What is Huobi Token?
Huobi Token (HT) is an ERC-20 Token that was issued by Huobi on January 22nd 2018. Out of the 500 Million tokens that were created 60% of HT were issued by an airdrop to Huobi.Pro users, 20% of HT are held by Huobi to support the exchanges operations and promotions, with the remaining 20% of HT held by Huobi for future incentive with a four year vesting freezing period.
How can I use Huobi Tokens?
There are currently four ways to use Huobi Tokens, with potentially more ways to come in the future. The current ways to use Huobi Tokens are:
1. The best way to use Huobi Tokens is to vote with them on HADAX to receive free reward airdrop tokens from winning HADAX listings. Token Holders can use Huobi Tokens to vote on tokens to be listed on Huobi HADAX (Huobi Autonomous Digital Asset Exchange) and earn reward tokens as an incentive. Upcoming Tokens are listed on HADAX for user voting, giving users the chance and freedom to decide what is listed on HADAX. Tokens which achieve a winning vote are listed on HADAX for trading in BTC and ETH pairs.
Each month users can vote with their Huobi Tokens and help decide which tokens will get added to HADAX. Some Tokens that are available for voting may offer incentives for voting such as a Token reward for user votes where a user may vote with a Huobi Token and if the project obtains a winning vote on HADAX the user would receive both their Huobi Token and the incentive Token back as a reward. By voting on certain winning projects users can increase their token holdings while retaining their Huobi Token investment.
The three tokens with the highest votes win each round. The top two projects currently in the voting stage (As of May 3rd 2018) are Themis (GET) and PromotionChain (PC) which have a reward ratio of 1:0.02 and 1:0.16 Huobi Tokens to Incentive tokens respectively. This means that if you vote on Themis (GET), and Themis wins the voting round, you will receive 0.2 Themis (GET) Tokens for each Huobi Token you use to vote. If you vote with 100 Huobi tokens you will receive 2 Themis Tokens as a reward. If you use 100 Huobi Tokens to vote on PromotionChain (PC), and PromotionChain wins, you will get 16 PromotionChain Tokens as a reward.
If a project does not win in the monthly round, the users Huobi Tokens are either refunded or reinvested in the next round of voting, depending on what a user wishes to do. If a user wishes to get their Huobi Tokens back during voting they may cancel their vote at anytime during the vote. In any scenario users are guaranteed to receive their Huobi Tokens back. Huobi Tokens are never spent or lost when voting.
2. Huobi Tokens (HT) allow users to receive a discount on trading fees on Huobi Pro. The trading discount is done through VIP discount packages which can be purchased using Huobi Tokens (HT). The VIP discount is valid for one month (31 days). There are five levels of discounts ranging from VIP level 1 to VIP level 5 with 10% to 50% discounts respectively. VIP 1 costs 120 HT tokens, VIP 2 costs 600 HT tokens, VIP 3 costs 1200 HT tokens, VIP 4 costs 6000 tokens, and VIP 5 costs 12000 tokens.
3. Huobi.Pro users can hold HT tokens in their account in order to periodically take part in HT exclusive events and receive airdrops of newly launched coins on Huobi.Pro.
4. Huobi Tokens have a market value and can be traded against other trading pairs such as USDT/HT, BTC/HT, and ETH/HT.
How does Huobi use the Tokens?
Every seasonal quarter Huobi buys back a portion of HT tokens from users off of the market and holds them in a “User Protection Fund” in order to reimburse users for emergencies such as hacks. These funds act as insurance towards your deposits on Huobi Pro.
Where can I get Huobi Tokens?
You can buy Huobi Tokens (HT) on the open market on Huobi.Pro. Get Huobi Tokens today and use them to receive trading discounts, hodl them, trade with them and vote with them on HADAX! Please use this link to get started:
http://bit.ly/2HGWw3x
