1 Level
6 Review
0 Karma
Review on Huobi Global by Bethany Clements
Huobi wanted to create a token with as much stability as possible. As such, it…
Huobi wanted to create a token with as much stability as possible. As such, it maintains a buyback policy in which it uses 20% of its profits to buy the open tokens in the market during particular period. This is meant to prevent token inflation in the future.
Pros
- The Huobi Pro Exchange developed its own HT coin for a number of purposes. First, it wanted to offer lower transaction rates in the market. In contrast to Binance, which offers lower fees across the board, Huobi Pro only offers lower fees to those who subscribe to the platform. Although the transaction fees of 0.2% is not as low as Binance’s 0.1%, Huobi’s frequent users can have a VIP subscription which matches Binance’s low transaction fees. This is significant when taking into consideration that Binance’s low fees are limited to a five-year period.
Cons
- it wanted to offer a way for teams to vote to be listed on Huobi’s Autonomous Digital Asset Exchange (HADAX). HADAX was an exchange created by Huobi as a way for users to invest in other potential tokens in the world without being listed with an evaluation of their investment value. Instead, users vote for tokens to be listed on the exchange. HADAX performs a minimal audit on these tokens, evaluating them for only authenticity and legitimacy (not value). Teams that want to be listed on HADAX must pay a deposit in HT tokens. This deposit is supposed to pay users back if delisted for any reason, legitimate (e.g. a fork) or not (e.g. exit scam, hack).
