Huobi Token price

HT

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Leon Li is the founder and CEO of Huobi Group. Having graduated from Tsinghua University (Department of Automation), he became a proponent of Bitcoin in 2011. Li began his career as a computer engineer at Oracle, the world's largest database provider. In 2013, he founded Huobi Group, took over the management of the company and transformed it into a leading global player in the provision of financial services in the field of digital assets.

Jun Du is Huobi’s co-founder. Prior to his role at Huobi, he was a community operations director at Comsenz and worked at Tencent. In addition, Du serves as CEO at Node Capital (a venture capital firm with a focus on the blockchain industry), is the founder of Jinse (a blockchain service platform integrating industry news, market information and data) and is co-CEO at BiKi.com (a software provider for digital currency trading). Lastly, he has co-founded companies that include AToken and Chainup.

In 2018, the founder of Crypto Chain University, Herbert Rafael Sim, joined the Huobi Group team. Sim has an impressive track record and has contributed to the development of Forbes, The Huffington Posts and Wardrobe Trends Fashion. At Huobi, Sim is responsible for digital marketing and serves as public relations director.

The Huobi Token has two main functions. First, the Huobi exchange uses HT for its loyalty program that rewards members with a range of discounts. The company has also decided to use HT tokens to confer voting rights on users of the Huobi Autonomous Digital Asset Exchange (HADAX).

To fulfil these functions, Huobi has attempted to keep HT’s value reasonably stable. To curb inflation, the company allocates 20% of profits for a token buyback program.

HT token holders have several advantages thanks to the token’s circulation, which include:

The launch of Huobi Token took place at the beginning of 2018 and did not proceed according to the standard ICO scheme. To begin with, Huobi distributed HT tokens directly to VIP users and regular traders could buy a package of services with a certain amount of tokens. As distinct from an ICO, this method of distributing coins is called an initial exchange offering (IEO).

Huobi Token has a limited total supply of 500 million. After its launch, 60% (300 million coins) were allocated among the users of the exchange and the company kept aside 40% (200 million coins) in reserve.

The decision to create its own token led to an increase in the exchange’s capitalization. The token also helped to encourage users to remain loyal to the platform by offering them exclusive advantages through its various functions.

The Huobi ecosystem uses a distributed architecture and anti-DDoS protection system to bolster security. In addition, 98% of the currency is stored in a multisig cold wallet. The exchange also uses a risk control system dubbed “Don’t Be Evil” to ensure the safety of users’ accounts and assets.

Since 2018, the platform has used an asset protection system called the Security Reservation Mechanism. In parallel, Huobi also launched its Investor Protection Fund in January of that year. Thanks to these measures, HT holders are insured against financial losses that may arise as a result of fraudulent activities or other risks associated with cryptocurrency trading.

The easiest way to acquire Huobi Token is to purchase it on Huobi Global. The exchange supports a large number of token trading pairs and offers advantageous trading rates. Aside from this option, HT is supported on multiple exchanges, including: Gate.io, KuCoin, Binance JEX, AscendEX (Bitmax), LBank, ProBit Global, 0x Protocol, Bit Well, XT.COM, Wootrade, CoinEx, ACE, BitMart, Xtheta Global, BitZ, BiKi, BiONE, Bitay, Pionex, Hoo, YunEx, BKEX, ZBG, Bibox, Hotbit, MEXC, BitForex, HitBTC, Finexbox, Switcheo Network, Hotcoin Global, Tokenlon, Dsdaq, Bgogo, Anyswap, NUT MONEY.

To find out more, read our dedicated guide on how to buy cryptocurrencies in general.

Read about Binance Coin (BNB) and KuCoin Token (KCS).

What is an initial exchange offering (IEO)? Learn more with CMC Alexandria.

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