Justin Sun’s cryptocurrency exchange Huobi is preparing to convert HT into HTX. Thus, the stock market is undergoing a significant change, reshaping benefits under decentralized governance. Meanwhile, the move outlined in a recent press release reveals a number of changes, including the listing of the HTX DAO (HTX) and the option for HT holders to voluntarily swap their tokens.
Justin Sun’s cryptocurrency exchange Huobi introduces HT evolution
cryptokoin.com As we reported, HTX’s press release outlines this critical transformation process. Accordingly, HTX will enter the DAO (HTX) stock exchange list. Additionally, the exchange will request HT holders to voluntarily convert their tokens into HTX. It is possible for users to seamlessly convert HT to HTX from their HTX accounts as of January 22, 2024. Notably, the conversion period will be valid for a long time, until January 20, 2025. This gives users a wide window to switch.
Meanwhile, the announcement emphasizes that earlier conversions will provide a more favorable conversion rate. This move is in line with the growing trend of decentralized autonomous organizations (DAOs) in the cryptocurrency space, increasing transparency and user governance. In addition, the conversion of HTX DAO from HT triggers a number of benefits for token holders. HTX holders will have existing benefits associated with HT starting February 2, 2024.
The exchange will provide some advantages for the new token!
Key changes include removing the “Reduce spot/futures fees with HT Interruption” option and introducing the “Reduce fees with HTX Interruption” option. This change promises a 25% discount on spot trading fees and a 5% discount on futures trading fees. Additionally, the cryptocurrency exchange offers discounts on margin loan interest through HTX.
Additionally, Prime membership levels will now increase with holding HTX instead of HT. It will also mark a paradigm shift in the valuation of assets in the Huobi ecosystem. The announcement also details changes to Rocket calculations, small balance conversions and automatic transfer of HT assets.
HTX listing calendar
The conversion of HT to HTX is accompanied by a strategic listing program for HTX. It is possible for users to deposit HTX starting from 09:00 CET on January 20, 2024. Meanwhile, the cryptocurrency exchange will make the conversion service available starting from January 22, 2024 at 11:00 CET. This will allow HT holders to seamlessly switch to the new token.
Next phases include the launch of P2P trading for HTX, availability of Earn products, listing and withdrawal services for spot trading. This phased migration provides users with a seamless transition while introducing them to the advanced features and benefits associated with HTX. Huobi Token is undergoing this evolutionary transformation under the leadership of Justin Sun. The cryptocurrency community is awaiting the resulting impact on the broader market.
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