TechFlow news — According to an official announcement by HTX DAO, HTX DAO has completed the third-quarter 2024 HTX token burn on October 15. During this quarter, HTX DAO burned approximately 15,811,683,954,403 HTX tokens, with a total value exceeding $21.25 million.
Based on feedback from the HTX DAO Committee and community members, and given sufficient liquidity of the HTX token, HTX DAO decided starting from this quarter to directly burn the portion originally allocated for liquidity contributions. This burn consists of two parts: the first part comprises 9,801,342,915,734.8688 HTX tokens previously designated for liquidity contribution; the second part includes 6,010,341,038,668.8688 HTX tokens repurchased through transaction mining.
The burn operations have been executed on-chain, and users can review detailed information via the following transaction hashes:
First burn hash: dbf31d030d7664888a5955484aa6e6d78ca2e0f7023245d31c568cd0e33df286
Second burn hash: 085b4fe14fc1686f1b24c26a69de4a99b72c52d9cc531ec083400a801df91191
According to the platform's burn schedule, HTX DAO will regularly burn 50% of Huobi HTX’s quarterly revenues. The next burn is scheduled for January 15, 2025. This updated burn mechanism reflects community input and significantly improves burn efficiency.
