Having burnt a cumulative of 45,837,700HT to-date, Huobi Global has decided:
1) To burn all undistributed 97,342,300HT originally allocated to fund platform operations.
2) To burn 50,075,600HT arising from 1st and 2nd quarter 2018 HT repurchase exercise and other HT platform revenue allocated to the Investor Protection Fund.
3) That Huobi will not increase total supply of HT in future.
Total HT Burn arising from the above-mentioned events is 147,417,900HT.
Following the results of the Q3 2019 community vote, a portion of HT team incentive rewards will form part of the 5% quarterly revenue allocated for repurchase and burn, thus ensuring they no longer re-enter the secondary market.
Subsequent security incidents will be covered under the Huobi Security Reserve, and not the Investor Protection Fund.
Under this updated HT tokenomics, there will no longer be HT flows back into the secondary market arising from unlocking of HT.
HT Circulation Statistics following this round’s token burn:
Total Supply: 500,000,000 HT
Remaining Total Supply: 306,744,400 HT
Total In Circulation: 239,398,600 HT
Cumulative HT token burn up till 29 February 2020 amounts to 193,255,600 HT, of which, 95,913,300 HT was repurchased from the secondary market and burnt. For more details pertaining to historical HT (Huobi Token) burns, kindly click here.
February 29, 2020