Token

Burn

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  <p><strong>The recent burning of a massive amount of Huobi Tokens boosts users’ trust.</strong></p> 
  <h2 style="text-align: center;" id="token-burning-boosting-user-confidence">Token Burning: Boosting User Confidence</h2> 
  <p>In the second quarter of 2023, Huobi, a Hong Kong-based cryptocurrency exchange, implemented a groundbreaking strategy to burn a record-breaking number of Huobi Tokens (HT). <a href="https://www.huobi.com.gt/support/en-us/detail/104943393179570?fbclid=IwAR0dwvBWtjfOPffAj0isfWvV3jqyLnTLNXp8vk4EFSBpktz3iWWsat9JEds" target="_blank" rel="noopener noreferrer nofollow">This move</a> has significantly enhanced user confidence and garnered overwhelming support from the HT community.</p> 
  <blockquote class="twitter-tweet"> 
   <p dir="ltr" lang="en">2023Q2 <a href="https://twitter.com/search?q=%24HT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$HT</a> Quarterly Burn: 1.95M tokens🚀</p> 
   <p>A staggering 135.72% increase compared to Q1.</p> 
   <p><a href="https://twitter.com/hashtag/Huobi?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Huobi</a> <a href="https://twitter.com/hashtag/HT?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#HT</a><br> Detail：<a href="https://t.co/DRon7FPpry" rel="noopener noreferrer nofollow">https://t.co/DRon7FPpry</a> <a href="https://t.co/r3V1SPcz8r" rel="noopener noreferrer nofollow">pic.twitter.com/r3V1SPcz8r</a></p> 
   <p>— Huobi (@HuobiGlobal) <a href="https://twitter.com/HuobiGlobal/status/1680115378696130562?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 15, 2023</a></p> 
  </blockquote> 
  <p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
  <h2 style="text-align: center;" id="record-breaking-token-burn">Record-breaking Token Burn</h2> 
  <p>Huobi has burned an impressive total of 298,940,224 HT tokens as of July 15th, 2023. During Q2 2023 alone, 1,950,555 HT were burned, contributing to a remarkable quarterly deflation rate of 0.9066% in HT circulation. Currently, there are 201,050,000 HT tokens available, with a circulating supply of 159,153,756 HT tokens.</p> 
  <h2 style="text-align: center;" id="transition-to-quarterly-burning-cycles">Transition to Quarterly Burning Cycles</h2> 
  <p>Listening to user feedback, Huobi has decided to enhance transparency by transitioning from monthly to quarterly burning cycles. This change aligns with industry standards and ensures that Huobi will disclose the total amount of HT burned in the previous quarter on the 15th of the first month of the subsequent quarter.</p> 
  <h2 style="text-align: center;" id="token-burning-mechanism">Token-Burning Mechanism</h2> 
  <p>Huobi adopts a token-burning mechanism where 20% of the exchange’s income is allocated to destroy tokens. This income includes trading fees from spot, futures, over-the-counter (OTC) transactions, interest on margin loans, withdrawal fees, and revenue from other services. This strategic approach strengthens the value and scarcity of HT tokens, further benefiting the HT community.</p> 
  <h2 style="text-align: center;" id="partnerships-for-growth">Partnerships for Growth</h2> 
  <p>Huobi has formed a promising partnership with the Hong Kong Virtual Assets Consortium (HKVAC). This collaboration aims to bolster Hong Kong’s position as a global leader in virtual assets and digital finance. HKVAC focuses on enhancing security risk management skills, thereby fortifying Huobi’s operations and instilling greater confidence in its users.</p> 
  <h2 style="text-align: center;" id="continued-commitment">Continued Commitment</h2> 
  <p>Huobi remains confident in the future of HT and <a href="https://walletinvestor.com/magazine/huobi-and-okx-gain-ground-as-binances-crypto-dominance-declines" target="_blank" rel="noopener noreferrer nofollow">its position</a> within the crypto industry. The unwavering support from its community has been instrumental in its success. With a steadfast commitment to transparency, continuous improvement, and expansion, Huobi strives to meet the evolving demands and expectations of its customers.</p> 
  <h2 style="text-align: center;" id="summary">Summary</h2> 
  <p>Huobi’s token burn strategy, including the record-breaking burn in Q2 2023 and its commitment to transparency, has significantly boosted user confidence in Huobi Token. Through strategic partnerships and dedication to innovation, Huobi is well-positioned for the future, earning support from the crypto community.</p>
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Huobi’s Token Burn Strategy Boosts User Confidence in Huobi Tokens

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