Huobi Token (HT) is one of the most popular cryptocurrencies in the market. As of May 2023, it has a market capitalization of over $10 billion and a daily trading volume of over $1 billion. If you are considering investing in HT, you might be wondering about its total supply. In this article, we will explore everything you need to know about the total supply of Huobi Token (HT).If you are interested in Bitcoin, check out How cryptocurrencies can help the global economy.
What is Huobi Token (HT)?
Huobi Token (HT) is a digital asset that powers the Huobi ecosystem. It was launched by Huobi Global in January 2018 as a means of rewarding its users and incentivizing them to trade on the platform. HT is an ERC-20 token, which means it is built on the Ethereum blockchain. HT is used for various purposes, including trading fee discounts, VIP status, and access to exclusive events and airdrops.
What is the Total Supply of Huobi Token (HT)?
The total supply of Huobi Token (HT) is 500 million. This is a fixed supply, meaning that there will never be more than 500 million HT in circulation. When HT was launched, 300 million tokens were allocated for public sale, and the remaining 200 million tokens were reserved for the Huobi team, early investors, and advisors.
According to the official Huobi Token whitepaper, the 300 million HT allocated for public sale were sold at a price of 1 HT = 0.0015 ETH. This means that the total amount of ETH raised during the initial coin offering (ICO) was 450,000 ETH. The funds raised were used to develop the Huobi ecosystem and promote the adoption of HT.
The remaining 200 million HT tokens were distributed as follows:
- 20% (40 million HT) were allocated to the Huobi team, with a vesting period of four years.
- 22.5% (45 million HT) were allocated to early investors, with a vesting period of one year.
- 4.5% (9 million HT) were allocated to advisors, with a vesting period of one year.
- 3% (6 million HT) were allocated to community building and marketing.
- 50% (100 million HT) were allocated to the Huobi Investor Protection Fund, which is used to compensate users in case of security breaches or other incidents.
What Happens to Unsold HT Tokens?
During the initial coin offering (ICO), a total of 300 million HT were allocated for public sale. If not all of these tokens were sold, what happens to the unsold tokens?
According to the official Huobi Token whitepaper, any unsold tokens were burned. Burning tokens means sending them to an address where they can never be accessed again. Burning tokens reduces the total supply of HT and can increase the value of the remaining tokens.
Conclusion
In conclusion, the total supply of Huobi Token (HT) is 500 million, and this is a fixed supply. The initial coin offering (ICO) sold 300 million HT tokens, and the remaining 200 million tokens were reserved for the Huobi team, early investors, and advisors. Any unsold tokens were burned, reducing the total supply of HT. If you are considering investing in HT, it is essential to understand its total supply and how it is distributed. By knowing these details, you can make informed decisions about your investment.
James is a great tech-geek and loves to write about different upcoming tech at TechyZip. From Android to Windows, James loves to share his experienced knowledge about everything here.
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