What is Huobi Token (HT)?
Serving as the native currency of the Huobi cryptocurrency exchange, Huobi Token (HT) is a “Blockchain-Powered Loyalty Point System,” giving its holders access to special privileges when trading on the exchange, as well as enabling other functionalities. Huobi is currently the world’s 3rd largest cryptocurrency exchange by trading volume. More than 98% of its digital assets are stored in multi-signature, cold wallets, secured by protocols compliant with those deemed to be the industry’s best practices. Over the 4 years of its existence, it has developed a reputation among its customers as being safe and stable, with some of the soundest infrastructure operations of any exchange in the business.
History of Huobi Global
Headquartered in San Francisco, CA, the Huobi cryptocurrency exchange first opened for business in early 2014. Over the four years of its existence, it has become one of the world’s leading exchanges, currently averaging over $700 million in trades per 24 hours. Huobi Token was first introduced on the exchange in February 2018, being listed by others in late April. It first surpassed a market capitalization value of $250 million only a month later. All Huobi Tokens designated to be released to the public were given away for free to exchange users, with no tokens ever being sold directly by the exchange. Currently, there is slightly over 50 million HT in circulation, or 1/10th of its total supply.
How Huobi Token Works
Similar to Binance Coin and KuCoin Shares, Huobi Token holders are granted special permissions and discounts on the Huobi exchange. Huobi Token is also the centerpiece of the Huobi Global Ecosystem, which includes partnering exchanges, mining pools, cryptocurrency wallets providers, market data vendors and research teams, among many other facets. A total of 500 million Huobi Tokens were generated upon its creation, with 60% of the tokens given away to exchange users for the purchase of “Point Cards.” 20% of tokens are reserved for user rewards and platform operation, while the remaining 20% are reserved for team incentives subject to a 4-year vesting schedule.
Why Should I Buy Huobi Token?
For users of the Huobi exchange, Huobi Token offers many special perks not normally associated with exchange-native coins. In addition to reductions of trading fees, they include:
VIP Discounts. HT holders receive discounts on a variety of exchange products (other than trading fees).
Liquidity Protection. Four times a year, Huobi performs a buyback of a certain portion of HTs on the open market, holding them in a Huobi User Protection Fund. The bought-back HTs are then set aside to protect user funds and compensate users for losses in unexpected emergencies.
HT exclusive events. HT holders are invited to attend and participate in Huobi-specific events around the world.
Trade Against Popular Coins. On the Huobi exchange, several leading coins and tokens are paired with HT, meaning they can be bought and sold directly with HT.
Voting Rights. Holders of HT are allowed to vote in issues of exchange-related governance, such as platform developments and new coin additions.
Best Huobi Token Casinos
Unfortunately, there are no Huobi Token casinos at the moment. We assume this will change soon, as casinos like LuckyGames.io are offering gambling with dozens of coins. The same can be said for other forms of gambling as well – there are no sports betting, esports, poker, dice, or lotto sites accepting Huobi Token right now. As this changes, we will update this page with the best gambling sites available to Huobi Token holders.