TechFlow news — On December 15, Huobi released an official announcement stating that as of that day, the total amount of Huobi Token (HT) burned reached 296.02 million, with a remaining circulating supply of 203.98 million, and HT's deflation rate for December was 0.12%. As the HT token burn mechanism continues to operate, the total supply of HT will further decrease. Since Justin Sun, founder of TRON and global advisory board member of Huobi, proposed empowering HT as a core development strategy for the Huobi platform, Huobi has announced several related initiatives, including designating HT as the sole token for participation in the Huobi ecosystem and DMC token subscriptions.
The announcement also stated that the HT token burn mechanism has been upgraded from monthly to quarterly burns, which will officially take effect starting the first quarter of 2023. Additionally, in November, a total of 266,000 HT tokens (approximately 1.782 million USDT) were burned, representing a 15.94% increase compared to October. As of December 15, 2022, Huobi has cumulatively burned 296.02 million HT tokens.
