About

Huobi Token (HT) is the native cryptocurrency of the Huobi Global exchange. As an exchange-based token, it serves various purposes within the Huobi ecosystem, such as reducing trading fees, participating in token sales, and voting on exchange decisions. HT holders also benefit from buybacks, where the exchange uses its profits to purchase and burn a portion of HT, reducing its overall supply.

History

Huobi was founded in 2013 and has since built one of the largest crypto exchanges in the world. They launched their own native token at the start of 2018. The Huobi Token (HT) distributed through the exchange of “point cards,” which are pre-paid cards for basic services on Huobi, where 1 point is equivalent to one tether (USDT). Holding HT offers users discounts on both trading and margin fees based on a tiered system. Following the lead of Binance who started offering direct token sales through their IEO launchpad, Huobi announced their version Huobi Prime in March 2019.