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Blogchain arrow-bc BitScreener Exclusive arrow-bc Huobi Token (HT): Ultrafast, High-efficiency Crypto Exchange

Huobi Token (HT): Ultrafast, High-efficiency Crypto Exchange

2 years ago Dot Mason Thompson

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Emerging as a leading cryptocurrency exchange facilitating hundreds of trading pairs and supporting multiple fiat currencies, Huobi Token particularly provides users with fee reduction and numerous special features. Let’s take a deep dive into HT!

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Overview of Huobi 

Huobi can be described as a global cryptocurrency trading platform that offers users spot and derivatives products. Huobi is currently among the largest exchange in the crypto market with a 24-hour trading volume of over $1 billion. 

The core value of Huobi is to provide a secure cryptocurrency trading platform for users worldwide.

History of HT

Leon Li and Jun Du are the founders and CEO of Huobi Group which was founded in 2013.

Huobi Token (HT) was launched in 2018 and distributed to Huobi users via a special giveaway plan.

In the same year, the founder of Crypto Chain University, Herbert Rafael Sim, joined the Huobi Group team.

Since its launch, Huobi has gained a reputation as one of the largest crypto exchanges in the world.

Currently, Huobi is supporting over 280 cryptocurrency markets, with over $350 billion worth of crypto tokens traded daily.

About HT token

Huobi Token (HT) is an exchange-based token and native currency of the Huobi crypto exchange. The token is also a decentralized digital asset that is based on the Ethereum blockchain and is ERC-20 compliant.  It also has the same buyback or coin-burning strategy as Binance Coin (BNB). 

Based on the token system issued and managed through blockchain, Huobi Token can be used inside both Huobi and in multiple scenarios of the Huobi ecosystem.

With a view to improving user experience, the Huobi Exchange provides participants with trading fee discounts and access to new cryptocurrencies. Simultaneously, users can vote on the future of the exchange.

Huobi Ecosystem

The Huobi ecosystem operates in cooperation with the following elements:

Huobi Eco Chain (HECO)

Huobi Eco Chain (HECO) is a high-efficiency, energy-saving network that is compatible with Ethereum Virtual Machine (EVM) in order to optimize operations on Ethereum. It was the first product launched by the Huobi platform with its main goal of providing users with high security and low latency.

Moreover, HECO is home to numerous decentralized applications (dApps) and Web3 protocols. Thanks to its hybrid proof-of-stake consensus mechanism, the network enhances ultra-fast cross-chain asset transmission with over 2,000 transactions per second, average block times of three seconds, and minimal fees. 

Huobi Wallet

Huobi Wallet is a non-custodial, multi-chain crypto wallet. It allows for some key crypto assets and helps users to keep track of their portfolios conveniently. In addition, Huobi Wallet enhances users’ interaction with decentralized applications (dApps) and Web3 protocols on HECO.

Features of HT

As the native token of the Huobi platform, HT is massively involved in this network with the following use cases:  

  • Trading fee discount: HT tokens can be utilized to buy VIP packages for reducing trading fees.
  • Buyback program: For each HT buyback plan, the Huobi team will quarterly spend 20% of its revenue on the buyback event.
  • Huobi cloud security deposits: Before launching on the Huobi exchange, it is essential for applications to submit their HT tokens.
  • Huobi club consumption: If users complete tasks in The Loyalty Club, they are able to earn and redeem HT as rewards.
  • Huobi prime participation privilege: HT holders stand a chance of participating in new listings on the Huobi platform.
  • Huobi vote-to-list: HT users are eligible for voting and supporting projects listed on the Huobi Main listing.

Is HT a good investment?

HT is expected to connect the ecosystem between the Huobi Global exchange and the Huobi Eco chain extension platform, allowing the integration of HT token use cases in DeFi applications. 

Besides, the value of HT token is increasingly enhanced when the token has a deflationary mechanism and the integration on many applications increases the demand for using HT, which somehow contributes to the potential upswing of this token in the forthcoming future.

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