What is Huobi?

Huobi, founded by Leon Li, launched the Huobi Token (HT) on January 22, 2018, to reward users with reduced trading fees. This initiative aimed to enhance value for its primarily Asian user base and followed similar loyalty token models introduced by other exchanges. The HT token has a total supply of 500 million, with 300 million tokens distributed during a 15-day period to users who purchased discounted service packages.

The token distribution began on January 24 and concluded on February 7, 2018, with rapid sales indicating high demand among users. Of the total supply, 60% is currently in circulation, while 20% is allocated for user rewards and platform operations, and another 20% is reserved for the team over a four-year vesting period. Huobi's strategy for the token launch was to recover user engagement following significant regulatory impacts on trading volumes in China.