A Decade of Drinking Ice, Yet the Passion Remains Uncooled: Huobi HTX Rebuilding the Tower of Babel
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A Decade of Drinking Ice, Yet the Passion Remains Uncooled: Huobi HTX Rebuilding the Tower of Babel
Tomorrow will be a different world, shaped by different people.
Navigating Web3 tides with focused insightsOn January 18, 2024, HTX DAO was officially established.
As a leading decentralized autonomous organization in the blockchain ecosystem, HTX DAO focuses on open finance and decentralized tokenized economies through innovative governance models.
HTX DAO is a visionary and inclusive platform whose envisioned ecosystem is built on inclusivity and cutting-edge innovation. It fosters a democratized and efficient governance model through decentralization, marking a significant step forward in the fields of blockchain and decentralized governance.
Currently, the HTX DAO ecosystem has welcomed 18 key contributors, including Huobi HTX, TRON, Poloniex, BitTorrent, Spark Digital Capital, APENFT, Stratified Capital, JustLend DAO, OIG Group, Double Peak, stUSDT, Zebec, USDD, ANKR, Sun.io, Merkle 3s Capital, WINkLink, and TUSD, spanning various industry sectors. Additionally, Huobi HTX will contribute 50% of its platform revenue to HTX DAO's liquidity pool.
The People’s Exchange, Built by the People! The first exchange operated in a decentralized manner—here it comes!
Huobi HTX, as the first trading platform empowered by HTX DAO, will embark on a path toward decentralized governance—the People’s Exchange, giving Huobi HTX a second life.
Empowered by HTX DAO’s decentralized governance, the Huobi HTX exchange will break down centralized governance barriers and return control to every user, allowing users to become true owners of Huobi HTX.
In the future, listing rights, management authority, and decision-making power at Huobi HTX will all be transferred to HTX DAO and returned to the community. With full empowerment from HTX DAO, Huobi HTX will achieve genuine democratization.
Why is Huobi HTX striving to become the first People’s Exchange, the first decentralized exchange?
Sun Yuchen, member of Huobi HTX Global Advisory Committee and founder of TRON, published a long post on his personal social media account sharing his thoughts on exchange operations:
“Must centralized exchanges remain centralized? In practice, yes—they almost always are. But just because something has always been done this way, does that make it right? Whether judged by original intent or ultimate vision, exchanges should not be centralized. CZ’s eventual departure from Binance seems to silently signal an impending revolution and transformation for centralized exchanges. In this post-CZ era, perhaps all professionals operating centralized exchanges must reflect: what form, what rules, what ideals should guide how we continue running our exchanges?”
This marks the beginning of a centralized exchange embracing decentralization. There may not be one single answer to “how to operate an exchange,” but there is a core direction:
Return to community self-governance.
You Are Freedom: When we’re tired of the noise from centralized giants, how should we act?
This is an irreversible social experiment.
In the cryptocurrency space, despite only over a decade of development, Bitcoin—the once symbol of free will—has now become a favorite among financial institutions. Various centralized behemoths have placed everyone within their carefully crafted narrative networks.
When we grow weary of injustice, discrimination, lies, and scams—and lose trust in these centralized giants—can we return to the初心 (original aspiration) of the crypto world, revisit Satoshi Nakamoto’s spirit, and sing again for freedom?
Locke said: Man is born free.
When some cheer at the U.S. government approving Bitcoin ETFs, others surely scoff.
Returning to the crypto world’s original vision, gathering people who absolutely defend free will:
Wielding the power to change the world, in the name of justice, awaken the “silent majority,” revive what has been forgotten—fairness, justice, freedom…
“Looking across the entire industry, operations of centralized exchanges remain highly centralized. Huobi HTX should become the first People’s Exchange, the first decentralized exchange, the first democratically self-governed exchange—and this will be achieved through HTX DAO.”
This will be a victory for free will, a return of community rights.
· On January 29, 2024, the limited release of 2,024 People Cards launched and sold out in under 2.5 hours.
· On January 30, 2024, Huobi HTX announced support for HTX DAO’s $HTX airdrop to TRON chain holders of TRX and USDT (including exchange addresses).
· On January 31, 2024, Huobi HTX distributed its first epic-scale $HTX airdrop incentive.
Future HTX DAO listing votes are merely the first step; $HTX holders should ultimately become the platform’s true owners.
On the journey of exploring decentralized governance, HTX DAO will unite all possible forces. Platforms including Huobi HTX, Gate.io, Jubi, and Poloniex already support $HTX.
With great sincerity, inviting everyone to jointly welcome a new era.
In this brand-new era, holding $HTX means owning a piece of an exchange.
Adhering to HTX DAO’s principles of openness and decentralized governance, Huobi HTX will boldly explore along the path of “The People’s Exchange, Built by the People.”
Beyond representative elections and community voting for listings, plans also include democratic forums, and more transparent proof-of-assets/private-key custody mechanisms.
In a recent online event, Sun Yuchen stated: “Ideally, HTX DAO’s governance token $HTX will be distributed to contributors and users of the exchange. We will also regularly convene a People’s Congress with heads of various departments at Huobi HTX, enabling users to truly feel they are owners of the exchange, ensuring the exchange wins through transparency and community governance, gradually entering the People’s Exchange 2.0 era.”
Transferring power, shared prosperity, building consensus—Huobi HTX 2.0, the People’s Exchange, has arrived. Amid the momentous year of 2024, Huobi HTX’s exploration into decentralization is bound to leave a profound mark.
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