Huobi HTX and TRON have announced their membership in the HTX DAO ecosystem. Huobi HTX will also donate 50% of the platform's revenue to support the liquidity of the HTX DAO ecosystem, helping the development of HTX DAO.
On January 18th, members of the Huobi HTX Global Advisory Committee, including Sun Yuchen, Chris Lee, the best executive of Asia Money Hong Kong, Han Feng, co-founder of BeL2 of Elastos, and Kong Jianping, founder of Nano Labs, as well as heavyweight guests from the digital industry and industry media such as PANews and Mars Finance, visited the Huobi HTX Twitter Space. The theme of this Space was "What does the establishment of HTX DAO mean," comprehensively interpreting DAO, the wealth code of HTX DAO, and the new encrypted narrative brought by HTX DAO.
Original Intention: User Trust
Regarding the original intention of establishing HTX DAO, Sun Yuchen stated that in the entire industry, the operation of most exchanges is still extremely centralized, and information such as the listing process is not transparent. Platform tokens only stay at the exchange's income repurchase, and the exchange's public chain platform token handling fee (Gas) destruction and other empowering actions are mentioned lightly. Huobi HTX wants to be a decentralized exchange, a democratic and autonomous exchange, and all of this will be achieved through HTX DAO. HTX DAO can help users deeply participate in the exchange's decision-making, governance, and operation, allowing the exchange to become decentralized.
Regarding the trade-off between cost efficiency and decentralization, Sun Yuchen analyzed that as long as the rules are clear and well executed, the final effect will not be inferior. In addition, decentralization makes the decision-making process clear and transparent, and can withstand historical scrutiny. "By reforming every aspect of centralized exchanges, ensuring that users can fully trust at any stage, and enhancing the transparency of information disclosure, community participants can have confidence in the exchange, which is essential for the long-term operation of the exchange."
Sun Yuchen emphasized that the exchange business model is complex, but the cryptocurrency industry is not lacking in decentralized spirit. As long as a good idea is implemented, he is very confident that it will succeed.
Three Major Operating Strategies
According to Sun Yuchen, the governance token HTX of HTX DAO will be first launched on the TRON, BitTorrent Chain (BTTC), Ethereum, and Binance Smart Chain (BSC), and will be deployed to more blockchains in the future, such as Solana, depending on the situation. In addition, HTX DAO insists on being security-centric and has already passed a security audit by the top security audit company ChainSecurity.
Regarding the future of HTX DAO, Sun Yuchen once stated on his personal social media that HTX DAO should have community decision-making, governance, and operational capabilities, be able to form a Huobi HTX Senate, actively debate and make decisions on the development of Huobi HTX, and be able to come from and go back to the community, making Huobi HTX a truly people's exchange.
During the live broadcast, Sun Yuchen formulated corresponding implementation plans for this great idea:
Maintain HT holders/Huobi HTX users: HTX DAO has taken measures to reserve some HTX tokens for HT token holders to voluntarily convert to HTX tokens, encourage users to use HTX tokens for transaction settlement and fee payment, and provide fee discounts.
Establish DAO members with joint institutions and KOLs to participate in voting to jointly build HTX DAO, and reward through lock-up for long-term cooperation.
Elect representative senators, listen to the voice of the community, initiate proposals or discussions, complete inquiry decisions, and participate in democratic decision-making.
Sun Yuchen revealed that Huobi HTX and TRON have announced their membership in the HTX DAO ecosystem, and Huobi HTX will also donate 50% of the platform's revenue to support the liquidity of the HTX DAO ecosystem, helping the development of HTX DAO.
Continuous Wealth Effect
Regarding the future development of Huobi HTX and how to create a wealth effect, Sun Yuchen responded that in the past six months, Huobi HTX has clearly created new wealth effects, launching multiple tokens with tenfold and hundredfold increases, such as WLD with a 54-fold increase, SEI with a 178-fold increase, SUI with a 206-fold increase, and PEPE with an astonishing 1999-fold increase. Creating a wealth effect is the operational direction that Huobi HTX focuses on. In the future, it will deeply promote around the vision, consensus, and organizational structure of HTX, calling on industry believers to join and empower the wider cryptocurrency community.
In addition, Sun Yuchen also responded to issues of community concern during the live broadcast, such as the combination of HTX with user acquisition, support for voting on inscription coins, and the trend of HTX towards Meme mode.
Sun Yuchen concluded, "Only the community is the true service object of the exchange; only democratic autonomy, innovation, can truly meet the ever-changing needs of this industry; only decentralization can meet our original intention and end point of entering the blockchain industry. I hope that Huobi HTX can become a truly people's exchange, truly allowing every user to become the owner of the platform."
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