As one of China’s previous largest cryptocurrency exchanges, Huobi has now announced that they are releasing their very own token.
\r\nBuilt on the ethereum ERC 20 standard and entitled the Huobi Token, it will reportedly be released today (23rd January). With 500 million coins up for offer, 60% will be available to buy and 40% will be used for team incentives, user rewards and platform operation. However, Huobi have said that the token isn’t an initial coin offering. 300 million tokens will be offered at cut-price to purchasers of packages on Huobi Pro utilising USDT. Further information has not been confirmed but it has been revealed that there is a maximum total for each purchase.
\r\nThis latest news come after Huobi appear to be stabilising following China’s recent clampdown on exchanges. Founder Leon Li explained that the aim of the new system was to collect service fees while improving user experience and repeat customers. He confirmed that Huobi wants to use HT to connect investors through exchanges in the US, South Korea and Japan, whilst expanding the company overseas.
\r\nTrading HT will be available on the company’s exchange platform and BTC, ETH and USDT will be offered as pairs.
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