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   287

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 OTC May Use Alipay & WeChat Pay Logos Illegally

As reported by 8btc, Alipay and WeChat Pay noted their logos used by Huobi OTC illegally
29 January 2019   248

The Chinese electronic payment systems Alipay and WeChat Pay have demanded that the management of the Huobi should remove their services from the payment methods on the over-the-counter (OTC) trading platform This is reported by the 8btc.

In a letter, Alipay and WeChat Pay noted their logos are placed on Huobi OTC illegally, and they themselves do not support cryptocurrency trading and do not provide services to companies in this industry.

According to a source, the payment systems did not provide Huobi with a payment interface, but the platform helps users receive QR codes from WeChat Pay and Alipay, making it easy to exchange fiat for cryptocurrency.

In turn, the Huobi Group denies receiving letters from payment systems. In August 2018, the payment unit of Alibaba Ant Financial strengthened measures to monitor merchant accounts and regular users, as well as sites that integrated the Alipay payment gateway for OTC trading cryptocurrency.