Review on Huobi Token by Helen Cheb

Huobi Token (HT) is the proprietary ERC20 token of the Huobi Pro cryptocurrency exchange, one of the largest in the world. Huobi Token is designed to reduce the fees paid by its holders for trading on the platform and is used in a point system when new tokens are added to the exchange.

Huobi Token is the internal cryptocurrency of the Huobi exchange, focused on the stable development and support of the user base and investors. Huobi Token is established as the internal cryptocurrency of the Huobi exchange. This trading platform is considered one of the largest in China and in the world. Creating your own digital money based on ether tokens allows you to optimize the services offered and make them more reliable to use. When Huobi launched its own token, it did so for a number of reasons. First, with his help, they implemented a loyalty program. Unlike Binance, which offers reduced fees to all of its users who pay fees using BNB tokens, Huobi provides discounts to members of the VIP program, in which it accepts its own HT token in return for membership.

Second, the company decided to use its tokens for voting on the Huobi Autonomous Digital Asset Exchange (HADAX). HADAX is an exchange created by Huobi that allows its clients to invest in promising tokens that are not extensively evaluated for listing on the main platform. Instead, users vote for the token they would like to see on the exchange, and HADAX conducts a minimal audit of it, checking only its authenticity and usefulness and not checking its investment value. Teams who want to withdraw their tokens to HADAX must make a deposit in HT Tokens. This deposit is intended for the payment of funds to users in the event of a token delisting, be it a fork, exit scam, hack or something else. Analyzing the development of a new cryptocurrency within the framework of exchange trading, experts positively assess its potential. The idea of ​​creating your own tokens is not considered unique - Binance and KuCoin have those, but in this situation there is no need to talk about competition.

Huobi Token is created exclusively as an internal exchange instrument. To a certain extent, they can be tied to the successful operation of the trading platform and its popularity.In this situation, the wide coverage of the exchange is highlighted, with a user base from more than 130 countries around the world. Despite the problems with bans in China, the trading platform continues to function successfully, maintaining its status as one of the world's largest exchanges.