How does Huobi Token work?

Huobi Token (HT) is a cryptocurrency token issued by Huobi Global, a leading digital asset exchange.

The token was launched in January 2018 and is used to power the Huobi ecosystem. The primary purpose of HT is to provide users with discounts on trading fees when they use it to pay for their transactions. For example, if you use HT to pay for your trading fees, you will receive a 50% discount on the fees.

This discount applies to all trading pairs on the Huobi Global platform. In addition to providing discounts on trading fees, HT can also be used as collateral for margin trading and as a payment method for other services offered by Huobi Global. For example, users can use HT to purchase VIP membership packages or participate in various promotional activities.

HT also serves as an incentive for users who hold it. Every quarter, Huobi Global will distribute 20% of its revenue from transaction fees back to HT holders in the form of a reward program called “Huobi Prime”. This reward program allows users who hold HT to receive additional tokens from new projects listed on the platform at discounted prices before they are available on other exchanges.

Finally, HT can also be used as a medium of exchange between different digital assets listed on the Huobi Global platform. This allows users to quickly and easily convert one digital asset into another without having to go through an external exchange or wait for long processing times associated with traditional banking systems.