Huobi Token is an internal cryptocurrency of the Huobi exchange, focused on the stable exchange development and support of the customers and investors. This virtual currency exchange is considered one of the largest both in China and in the world. Creating its own digital money based on ether tokens allows the Huobi exchange to optimize the services offered and make them more reliable for usage.
Huobi Token (HT) is an exchange based token and native currency of the Huobi crypto exchange. The HT can be used to purchase monthly VIP status plans for transaction fee discounts, vote on exchange decisions, gain early access to special Huobi events, receive crypto rewards from seasonal buybacks and trade with other cryptocurrencies listed on the Huobi exchange.
Huobi Token is designed to reduce the fees paid by its holders for trading on the platform, and is used in the point system when adding new tokens to the exchange. This token is distributed among Huobi paid VIP users. The Huobi platform provides five VIP levels for its users. The presence of the token at the exchange will not only significantly increase the platform capitalization, but also have sufficiently flexible marketing to attract new customers.
One of the benefits of holding the Huobi Token is the ability to participate in the Huobi Autonomous Digital Asset Exchange (HADAX). This is a hybrid exchange that allows its users to vote on which coins they’d like to see listed.
That voting is done with the Huobi Tokens. Huobi than conducts a minimal audit, and investment firms such as ZhenFund and Draper conduct due diligence to ensure the projects meet minimal quality standards and are compliant with any existing regulations.
Users benefit from being able to get their favorite projects listed on an exchange platform, but they benefit further by receiving free coins if the project gets listed. This provides an incentive to voting.
One scenario might see a project offering 5 free tokens airdropped for every vote they receive, and as long as the project gets listed the voters receive the airdropped tokens. If the project isn’t able to get enough votes to be listed the tokens may be returned. So, it’s a win-win for users no matter what outcome.
* Forex Rating accepts no liability for any errors in the Huobi Token Price or HT Information. For the most recent information please visit the Huobi Token official site.
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