Huobi and Tron DAO promise to exchange Tron tokens (TRX, BTT, JST, SUN, HT) at 1:1 if FTX withdrawals fail
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Dear TRON and HT communities,
The FTX liquidity crunch has caused great concerns over asset security. I'm heavyhearted to witness how this crisis has progressed. The events at FTX have dealt a blow to the virtual assets industry. This crisis may weigh heavily on the industry, damaging its integrity and raising outsiders' concerns over its transparency. TRON DAO, I, and Huobi have received significant amounts of feedback from TRX, BTT, JST, SUN, and HT holders who hope to withdraw their assets from FTX. My team and I are extremely despondent to witness how events have unfolded.
This is a critical moment that none of us can turn a blind eye to.
A speck of dust during such times weighs as heavy as a mountain when it falls on ordinary people. Indeed, in the virtual assets world, each one of us is an ordinary citizen. As such, every player should contribute during times of hardship. We have been empowered with the ability to help one another, and all hands on deck is the solution.
After careful consideration, we’ve decided to permanently support users who wish to redeem their Tron tokens (TRX, BTT, JST, SUN, HT) deposited on the FTX platform at a 1:1 ratio.
You may fill in this form below and record your Tron and Huobi token holdings in a truthful manner:
Please make sure your asset details and Huobi account are correctly recorded. We will use the information in this form to liaise with FTX regarding the withdrawals of TRX, BTT, JST, SUN, and HT tokens.
In other words, no matter how things evolve, Tron DAO and Huobi will do their best to support the exchange of the TRON tokens (TRX, BTT, JST, SUN, HT) deposited on the FTX platform at a 1:1 ratio, including during the worst case scenario that we all know may happen. TRX, BTT, JST, SUN, and HT in the FTX platform weren't, aren't, and will never be "Happy Beans". A "Happy Beans" case scenario will never happen here under our watch.
Today’s decision forms part of our determination to assist the industry's efforts for the sake of its future. In the interest of all Tron tokens (TRX, BTT, JST, SUN, HT) holders, we will always provide our full support to FTX, to the best of our abilities. We also fully support Binance and FTX as they embark on this acquisition effort while the former conducts the necessary due diligence and capital injection. Only by standing in solidarity can we withstand these trying times.
We fully intend to closely monitor this situation’s development. We reaffirm that it is our overriding principle to protect the interests of all Tron token (TRX, BTT, JST, SUN, HT) holders. We will make the utmost efforts to protect our community. Wherever you are, whenever you need us, and whatever happens, bear in mind that the Tron ecosystem and its strong, diligent, and reliable team will always be by your side. Community First, User First. The Tron and Huobi teams always act in accordance with this principle.
Today’s decision has been made for the protection of Tron tokens holders' interests, to ensure the security of their assets. Huobi and Tron DAO reserve the right to final interpretation.
Huobi and Tron DAO
November 9, 2022
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Huobi Global reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and Huobi Global makes no recommendations or guarantees in respect of any virtual asset, product, or promotion on Huobi Global. Prices of virtual assets are highly volatile and trading virtual assets involves risk. Please read our Risk Reminder text here.