Huobi Token (HT) is the native cryptocurrency of the Huobi cryptocurrency exchange. It is an ERC-20 token that plays an integral role in securing the Huobi network and offers benefits to the users.
Huobi crypto exchange allows trading crypto for most of the popular cryptocurrencies with the Huobi Token. In addition, the Huobi Token (HT) are part of Huobi’s loyalty program allows offer to get discounts on transaction fees.
HT token holders receive two type of bonus: new coins whenever there is a new listing of any cryptocurrency on the platform. But also, give Huobi Prime tickets, an Initial Exchange Offering (IEO) where investors are allowed to invest on the upcoming crypto that will be tradable on the Huobi exchange.
Plus, HT Tokens holders can vote and influence the overall development of the Huobi crypto exchange ecosystem.
Huobi Global allocates 20% of the exchange revenue for a token buyback program every quarter to purchase and burn HT. Moreover, Huobi also buys back HT tokens and sends them to an investor protection fund, where they are stored safely to be used for compensating users in the event of financial losses.
Huobi isn’t the first exchange to issue its own token. Binance (BNB), Bibox (BIX), KuCoin (KCS) and Coss (COSS) have all issued their own tokens as well.