The Huobi Token (HT) is an ERC-20 token developed on the Ethereum blockchain by cryptocurrency exchange Huobi Global. Short for Huobi Global Ecological Token, the decentralized digital asset HT is used within the Huobi platform and has multiple applications within the overall Huobi ecosystem.

The HT token has a limited total supply of 500 million and is offered as a reward to users of the Huobi platform. It is a digital asset based on Ethereum that functions and powers Huobi's loyalty point system.

Huobi Token holders who use the crypto exchange receive special discounts and access to exclusive events and can even contribute their thoughts on some proposals. In addition, the native digital asset is also used for independent promotions taking place on the Huobi exchange.

As one of the top centralized crypto exchanges in the world, Huobi's backing for the HT token has helped it feature among the top 50 cryptocurrencies by market cap. Huobi Global Exchange offers its customers an opportunity for higher engagement with the brand using the HT token.

The Huobi Token (HT) has several use cases, some of which are listed below:

Special Offers in Huobi Exchange

HT token holders and exchange users receive special rebates or VIP discounts when using the platform to trade crypto assets. In addition, they enjoy early access to exclusive Initial Exchange Offering (IEO) events.

Huobi users who hold HT cryptocurrency receive crypto rewards of sub-tokens, over-the-counter (OTC) legal service, and access to an ecological trading zone.

Use Within Huobi Ecosystem

The HT token can also be deposited to avail of several other benefits, including access to Huobi Cloud, Huobi NEXT Voting, a listing of project teams, endorsers, and more.

The HT token also serves as a mode of payment to community service providers, incubators, top 10 mining pools on the Huobi platform, and more.

Crypto Asset to Trade and HODL

Users can also buy or sell HT crypto, trading it against other digital assets. You can also invest in the Huobi Token and hold it long-term if you believe in the potential of the Huobi project. Check Huobi Token's price, HT market cap, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on HT price action before placing a new trade in the market.

Earn Passive Income

In addition to receiving rewards for holding HT whenever Huobi buys back tokens from the market, you can also grow your crypto holdings by investing in HT. Use the Huobi Earn feature to earn attractive APYs and increase your HT holdings.

Huobi developed the HT crypto with a limited total supply of 500 million at launch. Of these:

⦫ 100 million tokens were kept aside for user rewards and platform operation,

⦫ 100 million were reserved as team incentives with a four-year vesting schedule with 25 million getting unlocked each year, and

⦫ 300 million HT tokens were given away for free as add-on benefits for customers buying point cards.

Huobi plans to use 20% of revenues earned through Huobi Contract to buy back HT crypto from the market and burn the tokens. Such a move will increase the value of the remaining circulating supply of the cryptocurrency, supporting the Huobi Token price.

In addition, the crypto exchange will also use 20% of the revenue earned from Huobi Global for the same purpose. The funds will be used to repurchase and destroy HT tokens from the market.

Huobi conducts regular token buybacks from the market, effectively reducing the circulating supply of the Huobi Token and increasing the HT token price by destroying these tokens. Since its launch, the Huobi Group has conducted these events quarterly, utilizing 20% of revenues earned from Houbi Contract and Huobi Global to repurchase and destroy its native cryptocurrency.

The company publishes reports on the buyback program detailing the breakdown of the exercise. To improve transparency in its operations, these quarterly buyback reports contain information on the HT cryptos latest circulating supply, the number of tokens locked and the applications where they are locked in, and a summary of its various use cases.

HT token holders receive proportionate sub-token rewards after each of the seasonal buybacks is concluded. The process allows the exchange to drive higher engagement within its community of token holders while helping it increase the value of its ecosystem token in the market.