Huobi Token (HT) – A value added token with many faces

May 18, 20182 Comments

We are seeing a lot of people getting tricked in the name of Cryptocurrency, there by falling to the scammers and end up getting deceived. As a social initiative, we are starting an article series about the world of Cryptocurrency there by providing you with the latest updates from various crypto currencies Project from all over the world.

Before starting ahead we want to clarify one thing that you should not use this website/ article as investment advice or endorsement of any Cryptocurrency. This is just an Educational series.

Huobi Token (HT) – A value added token with many faces

In the world of crypto currency 100’s of tokens enter market every month and only a handful turn out to be of real world use. In this crowd, Huobi Token (HT) stands out.

Huobi Token (HT) is the native token introduced by Huobi Pro (https://www.huobi.pro)  , an  international multi-language digital currency trading platform and exchange which is based in Singapore, and has offices in Hong KongKoreaJapan, Canada and the United States. Huobi Token (HT) runs natively on the Ethereum block chain and follows the ERC20 token standard.

It was introduced in the month of January 2018 with a limited supply of 500 Million units. To further enhance its value, each quarter Huobi Pro will be using 20% of its income to buyback the Huobi Tokens from the open market. The less the supply more the demand.

Now let’s check how many different ways Huobi Token (HT) can be utilized.

As a Voting mechanism

If you are in crypto world, you will be surely knowing about HADAX (Huobi Autonomous Digital Asset eXchange), HADAX is a sub-brand of Huobi Pro. Via HADAX, Huobi Pro gives power back to its users to select which coin to be listed next in its platform via a voting mechanism. And for voting you can use only Huobi Token (HT)

Here is a snapshot of how voting works in HADAX

  • List of Projects which passes HADAX benchmark gets listed for voting
  • Users can vote for tokens only using HT’s. Tokens with top votes or numbers will be to next round
  • After the final rounds the winners get listed

 

Pls Note. Once the voting ends All the HT paid for the voting will be refunded. That means you are voting for free even if your Project is a winner or not.

More rewards for Voters 

Most of the Listed Project sets up an incentive pool for the voter in order to encourage them to vote for their project. If you have voted for the winning project, there will be further airdrop from the winning team to the voted HT users. In simple terms you are voting for free and you will be receiving rewards for your votes as well if your voted project gets listed in HADAX

Fee discounts

If you have anytime traded in an exchange you will probably know how transaction charges eats away your margins. To offer a solution, to have a low trading charge you can use Huobi Token (HT) in Houbi.pro exchange. In this way you can save up to 50% of your transaction fees. Remember the golden rule “A penny saved is a penny earned!!”

As a value creator 

At the end of the day any investment is evaluated not on only its value addition but majorly in ROI as well. As of writing the article Huobi Token (HT) is trading around $2.71. If you look from ROI perspective it has created an ROI of 1.75x in just 5 months. Do I need to tell you more?

Huobi token (HT) Future

We are now in the starting phase of a new movement. And remember early adapters always enjoy the maximum benefits. With the backing of Huobi Pro a heavy weight in exchange domain and with different uses as mentioned along it is set to boom in the coming days

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.  

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  2. Muzzamil says:

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