Huobi Token (HT) is the native cryptocurrency of the Huobi Global Exchange, one of the largest cryptocurrency exchanges in the world.
Huobi Token was launched in January 2018 by the Huobi Group, the company behind the Huobi exchange.
Huobi Token primarily functions as a utility token on the Huobi exchange. Users can use HT to pay for trading fees, participate in token sales on Huobi Prime and access various premium features and benefits.
Holding HT
Huobi Token is an essential part of the Huobi exchange’s ecosystem, providing various benefits and incentives to users who hold and use HT on the platform.
By holding HT, users can receive discounts on trading fees on the Huobi exchange. The more HT a user holds, the higher the fee discounts they can benefit from.
Huobi token holders have the opportunity to participate in voting on new token listings on the exchange through the Huobi FastTrack program.
HT is integrated into the broader Huobi ecosystem, which includes various products and services such as Huobi Wallet, Huobi Mining Pool, and Huobi Global Elites.
Buybacks and burns
The Huobi Group regularly conducts buyback events where it uses a portion of the profits to purchase HT from the market and subsequently burn (destroy) these tokens. This process is intended to reduce the total supply of HT over time.
