Huobi Global is a well-known cryptocurrency exchange that hosts hundreds of digital assets on its platform. As it serves over 280 cryptocurrency marketplaces, the organization has been effective in providing services to consumers while also providing an excellent trading experience. Huobi Global has aimed to make its values tradeable in the cryptocurrency market for its global consumers. Furthermore, it was researching new ways to better serve consumers and reward them with lower transaction costs. This prompted the business to create its own digital money, Huobi Token.

The Huobi token (HT), created by the team behind Huobi Global, is a decentralized ERC-20 cryptocurrency built on the Ethereum (ETH) network.

History

Huobi Token debuted in early 2018 as the Huobi team intended to broaden the growth and development of its platform with a flexible market approach capable of attracting new gross users. Huobi Token arose as a result of the presence of its mother platform, Huobi Global. As a result, the token's creators are also the creators of the crypto exchange. The platform was created by a team of two cryptocurrency veterans, Leon Li and Jun Du. In 2013, both were Bitcoin (BTC) supporters and experts. After Huobi's creation, Leon Li became its manager, transforming it into a financial service provider in the crypto industry. In 2018, the team welcomed another cryptocurrency expert into the Huobi ecosystem, Herbert Rafael Sim.

When Huobi first launched in China, it was subject to restrictions imposed by the country's regulators at the time. In reaction to the country's crypto prohibition and limited crypto activity, it created the Huobi token and issued it to Huobi VIP users. This allowed it to grow its user base independent of the country's regulatory constraints. The token may then be exchanged for other cryptocurrencies by members.

How does it work

Huobi created HT in accordance with the environment of the blockchain network. The most essential aspect of HT is that it may be utilized by Huobi as well as inside the Huobi ecosystem. Huobi Token also has the advantage of being a carrier. Because of this capability, HT has become a significant hub for all apps and enterprises deployed on the Huobi Group ecosystem. Furthermore, numerous enterprises may migrate securely owing to the Huobi infrastructure. Furthermore, Huobi token holders have access to the Huobi ecosystem and all of the advantages it offers. It enables Huobi, in particular, to exponentially expand its value as a consequence of repeated token purchases and subsequent burning.

Advantages of HT are:

• Ownership of Huobi Global invites and discounts

• Rewarding by distributing sub tokens

• Legal assistance in OTC trades

• Commission fee reduction

• Trading ability in the ecological trading zone.

Total supply and circulation

Maximum and total supply are 500 million coins, while circulating supply is 153,357,694 tokens.