On November 24, 2024, HECO Chain, the proprietary blockchain of the cryptocurrency exchange HTX (formerly Huobi), officially announced its plan to cease operations on January 15, 2025. This move marks the end of one of the pioneering blockchains in the trend of exchanges building their own blockchains.
According to the plan, HECO Chain will remove the following HRC20 tokens:
- HRC20ETH
- HRC20TUSD
- HRC20LINK
- HRC20USDC
- HRC20UNI
- HRC20SHIB
- HRC20HBTC
- HRC20USDT
Users holding these assets need to send them to the specified wallet address on the official HecoDAO website before January 10, 2025 to participate in the asset conversion.
The HRC20 assets will be converted at a rate determined on November 10, 2024, with each 1 USDT equivalent to 1 point. After the January 10, 2025 deadline, the user's conversion points will be aggregated and converted into HTX at a maximum rate of 1 point = 200,000 HTX.
The distribution of HTX will begin on January 15, 2025 and continue over 12 phases. The HTX tokens will be sent directly to the TRON wallet that users have registered previously. Note that only accounts with at least 20 points are eligible to receive HTX.
