The first HTX DAO People's Congress successfully concluded. Justin Sun: HTX DAO helps Huobi HTX achieve long-term stability
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The first HTX DAO People's Congress successfully concluded. Justin Sun: HTX DAO helps Huobi HTX achieve long-term stability
"How to leverage the governance token HTX to build a rational profit-sharing mechanism that achieves a dual helix growth of the platform token's price and the platform's business, thereby creating greater momentum" is a highly关注 issue within the Huobi HTX community.
Navigating Web3 tides with focused insightsOn January 25, the first HTX DAO People's Congress was successfully held. Sun Yuchen, global advisory board member of Huobi HTX, responded to numerous inquiries from HTX DAO ecosystem participants during the event and expressed his hope that Huobi HTX could achieve long-term stability through HTX DAO.
The event was broadcast live simultaneously via Huobi HTX’s Twitter Spaces and Huobi Live. Two users with the most-liked comments selected through a social media campaign, along with eight users chosen by the HTX DAO Governance Committee, participated as inaugural ecosystem representatives.
Double Helix Growth of $HTX and Platform Business
"How can the governance token HTX be used to build a reasonable profit-sharing mechanism, achieving synergistic growth between the platform token price and business operations, thereby generating greater momentum?" This is a key question closely followed by the Huobi HTX community.
Sun Yuchen explained that $HTX development consists of two phases. In the $HTX 1.0 phase, the focus is on core utilities such as exchange token mining, fee discounts, and token burn mechanisms. Building on this foundation, $HTX 2.0 will gradually introduce governance features including voting for new listings, democratic elections, community forums, governance decisions, and asset transparency mechanisms—shaping the exchange’s governance structure and future development.
Sun stated: "Ideally, $HTX will be distributed to contributors and users of the exchange. By regularly convening People's Congresses together with leaders from various departments of Huobi HTX, we aim to let users feel they are true owners of the exchange. This way, the exchange wins through transparency and community governance, gradually entering the era of the People's Exchange 2.0."
Regarding the price of $HTX, Sun said it is something to look forward to.
He revealed that intensive efforts are underway to list $HTX on other exchanges. Besides Poloniex and Huobi HTX itself, HTX DAO is currently in discussions with cryptocurrency exchanges in South Korea, Brazil, Turkey, Indonesia, Thailand, the Philippines, and other regions, aiming to establish cooperation as early as possible and bring more exchanges into the historic scope of HTX DAO.
Sun added that another strategic focus for $HTX is its deployment across four major blockchains: TRON, BitTorrent Chain (BTTC), Ethereum, and Binance Smart Chain (BSC). The plan includes expanding use cases on these chains—such as partnerships with CEXs, DeFi platforms, and NFT marketplaces—to enhance token liquidity. Additional deployments may follow based on demand, including on networks like Solana.
Flexible and Adjustable Conversion Mechanism
Another topic of interest within the community concerns the staking ratio and unlocking mechanism for converting $HT to $HTX. Sun Yuchen responded during the livestream that the current conversion rules are relatively complex, primarily influenced by two parameters: platform assets and trading volume. Additionally, the platform has designed various unlock tasks, including transaction-based unlocking.
Sun acknowledged that the conversion/unlocking mechanism is newly launched and not set in stone—it is still undergoing continuous iteration. The platform has received substantial user feedback and suggestions and will reasonably incorporate them to improve the mechanism. Upcoming initiatives such as airdrops and trading mining programs aimed at boosting platform activity will be rolled out progressively, and users are encouraged to stay tuned.
Moreover, regarding the meme-like characteristics exhibited by $HTX, Sun noted that the issuance of $HTX indeed drew inspiration from meme coin models, as meme coins carry minimal securities attributes while maximizing community consensus.
Ensuring Long-Term Stability for Huobi HTX
During the livestream, the term "long-term stability" was mentioned multiple times.
"We are empowering the community with greater governance rights, exploring an evolving, community-driven operational structure for the exchange. No matter what decisions founders or executives make—or even if they leave—the exchange’s development will continue unaffected. Only then can we truly achieve long-term stability."
Sun analyzed that unlike traditional finance, the crypto world values community governance and decentralized discussion—a democratic ethos. After witnessing events such as the FTX collapse and CZ stepping down as Binance CEO, he has become even more convinced that exchange platforms must evolve toward globalization and decentralization. The establishment of HTX DAO has given Huobi HTX a second life. This means that although Huobi HTX may have a centralized organizational structure, its governance and decision-making systems do not have to be centralized. HTX DAO enables Huobi HTX to demonstrate the vitality and competitiveness of a democratic community.
Sun concluded: "Huobi HTX has completed a centralized decade. In the next ten years, we hope to undergo a transformation toward decentralization and achieve lasting momentum—a fully democratized system, complete transparency visible to all, becoming a true People's Exchange."
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