HT Operations Monthly Report (July 2022)
Dear Valued Users,
Greetings from Huobi! We thank you for your continuous support and trust in HT.
The HT progress report is provided here for your reference.
Ⅰ. HT Data and Events Calendar
1. On HT Data
In July 2022, Huobi Global burned 751,000 HT (about 3.417 million USDT), which was 11.77% less than that of June. As of August 15, 2022, the number of burned HT combined has reached 294.686 million.
The HT deflation rate of the month is 0.34% Calculation Function: HT deflation rate = (751,000 HT burned amount * (15%/20%)）/ previous period's total quantity in circulation 163.864 million HT
Existing Supply: 205,314,038 HT
Current Circulation Amount: 163,300,995 HT
Number of HT holders: increased 0.3% in Jul. 2022
Note: Existing Supply = Current Circulation Amount + Total Locked Amount
To better understand HT’s burning mechanism, please read:
Transaction Hash: 0x49621d7e6c4470d798ea16caeed7b9826d5846184fc22bee0006b754ed1c174d
2. Institutional Data
TokenInsight: Huobi Global’s turnover exceeded $86.43 billion in July 2022
According to the data by TokenInsight, the turnover of Huobi’s spot and derivative products in July exceeded $86.43 billion.
(Note: The above data is independently published by a third-party research institution. Huobi Global is only citing the third-party data and is not legally responsible for such information.)
Ⅱ. Huobi Business Updates
- On July 18, Huobi Global held the event PrimeBox X CHZ Celebration and offered a 2,000,000 USDT Prize Pool!
- In July, Huobi Global listed the following cryptocurrencies - MBX, DKS, PANDO, AEGIS, ZNT, MEDAMON, MEV, SAO, SRT, VELO, TAVA, KUBE, OGV, LIKE, TDX, LBL, MOVEZ, MUDOL2, POOLZ, ANTEX, FIU, EVMOS, AZERO, ATM, UOS, JUV, PSG, OG, XETA, SOLO, KLV, TOMS, anv, DFI, DYP, zed, MRS, etc., as well as dApps, Cex and IEO platforms, NFTs, Metaverse, DeFi, GameFi, and Web 3 tokens.
- PrimeList continued in July with increased participation rates from our users. MUDOL2 drew more than 11,000 users and AEGIS over 14,000 users. Participants only need to meet the daily average transaction volume requirements within the specified time of the activity to automatically qualify for the events. Returns from the activity also increased steadily, with a maximum increase of 10 times.
- From July 11 to July 15, Huobi Futures held a Russian Derivatives Trading Contest where participants shared 20,000+ USDT in rewards and 10,000 USDT in trial bonus. From July 17 to July 29, Huobi Derivatives Trading Contest was hosted with a prize pool worth 3 million USDT.
- Huobi Earn offers users flexible and fixed saving products of HT with 0.2% APY. In July, users have obtained cumulative earnings of 1.77 million USDT on Huobi Earn, of which 4,920 USDT were from HT products.
- In July, Huobi USDT-Margined Perpetuals support a total of 147 tokens, while offering up to 200x leverage for BTC and ETH.
Ⅲ. Media Coverage
1. NASDAQ: Huobi Group Granted MVP Provisional Approval from Dubai Virtual Assets Regulatory Authority. Commits to setting up regional headquarters in the Emirate
Huobi Group announced that it has been granted MVP provisional approval by the Dubai Virtual Assets Regulatory Authority (VARA) on July 15, 2022, while it undertakes the process of applying for a license, in accordance with VARA requirements. The license will enable Huobi Investment FZE, Huobi’s UAE-based entity, to offer a full suite of virtual asset exchange products and services, within the parameters set by VARA’s specialized “test-adapt-scale” model.
2. Cointelegraph: Huobi Global announces Cube investment as part of Web3 ecosystem strategy
JUL 6, 2022——The United States Financial Crimes Enforcement Network (FinCEN) has finally granted a Money Services Business (MSB) license to HBIT Inc, a subsidiary of the Huobi crypto exchange. This, according to Huobi, is a permit to lay the foundation for the future provision of crypto-related services in the US. The announcement also brings it closer to its strategic goal of “globalization and compliance.”
Determined to embrace the global community with a more open and inclusive heart, HT is adopting English as the official language in its bulletin-board publications going forward to reach out to more users.
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Until next month, cheers!
August 15, 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 digital asset, product, or promotion on Huobi Global. Prices of digital assets are highly volatile and trading digital assets involves risk. Please read our Risk Reminder text here.