Huobi Token (HT): Complete Guide to Utility, Governance, and Benefits in the Huobi Ecosystem

Huobi Token: Everything You Need to Know

Huobi Token (HT) is the native utility token of Huobi Global, one of the leading cryptocurrency exchanges in the world. HT was launched in January 2018 as a loyalty program for Huobi users, who can enjoy various benefits such as trading fee discounts, margin interest discounts, access to exclusive events, voting rights, and more by holding HT. HT is also used as a governance token for the Huobi ecosystem, which includes the Huobi Chain, the Huobi Pool, the Huobi Wallet, and other products and services.

HT has a fixed total supply of 500 million tokens, of which 300 million were initially distributed to Huobi users who purchased a service fee package using USDT or BTC. The remaining 200 million tokens are reserved for team incentives, user rewards, and platform operations. HT follows a quarterly burning mechanism, which means that Huobi Global uses 20% of its quarterly revenue to buy back and destroy HT from the open market. This reduces the circulating supply of HT and increases its scarcity and value.

How does it work?

HT works by providing various utility and value propositions for Huobi users and the broader crypto community. Some of the main use cases of HT are:

Trading fee discounts: Users who hold HT can enjoy up to 50% off on trading fees on Huobi Global, depending on their VIP level and trading volume. Users can also use HT to pay for trading fees at a discounted rate on other Huobi platforms, such as Huobi Korea, Huobi Japan, Huobi Indonesia, etc.

Margin interest discounts: Users who hold HT can enjoy up to 50% off on margin interest rates on Huobi Global, depending on their VIP level and loan amount. Users can also use HT to pay for margin interest at a discounted rate on other Huobi platforms.

Exclusive events: Users who hold HT can participate in various exclusive events and activities on Huobi Global, such as Prime, FastTrack, Super Rebate, Lucky Draw, etc. These events allow users to access new and high-quality projects at preferential prices or win rewards and prizes.

Voting rights: Users who hold HT can vote for their favorite projects to be listed on Huobi Global through the FastTrack program. Users can also vote for the development and governance of the Huobi ecosystem through the Heco Chain Governance Committee and the Huobi Pool Node Election.

Ecosystem support: Users who hold HT can support the growth and innovation of the Huobi ecosystem by using HT as a medium of exchange, a store of value, or a stake on various platforms and products, such as the Heco Chain, the Huobi Pool, the Huobi Wallet, the Huobi NFT Center, etc.

Who are the team behind it?

HT is issued and managed by Huobi Global, which is led by a team of experienced professionals from various fields and backgrounds. Some of the key members of the team are:

Leon Li: The founder and CEO of Huobi Group. He has over 15 years of experience in finance and technology. He was formerly a computer engineer at Oracle and a senior manager at China Minsheng Bank.

Ciara Sun: The vice president of global business at Huobi Group. She oversees the global expansion and strategic partnerships of Huobi. She was formerly a director at Boston Consulting Group and a senior analyst at Deloitte.

Du Jun: The co-founder of Huobi Group. He is also the founder and CEO of Node Capital, a leading blockchain venture capital firm. He was formerly a senior product manager at Tencent.

Robin Zhu: The COO of Huobi Group. He is responsible for the daily operations and management of Huobi. He was formerly a senior director at Alibaba Group and a senior manager at Accenture.

What are the use cases?

HT has several use cases for both individual and institutional users in the crypto industry. Some of them are:

Trading: Users can trade HT with other cryptocurrencies or fiat currencies on various exchanges, such as Huobi Global, [Binance], [OKEx], etc. HT is also supported by many wallets and payment platforms, such as [Huobi Wallet], [Trust Wallet], [Coinbase Wallet], etc.

Investing: Users can invest in HT as a long-term asset that benefits from the growth and profitability of Huobi Global and its ecosystem. HT also offers exposure to various projects and sectors in the crypto space through its exclusive events and ecosystem support.

Staking: Users can stake HT to earn passive income or rewards on various platforms and products within the Huobi ecosystem, such as [Heco Chain], [Huobi Pool], [Huobi NFT Center], etc.

Governance: Users can use HT to participate in the decision-making and governance of the Huobi ecosystem, such as voting for project listings, chain upgrades, pool nodes, etc.