Ⅰ Summary Statistics
Relative to January 2020, Huobi enjoyed a month-on-month 31.3% increase in aggregate trading volume (Huobi Global & Huobi DM) in February 2020.
Ⅱ HT Analysis
1. Huobi Global decided to burn all HT allocated to Platform Operations and the Investor Protection fund, a total of 147,417,900 HT. Following the results of the Q3 2019 community vote, a portion of HT team incentive rewards will not re-enter the secondary market. Under the new HT tokenomics whereby it enters into a new deflationary phase, there will no increase in circulating supply arising from unlocking of HT tokens.
2. Total HT burnt in February 2020 amounted to 4,213,900HT, a value of 18,195,800USDT, a 43.45% increase from January 2020. The total amount of HT burnt by Huobi Global as of March 15, 2020: 197,469,600 HT. Results of the token burn will be updated to the Token Burn History Log on March 15, 2020.
Circulating Deflationary Rate: 1.32% (Note: Circulating Deflationary Rate = Current period total burn 4,213,900HT * 75%/239,398,600 HT)
Remaining Total Supply: 302,530,400 HT
Total In Circulation: 236,238,100 HT
3. HT Price Performance in February
HT/USDT Price Rose 49.1%
|Start of Month||3.4064 USDT|
|End of Month||5.0784 USDT|
|Latest Price||2.8901 USDT|
HT/BTC Price Rose 60.8%
|Start of Month||0.00036478 BTC|
|End of Month||0.00058668 BTC|
|Latest Price||0.00054542 BTC|
Ⅲ Overview of HT Key Activities In February
1. Huobi Chain Testnet was officially launched on February 29 2020. HT will be Huobi Chain’s sole utility token. Once the Mainnet goes live, Huobi Chain will announce HT-related events : e.g. pledge HT to be a Super Node, etc.
2. Huobi launched HT/USDT isolated margin trading with 2x margin leverage. HT margin interest remains the same as other digital assets (hourly rate = 0.098%/24*total loan quantity).
3. Official launch of Huobi Thailand on February 28, 2020. This is Thailand’s 5th licensed digital asset trading company, and is also the only compliant digital asset trading platform in Thailand that supports the purchase of HT with Thai Baht. Official website: www.huobi.co.th.
4. Huobi’s Dust-Sweep function, and Huobi Pool’s support for HPT to HT swap conversion function on Huobi Pool was launched in February and early March respectively.
5. HT launched on BW exchange, Crypto Guardian and Fanbi (FBT) as part of continuous efforts to increase its application use case and liquidity.
6. Huobi Global upgraded its VIP benefits structure on 12 February, introducing the concept of Experience Points whereby the greater the cumulated experience points, the more VIP benefits a user can be enjoy.
Ⅳ Recent Key Events
1. Huobi Global officially launched the BTC’s DeFi project token. Launched by Huobi Global and deployed on the Ethereum network, Huobi BTC (HBTC)token aims to promote the growth of the decentralized marketplace by injecting Bitcoin (BTC), the largest and most liquid asset, into the decentralized finance (DeFi) eco-system.
2. Huobi Japan, through various channels, purchased medical supplies for donation to China. In February a total of 3,300 of protective clothing and 6,000 pairs of shoe covers were donated to nine (9) hospitals in the country.
V Upcoming Plans for HT
1. HBDM Perpetual Contract is scheduled to launch on March 27th. Perpetual Contract business will also contribute to HT token burn. Please refer to Huobi Global’s announcement page for more details.
2. Development of the C2C lending function is progressing normally, and internal testing will start March 20th. Once launched, those who meet the HT holding requirements can lend assets such as BTC and USDT with certain interests.
3. Efforts by HBDM to provide low-risk customers with collateralized HT loans for contract assets is progressing well, and have opened up to market makers and VIP users on 10th March.
4. Huobi Indonesia recently launched HT/IDR trading pair on March 9th to Indonesian users.
5. Phase 2 of Huobi VIP Structure will launch, allowing OTC, Huobi Pool and Huobi DM asset and trading activities to generate Experience Points, accelerating the promotion of users as Huobi VIPs and allowing them to enjoy exclusive benefits faster.
March 15, 2020