Huobi Token is the native token of the Huobi ecosystem. Huobi Group was founded in 2013 and has developed a range of products to encourage the use of cryptocurrencies and further blockchain technology. This includes the Huobi Global Exchange, wallet, digital economy research, blockchain, and more, as well as the Huobi Token.
The Huobi Token (HT) operates as an exchange token and as a blockchain-powered loyalty points system. It is an ERC-20 asset that was first distributed in 2018. It has a total supply of 500,000,000 HT. The number of tokens decreases every month due to Huobi’s burning mechanism.
What are Huobi Token’s key features and how does it work?
The Huobi Group comprises various products, its flagship being the Huobi Global Exchange. Users can buy, trade, and sell many cryptocurrencies online and via the mobile app. The platform also has dedicated exchanges for Japan and Korea with the Huobi Japan and Huobi Korea sites respectively.
Huobi Group also offers the following products and services:
- Huobi Pool - A mining pool where users can mine BTC, ETHm DCR, ETC and other mineable currencies
- Huobi Chat - An app that hosts private and public forums and chats to discuss everything related to blockchain
- iToken - A mobile application that serves as a crypto wallet and provides DeFi integration
- Huobi Capital - Investment arm of Huobi Group that focuses on projects within the emerging technologies and blockchain sector
- Huobi Cloud - Service that provides tools for projects to create crypto exchanges
- Huobi ECO Chain - Huobi’s own blockchain built for a range of decentralized applications
- Huobi DeFi Labs - Research branch of Huobi focused on financial theories and technology, researching and investing in the best DeFi projects
What can HT be used for?
The Huobi Token can be used to access all Huobi products, including Huobi Global business, VIP discounts, and exclusive events. In particular, holding HT in the Huobi exchange wallet entitles users to trading fee discounts of up to 65%. Additionally, HT owners can access new cryptocurrency projects via the Huobi Prime platform. Users can purchase tokens of new projects at a discounted rate, before the official listing on the Huobi exchange, by holding a certain amount of HT.
Furthermore, Huobi’s PrimePool allows participants to stake their HT and earn rewards for doing so. When new projects are listed, HT token holders have the opportunity to earn free airdrops and receive tokens from the project. Users must lock tokens for a predetermined amount of time. The amount of rewards distributed is based on the number of tokens and the period they are locked for.
HT stakers can also earn rewards by staking on the Huobi ECO (HECO) Chain. This is an EVM-compatible chain that has support for smart contracts. It features a range of decentralized applications which users can use HT to engage with.
Lastly, by holding HT, traders have the right to take part in the community-driven governance of the platform. HT owners can vote on issues such as coin listings, burning mechanisms, and other development issues related to the overall running of the platform.
Where can you buy HT?
HT is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Huobi Global, AscendEX, Gate.io, and FTX Spot. The price of HT will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for HT market prices, please view the price charts on this page.
