A currency peg is primarily used to provide stability to a currency by attaching its value, in a predetermined ratio, to a different and more stable currencies like US DOLLAR, EURO or BRITISH POUND. When it comes to Digital assets they are generally pegged to stable coins like, USDT, BUSD, USDC and many more to provide liquidity as well as stabilize the market.

HOUBI EXCHANGE
Founded in 2013, based in Seychelles, Houbi exchange is the brainchild of Leon li. He was a student of Tsinghua University working as a computer engineer in Oracle. The company was founded in China, and expanded to south Korea, Japan, and Hong Kong. In a short span of 5 years Leon Li, led his company to become one of the biggest Chinese digital assets platform. As of March 2018, it has a trading volume of 1 billion US Dollar daily.
WHAT IS HT TOKEN
Houbi Exchange created HT token as its basic asset on Houbi ecological Chain. HT Token has the capacity to meet the growing demand of the transactions of industry if pegged with another digital asset. Keeping the trend of development alive Houbi Ecological has been ever growing and with this the exchange has introduced HTC ANCHOR CASH.
HTC ANCHOR CASH
HT Anchor cash is an experimental and innovative stable coin project. Pegging of digital assets is completely depending on the supply and demand formula of market along with a token model. And this combination has the ability to get an ideal price. It has been observed that Algorithmic stable coins have always had been pursued by investors when we talk about pegging.
Therefore, it led to the need of creating a stable coin that will not only offer lower GAS fee compared to ETH Block chain but also a has no devolution value.HT anchor cash is pegged to HT.
THE SIGNIFICANT IMPROVEMENTS:
HTC cash is project with some really significant changes to the basis protocol:
• The price manipulation is reduced by using a 12-hour weighted average price. This formula will be used with the HT-HTC pair on a DEFi Exchange.
• After every 12 hours, at 8:00 and 20:00 SGT precisely, the time of the rebase will be adjusted.
• To encourage the exchange of bonds between the platform users whilst retaining the balance, the system will issue additional token for each rebase period. The percentage of the additional tokens will be 95% unlike the traditional 100%. The remaining 5% will be stored in treasury. This will not only make it profitable and will allow user to redeem HTB bonds, in the case of price drop below 1 HT of HTC.
• The price of transaction for stable coins will reach 1.1 HT and this will support the additional issuance of token.
• With additional stablecoin mining time more HRC20 currency will be mined.
STABILITY OF HTC ANCHOR CASH
Stability is the core feature of HTC ANCHOR CASH and HTC ECHO CHAIN. Through an efficient and secure formula, the system is designed to distribute HTC among the HTS holders equally. The HTC ANCHOR PROTOCOL will have threshold set, in both scenario of token price going above or below this threshold the formula will be stimulated.
WHEN HTC IS BELOW 1 HT
If you are trading when HTC is below 1HT, the system will offer you the purchase of HTB at a discounted price. This will stabilize HTC price. However, there will be an exemption of future profits
WHEN HTC EXCEEDS 1.1 HT
As soon as the price of HTC surpasses 1.1 HT, the system will activate the bond redemption.
TOKEN DISTRIBUTION
HTC does not have any pre mining, it will be distributed equally.
There are 11 mining pool that HTC Anchor Cash is launching:
HT, HUSD, HBTC, HETH, HLTC, HBCH, HDOT, HBSV, HFIL, (assets on Heco) DEX token RAB and algorithmic stable token BAG.
A supply of 11,000 HTC will be distributed equally among these 11 pools. Each one of them will be able to mine 1,000 HTC for 10 days generating 100 HTC per day.

HTS has planned its distribution as soon HTC starts. A total of 2,100,001 will be distributed among four mining pool. It is also planned that 5% of these tokens will be issued to DAO, and early investors, and will also be used for marketing purpose and to be listed on centerlised exchange.
• HTC-HT-LP mining pool: 750,000 HTS
• HTS-HT-LP mining pool: 250,000 HTS
• HTC-HUSD-LP mining pool: 750,000 HTS
• HTS-HUSD-LP mining pool: 250,000 HTS
The aim of pooling design is to keep the price of HTC AND HT in close proximity.

THE NEXT STAGE
Like any other organization HOUBI also have future plans for HT Cash. They aim to launch a community exchange. This exchange will create a financial byproduct on the stablecoin algorithm: that is HTC is the stablecoin, and RAB is the exchange platform token to participate in governance and realize the HTC stablecoin agreement Arbitrage and extension on more HECO assets.