Dear users,
As per Huobi Token (HT) buyback plan, Huobi Global and Huobi DM spends 20% of its quarterly revenue on buyback each quarter and the buyback in the third quarter of 2019 has been completed (computed based on average conversion price of USDT as at purchase date). We hereby disclose the information of this buyback as follows:
I HT Circulation Information
1. Total Amount of HT: 466.4117 million HT
Circulating Supply: 303.4795 million HT
Current Circulating Amount: 241.4155 million HT
HT Giveaway during Point Card Purchase : 300.0135 million HT
Marketing Promotions: 2.6128 million HT
Employee Incentives: 29.6247 million HT
Ecological Fund Investments: 4.8168 million HT
2. Total Pledged Amount: 62.0640 million HT
OTC Advertiser Security Deposit: 10.4700 million HT
Global Elites Security Deposit: 0.5233 million HT
NEXT Project teams’ Security Deposit: 0.2125 million HT
Huobi NEXT HT Votes (including the previous HADAX 2.0 Voting): 0.4030 million HT
Ecosystem Fund Investment: 0.2626 million HT
Investor Protection Fund: 50.1426 million HT
Others: 0.0500 million HT
3. Q3 2019 Token Repurchase & Burn: 11.3321 million HT
Huobi Global has completed the repurchase and burn of HT for Q3 2019 (a total of 11.3321 million HT, approximately equivalent to 40.6369 million USDT), of which, 8.3389 million HT was directly repurchased from the secondary market, with 2.9932 million HT derived from HT fee income.
Burn Record:
https://etherscan.io/tx/0x63dac76c81a6257cb2dd48f98b41668ba82949c53c89efe69433a3984929ca0b
4. Cumulative quantity of HT burnt to-date: 33.5883 million HT
As of October 15th, 2019, the total number of HT burnt is 33.5883 million HT. The details are as follows:
https://huobiglobal.zendesk.com/hc/en-us/articles/360000263422
Ⅱ Summary of HT application cases
1. Trading Fee Discount
2. Security Deposits of Huobi 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 Participation Privilege
12. Huobi FastTrack Vote-to-List
13. Spot Trading Fee Deduction
14. Margin Loan Interest Deduction
* More HT application cases will be available soon. Please stay tuned.
III Changes to the HT Burn Program
1. Value of Huobi tokens (HT) burnt in this round is based on actual repurchase price.
2. In July 2019, a community vote was carried out regarding enhancements to the token burn program. Starting fourth quarter 2019, 15% of quarterly HT revenue will be burnt, with 5% derived from the token burn of HT allocations to Employee Incentives, so as to ensure they do not enter the secondary market.
Ⅳ Development Plans for Huobi Token
As with the second quarter, HT continued to drive Huobi FastTrack Vote-to-List promotions, as well as the HT Tiered Fee discount program. In the third quarter, the use of HT was further expanded to support discounted Margin Tiered Fee Rates. At the same time, the launch of the Huobi All Star VIP program significantly increased the amount of HT held and consumed.
1. HT will drive Prime and FastTrack Vote-to-list promotions, providing the industry with an efficient and innovative listing business model. In the process, all HT votes received for the FastTrack listing project will be burnt.
2. Huobi will expand the scope of products supported under the HT Tiered Fee program. HT forms the core of application business use cases on the exchange. Subsequent efforts will be undertaken at a later stage to support OTC, contracts and other related businesses.
3. Huobi will further develop the Margin Tiered Fee product in an attempt to reduce the cost of margin loans and further empower HT.
4. The Huobi Financial Public Chain is undergoing development smoothly. HT will pay an important role in the development of the Public Chain, thus allowing HT’s value to be supported by the broader financial eco-system.
5. Huobi will continue to apply the dual strategy of reducing the supply of HT and increasing HT application use cases.
As the world's leading digital asset financial service provider, Huobi Group is committed to providing a better trading experience, greater account security and better customer service. We expect even more partners to participate in and grow with Huobi’s eco-system! Huobi Group will empower the blockchain industry and witness the continued development of HT with all users!
Huobi Global
October 15, 2019
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