The Huobi platform expects big changes in relation of its own Huobi (HT) tokens. The exchange will hold a vote, according to the results of which the future of HT tokens will be decided. Huobi will offer token holders to buy them out and distribute as its normally done or burn them.
Huobi Group's Vice President Livio Weng said:
"One of Huobi's core values is giving our users maximum choice so putting this up to vote was a natural choice for us. We feel our HT community should have a say in the overall future of this project."
Recall that at the moment exchange buys HT tokens for a part of its quarterly income and transfers them to existing owners of HT through the Airdrop-program.
A public vote will take place from 07:00 AM (GMT) on Monday, December 3 to 07:00 AM (GMT) on Thursday, December 6.
Also Huobi, has launched its platform for trading derivatives in digital currencies.
The presentation of the platform called Huobi Derivative Market (Huobi DM) was held at the Cryptofrontiers conference in New York yesterday. The company is positioning its new service as a means of engaging users in the trading of derivative financial instruments, in this case, derivatives for the cryptocurrency.
Derivatives themselves have no value, and their value is determined by the price of the underlying asset - any digital currency. The platform will help traders manage risks when trading such contracts using a hedging method.
By trading derivatives, users will be able to buy and sell cryptocurrency at predetermined prices at the most appropriate moments in the future, giving investors the opportunity to take long or short positions.
BTC Contract became the first derivative contract to be available at Huobi DM.
“It is accounted in $, with corresponding digital currency( BTC) as margin, and users’ profit and loss settlement is also conducted in corresponding digital currency( BTC).”
Recall that in October, the company presented a new solution for stablecoins, that allows you to "switch" between different stablecoins using the native token HUSD.
It seems that the current state of the cryptocurrency market does not scare the technology entrepreneur and former technical director of the Huobi exchange James Ju as he recently announced he was raising $15 million in investment to open his own trading platform in Singapore.
Ju, who previously worked as the technical director of Huobi, announced his intention to launch a new digital currency exchange before the end of 2018. The exchange, which will be called the Blue Helix Exchange (BHEX), has already attracted more than $15 million from investors, including OKEx and, surprisingly, even Huobi - former employers of Ju. BHEX also plans to issue its own tokens and their distribution among the funds. DHVC, Dfund, BlockVC and Genesis Capital are on the list of interested crypto funds.
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