Huobi HTX Q2 Trading Mining Achieves Remarkable Results: $9 Million in $HTX Burned, Continuously Enhancing Platform Value
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Huobi HTX Q2 Trading Mining Achieves Remarkable Results: $9 Million in $HTX Burned, Continuously Enhancing Platform Value
This destruction event is part of Huobi HTX's deflationary strategy and a fulfillment of its commitment to users.
Navigating Web3 tides with focused insightsOn July 16, Huobi HTX announced that all $HTX tokens repurchased from the second-quarter trading mining event have been fully burned. The total amount burned was 7,791,971,428,156 $HTX, equivalent to approximately 9,000,000 USDT (on-chain hash value for the burn: 79d65bb23e6172da8a5caeb61ca43f67513e023c347c557e117532566bd142af). This $HTX burn helps regulate market circulation, increase scarcity, drive stable value growth, and strengthen holder confidence. Meanwhile, this action also demonstrates Huobi HTX's commitment to its users and community, as well as its firm belief in the platform's long-term value and sustainable development.
For more details: https://www.htx.com.cm/zh-cn/support/54975441179013
In Q2 2024, Huobi HTX hosted six trading mining events involving BTC and ETH, with over 20,000 participants, resulting in the repurchase and burning of nearly 8 trillion $HTX tokens. Going forward, Huobi HTX will announce the volume of $HTX repurchased and burned from the previous quarter’s trading mining activities on the 15th day of the first month of each quarter, continuously enhancing the openness and transparency of the trading mining program.
Notably, Huobi HTX's trading mining initiative aims to enhance user trading experience, reduce trading costs, and enable wealth appreciation, while effectively reducing the circulating supply of $HTX. Users can participate by trading designated spot or perpetual contract pairs to share in a substantial daily reward pool. During the event, all transaction fees generated from eligible spot trading pairs, as well as fees from perpetual contract trading pairs by registered participants, are allocated toward $HTX buybacks.
Huobi HTX stated that since its launch, the trading mining program has received extensive participation and positive feedback from users. This burn marks part of Huobi HTX's deflationary strategy and reflects its fulfillment of commitments to users. Upholding principles of transparency and openness, Huobi HTX will publicly disclose full details of all burn events, enabling users and investors to monitor $HTX circulation in real time and further strengthening trust in the platform. Additionally, the ongoing buyback and burn of $HTX tokens forms an integral part of both Huobi HTX and HTX DAO's ecosystem development. Both parties are committed to building a healthy, sustainable digital asset trading ecosystem and ensuring its long-term prosperity.
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