Huobi Token (HT) Q3 Buyback Information
As per Huobi Token (HT) buyback plan, Huobi Global will spend 20% of its revenue on buyback and the buyback in the third quarter has been completed (the conversion price of USDT is the closing price on September 30). We hereby disclose the information of this buyback as follow:
I. HT circulation information:
1. Total amount in the market: 317,334,100
Rewards of Point Card purchase: 300,013,500
Marketing promotion: 1,216,500
Employee incentive: 16,104,100
2.Total locked amount: 73,891,300
OTC merchants: 7,255,000
Global Elites: 630,000
Project teams (security deposit): 14,823,000
Huobi Next Voting (previous HADAX 2.0 Voting): 824,200
Key clients benefits: 1,300,000
Ecosystem Fund investment: 932,000
Investor Protection Fund: 48,072,100
3. Current circulation amount: 243,442,800
Total circulation amount = total amount in the market – locked amount
Secondary market buyback: 12,520,200
The secondary market buyback of 12,520,200 HT will be included in the Investor Win-win Fund. As the Investor Win-win Fund did not vote for projects on Huobi Next in the third quarter, the full amount of Investor Win-win Fund of this phase will be airdropped to all HT holders.
The airdrop plan is as follow: Based on the snapshot of HT amount （per snapshot of users’ HT on Huobi Global and Huobi OTC per current market amount）and HT corresponding to HB10 in the user account at 00:00:00 on each day from July 1 to September 30 (GMT+8), Huobi Global will airdrop assets according to users’ share of holding on a daily basis. The airdrop of Investor Win-win Fund will be conducted in three installments. The first airdrop will take place on October 16, and the other two will be on November 15 and December 15 respectively.
Specific calculation method: Asset airdropped to a user = （A1+A2+…A92）/（D1+D2+...+D92）*HT 【A is a user’s holding amount of HT on each day；D is the total HT amount in the daily snapshot】, which means, the amount of the airdrop each user gets=The holding amount of HT of the users in 92 days/Total holding amount of HT at Huobi Global*the distribution amount of HT each month
II. Summary of HT application cases:
1. Huobi Next voting
2. Security deposits of Huobi Next project teams
4. Global Elites
5. Security deposits of OTC merchants
6.Huobi Global Ecosystem Fund
- OTC legal support
8.HT holder benefits
9.Huobi Eco Partner Trading Zone
* More HT application cases will be available soon, please stay tuned.
III. Development plan of Huobi Token in the next stage
- Huobi Chain Global Leaders Election was successfully concluded at the end of September, 2018. This means that, Huobi Token will be upgraded to a global token based on Huobi Chain when the Huobi Chain is launched in 2020. In the meantime, each ecological sub-business will issue ecological sub-tokens based on Huobi Token, which will assist Huobi Group's global business. Currently, the ecological sub-token that was issued is HPT. 20% of HPT will be airdropped to HT holders as rewards. In the future, we will issue more ecological business sub-tokens. Please stay tuned.
2. The setting up of Huobi Next provides a new application scenario for HT holders. In the future, Huobi Chain will create integrated services including issuance, voting, listing, lock-in, regulation, etc. Huobi Next will select projects through voting of qualified investors. HT holders have the following benefits:
(1) Decide whether Huobi Investor Win-win Fund will participate in the voting of Huobi Next projects, and obtain airdrop incentives.
(2) Qualified investors may vote for projects and participate in the decision making of listing.
(3) HT holders can receive airdrops of Huobi ecological projects once they are listed.
3. Given that many users have suggested that quarterly buyback of HT could be replaced by the burning of HT instead of transferring the HT to Investor Win-win Fund, we will hold a voting for HT holders to decide this during 2018 Q4.
Since it was founded in 2013, Huobi Group has upholded the idea of “empower financial services and liberate global wealth” as our mission and “putting users first” as our concept. Huobi Group is committed to offering secure, professional, credible, and quality services. After five years of fighting together with users, Huobi Group has developed into the world's leading financial service provider of digital assets and has taken the digital asset trading platform - Huobi as its core. The ecological nodes within the Group are exchanges in various countries, Huobi Next, Huobi Eco, Huobi Research, Huobi Capital, Huobi Labs, Huobi Pool, Huobi News, Huobi Wallet, etc. Besides, the ecological layout of the whole industry is based on ecological nodes outside the group, which are the ecological partners of Huobi. As the core of the global ecology, HT will have more application scenarios. We hope that more partners can join in the ecology of Huobi, and grow together with us to promote the development of the industry!
October 15, 2018