Huobi Price

About the coin

Huobi Token (HT) was launched by Huobi, the third-largest cryptocurrency exchange globally, to reward its users for their loyalty. The token provides benefits such as lowered transaction fees and holds its own value in tradable pairs against popular currencies. The initiative aimed to enhance the value for Huobi's millions of users, primarily located in Asian countries.

Main features

The Huobi Token follows the trend of loyalty-building tokens introduced by other exchanges, with Binance Coin (BNB) being the most successful example. HT was officially announced on January 22, 2018, and distributed over 15 days to pro users who purchased a discounted service package. This distribution was not considered an ICO, as users were buying a service package that included HT for trading fee discounts.

How it works

The HT token distribution began on January 24 and concluded on February 7, 2018. During this period, 300 million HT, representing 60% of the total supply, were distributed to Huobi Pro members. The remaining 40% of the total supply was allocated for user rewards, platform operation, and team rewards. The launch of HT was part of Huobi's strategy to recover its user base after regulatory changes in China significantly impacted its trading volume.