Huobi Global is an exchange with several product and in my previous post, I wrote my experience with one of the product ‘the Huobi wallet’, you can check out Spotlight on Huobi Challenge|| Huobi Wallet (Huobi Global decentralized wallet) if you missed reading about it. I started using the Huobi wallet and I must confess that I have been enjoying my experience, I haven’t gone back to check if the Google Playstore application version has been updated and the App is now working properly but I am enjoying the APK version. In this post, I will sharing my experience with another Huobi product and that’s the Huobi Pool.
Huobi Pool is one of Huobi’s product which allows users to earn Huobipool Token (HPT) by mining, staking, locking and voting. Using Huobi pool, one do not need to create a separate Huobi account as an existing account can be used to earn revenue while you sleep. With Huobi pool, users can mine proof of work coins such as BTC, BCH, BSV, ETH, ETC, LTC and DCR, users can also stake coins for earnings. Coins such as AAVE, FIRO, KAVA, RING, NEAR, FIL, ADX, CHR, FSN, LUNA, DOT, DAI, ONE, KSM, THETA, NEO, NEST, WAVE, ZEN, ADA, DASH, XZC, TT, AAC, BAND, NAS, GXC, BHD, XTZ, EOS, ATOM, TRX, IOST, VSYS, BTM, BBT, CMT, ONT, NEW, QTUM, NULS, APRA, CRO IRIS, LOL, LAMB, LXT, LSK, and HT, users can also vote for block producers and super representative on Coins such as EOS, TRX, and IOST, and finally, users can use the cloud service.
How Huobi Pool Works
With Huobi Pool, there is a minimum amount needed to mine, stake and vote and each has a fixed price of token to be received on a daily, paid in HPT. For mining POW coins, it is the same as joining a pool to mine but this time around you are joining the Huobi pool which is a very large pool and would be profitable as Huobi has funds to mine with super computers.
For locking, users have a minimum amount to be locked before earning as well as a time before the token is unlockd. The minimum amount of coins/token to be staked differ according the coin. Most coins in this section are proof of stake, and delegated proof of Stake coins with a particular time to be unlocked and the amount of HPT to receive as revenue.
Voting is also possible on Huobi Pool and while doing this, the users give Huobi their token to vote for governance in blockchain networks such as Tron (TRON), Enterprise Operating System network (EOS), and IOST.
What is HPT
Huobi Pool Token is Huobi certificate of the HuobiPool and it is used to reward users who give their coins for the purpose of mining, locking and voting. Huobi Pool token can be mined by users locking voting and mining POW coins with their coins. HPT token has a market capitalization of $20,536,320, selling at $0.003929.
HPT is going to be distributed in the following way;
- Huobi community mining: 40%
- HT user airdrop: 20%
- HADAX voting: 10%
- Research Development: 10%
- Determined reward: 10%
- Team Reward: 10%
Conclusion
There are 306852 people who use Huobi Pool, and i just joined the number of users as i used my TRX tokens to vote for Super Representative. To do this, i had to use the Huobi Pool App as TRX voting only works on the App. You should also give the Huobi Pool app a try.
Thank you for taking part in the Spotlight on Huobi Challenge.
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The Steemit Team
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