Written by: TechFlow
Since joining Huobi's Global Advisory Committee, Justin Sun has once again stepped to the forefront, rather than the familiar role of a behind-the-scenes manipulator.
Since Li Lin's exit and the establishment of the new Huobi, Huobi has gradually become the term HTX. Behind the new brand revolution is Justin Sun's great ambition, and the exchange track has always been the home turf for the Chinese.
In January 2024, HTX was officially launched as a dual-token role of HTX DAO and HTX Exchange. Different from the BNB chain + exchange represented by Binance, a sense of compromise and balance is evident in centralized exchanges and decentralized governance.
H stands for HTX Exchange, which contributes abundant liquidity to HTX DAO;
T stands for the TRON network, which is currently the main issuing network for TRC-20 tokens;
X represents the infinite possibilities of ecological development.
The significance of ecological binding is that no matter what channel users use to enter the HTX ecosystem, they will be able to flow seamlessly from stablecoins to exchanges and enjoy unlimited trading freedom.
HTX is born to empower people
Whether you like it or not, Justin Sun's popularity remains high. Interestingly, starting from the English area, in this tweet with millions of views, John Squire expressed his thoughts on HTX.
From the performance of tokens on exchanges to the speed of new asset listings, HTX continues to gain points. The main points of the analysis are as follows:
$HTX’s current trend suggests long-term holding and growth potential, and could be a worthwhile investment if the price reaches around $0.0000016.
HTX has an excellent performance in the first quarter of 2024, with an estimated quarterly revenue growth rate of 42%.
The speed of new activities is fast, with 70 activities carried out in January, 53 activities in February, and 79 activities in March.
More than 85% of the listed tokens on HTX in the first quarter increased by more than 5 times, and some even increased by more than 100 times, such as WIF and GTA.
With reference to liquidity staking, HTX has innovatively designed a staking mechanism. Users only need to deposit tokens into HTX to enjoy staking rewards without compromising user liquidity.
Part of HT's original rights and interests have been transferred to HTX, including offsetting HTX transaction fees, increasing the annualized rate of return of HTX wealth management products, and 1.5 times the prime upgrade speed.
Justin Sun also ensured that 50% of HTX Exchange’s quarterly revenue would be used for “liquidity rewards”, which would be distributed to HTX holders who added liquidity, and that it would have a transaction mining mechanism that would allow it to share the transaction fees of multiple transaction pairs.
In fact, the reason is very simple. The current HTX is the governance token of HTX DAO. It can not only share part of the traditional fee rights of the HTX exchange, but also directly participate in liquidity sharing , combining the dual benefits of CEX and DEX.
However, it should be noted that the future synergistic development effect of HTX and TRX has not been disclosed yet. Empowerment may come, or it may require a long wait.
In the current exchange landscape, HTX is undoubtedly lagging behind, but taking IEO, which has the greatest wealth effect, as an example, HTX's rate of return has always been positive. How to move forward in the future and how to make good use of the exchange's always considerable cash flow business are still waiting for more layout and changes from HTX.
More than just trading, introducing a governance system to an exchange for the first time
If we look back at the governance purpose of HTX DAO, we can find that this is the first time that a mainstream exchange has introduced the DAO mechanism into the exchange governance system , which is obviously different from the current exchange operation process.
In terms of internationalization, HTX has also begun to gradually exert its strength. For example, in niche markets such as South Korea and Turkey, they could only be regarded as dumping grounds by various foreign international exchanges in the past. However, in the design of HTX, exchanges in different languages can also be regarded as an important part of community governance.
For example, you can hold HTX to participate in community governance, contribute liquidity and obtain a share, and make suggestions for the development of HTX DAO, so that decentralization can be achieved through governance and centralization can be achieved through liquidity.
Of course, there is no need to deny that there are KOLs who hold different views and opinions on HTX and Justin Sun, but at least one thing must be acknowledged, that is, Justin Sun’s black and red are also red, and HTX is really listed.
The liquidity of TRX and HTX, the investments here are all real support.
After HTX changed hands, the wealth effect was regarded as the top priority, and the best way to create the wealth effect is to continuously list coins, think about what users think, and worry about what users worry about.
From public chains, AI to Meme, new currencies are all included, and the listing mechanism has been optimized . HTX holders will also have more opportunities to participate in it, and it will no longer be a self-entertainment game for big players.
In terms of the synergy between HTX and stablecoins, the first step has now begun. For example, the decentralized DeFi protocol Sun.io has officially announced that it has become a governance member and partner of HTXDAO. Users can add HTX/TRX liquidity to it, and the ecological synergy, especially the family bucket effect of HTX/TRX/USDT/BTT, is being further exerted.
Ecosystem synergy, inclusiveness
When talking about development and ecology, it all ultimately comes down to governance and tokens. Crypto users, unlike previous Web2 groups, need to respond accordingly based on different interest groups.
Any voice is worth listening to. Although HTX DAO has experienced various criticisms since its establishment, at least the trading volume of HTX is recovering and the market share of TRC-20 USDT is further increasing. Everything is moving in a positive direction.
As the saying goes, I'm not afraid of being scolded, I'm afraid of no one paying attention to me .
Justin Sun is already in his thirties, and it has always been his dream to bring Chinese power into the global market, and the nearest intersection is exchanges and stablecoins.
From the public chain competition in 2017, when Tron successfully established its position, to the competition for stablecoin issuance chains, Tron has become the common daily choice of tens of millions of users by relying on extremely low transaction fees, and has also become the pricing currency and value scale of the entire crypto market.
Justin Sun won the battles of public chain and stablecoin respectively, and the current focus of competition is undoubtedly the exchange track. After the rise of Hong Kong, people found that the liquidity of the exchange is the real treasure, and everything, whether like it or not, must be built on this foundation.
This time, Justin Sun decided to let go moderately and give HTX and TRX back to community members, especially international members. The future of HTX depends on you!
