As Huobi Token (HT) buyback plan, Huobi Global will spend 20% of its revenue on buyback and the buyback in the fourth quarter has been completed (the conversion price of USDT is the closing price on December 31). We hereby disclose the information of this buyback as follow:
I. HT circulation information:
1. Total amount in the market: 324,684,600
Rewards of Point Card Purchase: 300,013,500
Marketing Promotion: 2,329,600
Employee Incentive: 18,418,000
Ecosystem Fund investment: 3,923,515
2.Total locked amount: 74,056,600
OTC Merchants: 9,190,000
Global Elites: 1,959,500
Project Teams (security deposit): 9,138,200
Huobi Next Voting (previous HADAX 2.0 Voting): 2,875,800
Key Clients Benefits: 354,000
Ecosystem Fund Investment: 893,300
Investor Protection Fund: 49,590,800
3. Current circulation amount: 240,522,700
Total circulation amount = total amount in the market – locked amount - Secondary market buyback
Secondary market buyback: 10,105,300
The secondary market buyback of 10,105,300 HT will be included in the Investor Win-win Fund. As the Investor Win-win Fund did not vote for projects on Huobi Next in the fourth quarter, the full amount of Investor Win-win Fund of this phase will be airdropped to all HT holders.
The airdrop plan is as follow: Based on the snapshot of HT amount （per snapshot of users’ HT on Huobi Global and Huobi OTC per current market amount）and HT corresponding to HB10 in the user account at 00:00:00 on each day from October 1 to December 31 (GMT+8), Huobi Global will airdrop assets according to users’ share of holding on a daily basis. The airdrop of Investor Win-win Fund will be conducted in three installments. The first airdrop will take place on January 15, and the other two will be on February 15 and May 15 respectively.
Specific calculation method: Asset airdropped to a user = （A1+A2+…A92）/（D1+D2+...+D92）*HT 【A is a user’s holding amount of HT on each day；D is the total HT amount in the daily snapshot】, which means, the amount of the airdrop each user gets=The holding amount of HT of the users in 92 days/Total holding amount of HT at Huobi Global*the distribution amount of HT each month
II. Summary of HT application cases:
1. Huobi Next Voting
2. Security Deposits of Huobi Next Project Teams
4. Global Elites
5. Security Deposits of OTC Merchants
6. Huobi Global Ecosystem Fund
7. OTC legal support
8. HT Holder Benefits
9. Huobi Eco Partner Trading Zone
10. Security Deposits of Huobi Cloud
11. Consumption of Huobi Club
* More HT application cases will be available soon, please stay tuned.
III. Development plan of Huobi Token in the next stage
1. From December 3, 2018 to December 6, 2018, we held a public vote on the handling of HT repurchased in the future, and the number of votes supporting “burning” was 80.99%. According to the voting rules, the HT repurchased in the next stage will be processed in the form of “burning”, at which time we will disclose more details via announcements.
2. On December 10, 2018, Huobi Derivative Market (HBDM) was officially launched to provide safe, professional and efficient digital asset derivatives services to investors around the world. At the same time, 20% of Huobi DM revenue will also be used for repurchasing HT in the next stage.
3. HT has been applied to many cases such as service fees of Huobi Mining Pool and media. The payment function of enterprises will continue to expand, covering community service providers, multiple incubators, head brand mining machines, multiple Top10 mining pools, more than 30 crypto world media and a number of headhunting companies. With the continuous development of Huobi Eco, HT holders will also enjoy more benefits.
As the world's leading financial hub of digital assets, Huobi Group always adheres to the mission of “Making Finance More Efficient and Making Wealth More Free”, and is committed to providing a better trading experience, safer account protection and more intimate customer service. Huobi Token is the core of Huobi Eco and there will be more HT application cases. We expect more and more partners to participate in Huobi Eco, grow together with us, and jointly promote the development of the blockchain industry!
January 15, 2019