Huobi announced that the exchange has listed its governance token, HTX token, and is preparing to facilitate the conversion from the existing HT token to HTX. This transformation is expected to occur on January 22, 2024, that is, today. This development brings with it more advantageous rates for early conversions and larger asset changes. It is possible to say that this is a move to encourage the users of HTX DAO.
Pros of Switching from HT to HTX
Koinfinans.com As we reported, the introduction of HTX will include the migration of benefits associated with HT to the HTX token, as announced by Huobi. This transition will occur on February 2, 2024. From now on, HTX owners will benefit from the advantages such as transaction fee discounts, margin loan interest and DMBT production fees that HT owners currently benefit from.
Termination of HT Spot Transaction and Advantages
This strategic decision can be considered as a change in Huobi’s token strategy completely towards the HTX token.
Starting February 2, 2024, owning Huobi assets will be calculated by multiplying the USDT value of HTX assets by 3. Similarly, for Prime membership calculations, the USDT value of HTX assets will be taken into account with a multiplier of 1.5. This change demonstrates HTX DAO’s commitment to transitioning its ecosystem to the HTX token.
As a result, the exchange’s transition from HT to HTX, crypto- It represents a significant change in ecosystems. The conversion process and carryover of benefits are designed to be seamless for users and include incentives for early conversions. The HTX DAO sets a new roadmap for its community and token economy as we move forward with HTX.