Introduction: DeFi, as we all know it, is a decentralized means of finance that avoids financial intermediaries or central banks and makes use of smart contracts through Blockchain especially the Ethereum Blockchain. Numerous DeFi projects enable participants to save and trade their cryptocurrencies, earn interest from saving and lending services #DEFI.
Huobi Ecological Chain(HECO), is an example of a DeFi project making waves in the industry. HECO has already been mentioned by big Asian medias, which gives it a hope for recognition #HECO. Hubo Token(HT) is the token managing the activities of HECO, but due to the large work to be handled and the need to meet up with the constant demand for deals. A stablecoin product, an update of Basis Protocol will be welcomed, and called HT Anchor Cash and will assist HT on the Huobi Smart Chain.
Tokenomics of HT Anchor Cash:
The HT Anchor Cash protocol has three(3) tokens: HTC.Cash, HTB and HTS. So, basically Cash+ Share+ Bond constitutes the HT Anchor Cash. HTC Anchor Cash was first introduced by HECO, and is known to be the original stable coin to be accepted into HECO. HTC and HTS can be utilized with liquidity and HTC will be valued with HT on a ratio(1:1). HTB is needed when the current value of HTC is below 1HT and HTB can come in handy when there is a change in value to buy HTC again. If HTC goes beyond 1.1HT, holders of HTB can use it to trade HTC back to its normal ratio(1:1).
HTC distribution plans:
One major feature of HTC is that there is no pre-mining season causing a fair means of disbursing the tokens to users equally. The following pools will be launched by HTC for a start: HT, HUSD, HLTC, HBTC, HBSV, RAB(the DEX token), BAG(the algorithmic stable coin) etc. 11 mining pools will be created initially and each mining pool will be given their reward at the end of their mining periods. A total of 11,000HTC will be mined, and about 1,000HTC will be the result at the end of 10 days. This means that 100HTC will be produced from all the mining pools every day. The disbursal of HTS will follow suite just after HTC is distributed. In total, 2,100,001HTS will be supplied and will be issued to four pools. These pools will be pegged as HTC with HT and USD, then HTS with HT and USD.
Both the HTS-related mining pools will disburse about 684.9315HTS every passing day and will be distributed linearly throughout the 365 days. The HTC-related mining pools will each distribute a certain number of HTS tokens that would yield profit in 30 days, then face a fall of 75% after the next month.
Conclusion: The launching of HT Anchor Cash on HECO gives it a better position as one of the most recent DeFi project making waves in the DeFi world. There would be no discrimination in the ecosystem as users from Huobi, HECO and numerous DeFi ecosystems can also partake in governing and mining HT Anchor Cash. With time, HTC will become a big name in both the DeFi and HECO ecosystem.
#HTCCASH #HTC #DEFI #HECO #HuobiEcochain
Website: https://www.htc.cash/
Telegram : https://t.me/HTC_CASH
Telegram：https://t.me/tokenPocket_en
Telegram Channel : https://t.me/HTC_CASH_CHANNEL
Github：https://github.com/HT-ANCHOR-CASH
Gitbook : https://htanchorcash.gitbook.io/htc/
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Houbi Wallet : 0x51eD0Ea813F36d5c9D948745C0bBb2C18d8dEffD