Founded in 2013, Huobi Global is a leading digital economy company with a mission to bring blockchain technology mainstream by integrating it with other industries. It has expanded into blockchain industry, public chain, cryptocurrency exchange and wallet, digital economy research… Huobi Global is licensed for crypto services in several countries and regions jurisdictions, including the Seychelles, Japan, Singapore and South Korea.
To get an idea of how Huobi is growing, here are some of Huobi Global's milestones:
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On October 8, 2022, Huobi Global announced its acquisition by About Capital Management (HK) Limited. Leon Li, founder and CEO of Huobi, said he will no longer act as a shareholder and controller of the company. Furthermore, he made it clear that from then on he would not be involved in Huobi Global's business.
The takeover results in only a change in share ownership and is expected to have minimal impact on Huobi's business. The new owners have hinted that Huobi Global will carry out a series of efforts to promote the new global brand and expand the business, including injecting enough capital into hedge and margin funds. After the successful implementation of its programs, Huobi may be well positioned to provide premium trading and investment services to global crypto users.
The day after taking over, Huobi introduced its advisory board of industry leaders in decentralized finance (DeFi) and traditional finance (TradFi). The Board of Directors is responsible for Huobi's business development and strategic roadmap for international expansion.
Here is the official list of Huobi Global advisors:
Notably, the advisory board is poised to include more industry leaders to further strengthen its institutional presence and enhance its brand and market competitiveness.
HT is the native token of Huobi Global. HT was released in 2018 and distributed through a rewards program where Huobi users were given free tokens. Of the total 500 million supply, 300 million were airdropped to users, 100 million were reserved for platform rewards and activities, and 100 million were earmarked for team incentives. After the airdrop, HT holders can exchange their tokens for other assets on various exchanges, including Huobi exchange.
Technically, the number of HT in circulation decreases every month due to Huobi's burning mechanism. Token burning occurs when the platform buys back and destroys some HT from circulation. Huobi Global spends 20% of its monthly income to buy back and destroy HT. Specifically, 15% of the revenue is allocated to burning tokens from circulation and the remaining 5% is used to burn HT team incentive rewards. Minimizing the supply makes HT a deflationary token. It can also boost the value of HT by influencing the forces of supply and demand in the market.
HT has a maximum supply of 500 million, while the current circulating supply is 130.9 million. You can trade it on cryptocurrency exchanges, including Huobi Global, Gate.io, Uniswap, and XT.COM.
HT has many use cases. By simply holding it in Huobi wallet, you are eligible to receive up to 65% discount on trading fees, access new projects and generate more tokens through Huobi Prime platform. Huobi Prime allows investors with HT to be required to purchase newly issued assets at a discounted price before they are listed on the Huobi exchange. You can also staking your HT into Huobi PrimePool to participate in new listing activities.
The value of HT is increasing by more than 80% following the news of the takeover of Huobi Global. Justin Sun, one of Huobi Global's newly appointed advisors, announced that they will empower Huobi Tokens through brand upgrades and business partnerships, while also using HT as a strategic reserve. long-term, have increased (and continue to increase) their HT holdings, which may contribute to Huobi Token's uptrend.
This stems from the points mentioned above about the company receiving capital from the risk reserve fund and margin as well as new international brand promotion and business expansion activities.
Huobi Global has a strong influence in Asian markets, becoming one of the largest cryptocurrency exchanges in Singapore, South Korea and Japan. After being forced into exile from mainland China in 2021, after Chinese regulators banned crypto activities, Huobi Global has been fast-tracking its globalization efforts in the market environment. competitive school. This may be why the company is looking for a new share structure with an international vision and sufficient resources.
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