Huobi, the crypto money market, announced on January 23th that they will launch a token they named Huobi Token (HT).
According to the Bourse's announcement, 500 million tokens will be issued and 300 million of them will be offered to investors. The rest will be kept for user incentives and team awards.
According to Huobi's statement in the press, the proposal should not be understood as an ICO only for users who actively participate in the platform. The stock exchange expressed the following in the press statement:
HT is not an ICO. Users can purchase HT only with 'Point Card' which they will buy through Huobi Pro. Point Card is Huobi's prepaid card. 1 point equals 1 dollar.
According to the statement, the company will allocate a 20% profit rate every year to a repurchase program that will release the HT from the market. With such service configurations, the company plans to earn customer loyalty in the long run by collecting fees in advance. According to Huobi's description;
For example, if you buy 1000 HT package, it will only cost you 990 dollars. HT can then be used to offset transaction fees.
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