Huobi Tokenholders to Support Quarterly Token Burn

19.1% of voters preferred the current distribution model of tokens, and 80.99% chose “burning” tokens
06 December 2018   248

Huobi Cryptocurrency Exchange announced the results of the vote on the further fate of the HT tokens purchased. 80% of users voted for the "burning" of coins.

Previously, each quarter, Huobi used 20% of its revenue to purchase HT on the open market with a view to distributing it further to token holders. According to the exchange's blog, Huobi decided to revise this business model due to numerous requests from users and provided an opportunity for HT owners to decide the fate of the coins.

For three days, 5,010 users cast 72,079,205 votes (one vote was equal to one HT). 19.1% of voters preferred the current distribution model of tokens, and 80.99% chose “burning” tokens.

Within five days after the end of the voting, the Huobi team promised to publish an updated plan to purchase the HT.

Huobi to Launch Own Stablecoin

The launch of the Huobi's stablecoin is scheduled for the first half of year 2019
23 January 2019   70

The cryptocurrency exchange Huobi, one of the leaders in terms of trading volumes, plans to release its own stablecoin as part of the roadmap for 2019. Reported by the Cointelegraph.

Speaking on Tuesday, January 22, at an event in Singapore, CFO Huobi Chris Lee also said that the company intends to upgrade its trading platform this year and will continue its international expansion.

2018 brought us huge challenges but I’m personally optimistic about the crypto market. I do think we’ll see things get better this year. This year will be huge for stablecoins and we will be a part of that. Likely Huobi Group will launch its own stablecoin in 2019 in the first half of the year.

Chris Lee

CFO, Huobi

He also said that the year 2019 will be “huge for the stablecoins” and the Huobi Group will be part of this process. The launch of the “stablecoin” from Huobi is scheduled for the first half of this year.

Like many other major exchanges, Huobi has already begun to support various stablecoins, and also launched a solution called HUSD, which allows the user to "switch" between the various stablecoins presented on this trading platform.