As per Huobi Token (HT) buyback plan, Huobi Global will spend 20% of its quarterly revenue on buyback each quarter. Since this quarter, the 20% revenue of Huobi DM will also be used to buyback and the buyback in the first quarter of 2019 has been completed (the conversion price of USDT is the closing price on March 31). We hereby disclose the information of this buyback as follows:
I. HT circulation information:
1. Total amount in the market: 329,993,000
HT rewards of Point Card purchase: 300,013,500
Marketing promotions: 2,362,300
Employee incentives: 23,582,600
Ecological fund investments: 4,034,600
2. Total locked amount: 66,606,400
OTC merchants: 8,345,000
Global Elites: 621,000
Project teams’ security deposit of Huobi Next: 3,626,200
Huobi Next Voting (including the previous HADAX 2.0 Voting): 2,024,100
Ecosystem fund investment: 782,200
Investor protection fund: 51,157,900
3. Current circulation amount: 256,911,800
Total circulation amount = total amount in the market – locked amount – secondary market buyback
Secondary market buyback: 6,474,800
6,474,800 HT was repurchased in the secondary market. The revenue of the first quarter, 2019 increased from that of the fourth quarter, 2018. Due to the HT price upsurge, the buyback amount of HT slightly decreased in the first quarter.
4. Destruction publicity
According to the open voting result on the HT buyback plan, Huobi Global has destructed all the HT repurchased in the first quarter of 2019 amounting to 6,474,800 HT.
II. Summary of HT application cases:
1. Huobi Next Voting
2. Security Deposits of Huobi Next Project Teams
3. Global Elites Security Deposits
4. Security Deposits of OTC Merchants
5. Huobi Global Ecosystem Fund
6. OTC Legal Support
7. HT Holder Benefits
8. Huobi Eco Partner Trading Zone
9. Huobi Cloud Security Deposits
10. Huobi Club Consumption
11. Huobi Prime Projects
* More HT application cases will be available soon. Please stay tuned.
III. Development plan of Huobi Token in the next stage
1. The repurchased HT will be destructed since this quarter. The supply of HT will be in deflation mode.
2. Since the launching of HBDM on December 10, 2018, it is dedicated to providing secure, professional and highly efficient digital asset services. Meanwhile, the 20% of the HBDM revenue will be used to buyback HT.
3. HT has been applied in the Huobi Pool service fee and Huobi Prime. The application of HT has been expanded to community service providers, several incubators and top mining machines, top 10 mining pools and 30+ media in the crypto-world. With the development of Huobi Ecosystem, HT holders will be able to enjoy more benefits.
Since it was founded in 2013, Huobi Group has upheld the idea of “empower financial services and liberate global wealth” as its mission and “putting users first” as its concept. Huobi Group is committed to offering secure, professional, credible, and quality services. As the core of Huobi Global Ecosystem and HT will have more application scenarios. We hope that more partners can join in the ecology of Huobi, and grow together with us to promote the development of the blockchain industry!
April 15, 2019