In recent years, with the rapid growth of the cryptocurrency market, various innovative trading models have emerged. One of the most notable models is transaction mining. Whether it's the previous CEX transaction mining, or NFT markets like Looksrare's transaction mining, X2Y2's order mining, or Blur's point mining, they are all essentially transaction mining models. Transaction mining, as a mechanism based on platform tokens for returning individual trading fees, aims to incentivize users to actively participate in trading, increase platform liquidity, and promote the activity of the cryptocurrency market.
- Background and Origin
Transaction mining was first implemented on the FCoin exchange in 2018. FCoin imitated the distribution rules of Bitcoin mining, setting aside 51% of the platform's token FT as the mining reward pool. Through "mining (trading on FCoin)," FT was gradually unlocked. Once 51% of the FT was fully distributed, the "mining" would automatically terminate. The FT obtained by users is the token produced under the transaction mining model. At the same time, 80% of the exchange's income is also distributed to FT holders. This model essentially belongs to a type of ICO, as users participating in mining need to pay with tokens such as BTC, ETH in exchange for FT, which is no different from the conventional ICO fundraising. It must be said that FCoin's innovative mechanism and model quickly made it the focus of the market and achieved unprecedented success, which is difficult to achieve through a general ICO. Subsequently, various platforms have imitated this gameplay.
- HTX Transaction Mining + Buyback and Burn, Creating an Ultimate Deflationary Model
To enhance the liquidity of the HTX trading platform and empower the HTX platform token, HTX is about to launch an innovative transaction mining activity and will use all transaction fees for buyback and burn of HTX. It is worth mentioning that HTX transaction mining is not open to all users. Users need to sign up on the activity page and ensure that the rocket value is ≥6000 to participate in mining. The mining rewards are calculated based on the user's contribution fee discount U factor for each order and the closing price of HTX on the mining day. The activity period is from T day 20:00 to T+1 day 20:00, and rewards will be calculated and updated at 12:00 on T+2 day, and users can claim HTX rewards at any time.
More importantly, the transaction fees for all trading mining and non-trading mining on HTX will be used to repurchase and burn HTX. The actual U and BTC trading fees will be repurchased and burned. HTX will be purchased within the exchange every day, and the process will be publicly disclosed, and the tokens will be centrally burned. The process is completely open and transparent, and the community can supervise it. Furthermore, the non-trading mining income will also be used to burn HTX. Through continuous repurchase and burning of HTX, not only has the token circulation been effectively reduced, but it has also increased the stability and value of the token. This burning method will have multiple impacts. Firstly, by increasing liquidity, it will provide users with a better trading experience, reduce trading costs, and improve trading efficiency. Secondly, locking a portion of the tokens will promote the stability of the token, attract more investors and users to participate in ecosystem construction, and promote the healthy development of the ecosystem. Most importantly, this burning method also brings more profit opportunities for HTX DAO users. Through participation in liquidity mining and staking rewards, users can obtain more token rewards and increase their wealth.
- Objectives and Benefits of the Activity
The purpose of the transaction mining activity is to incentivize users to actively participate in trading, thereby increasing platform liquidity and enhancing market activity. Its benefits are mainly reflected in the following aspects:
Wealth Effect: Users can obtain significant wealth effects through mining, that is, obtaining rewards through trading to increase wealth.
Promote Platform Development: Transaction mining activities can attract more users to participate in trading, thereby increasing platform trading volume, improving the platform's trading structure, and promoting the continuous development of the platform.
Universal Benefits: All participants have the opportunity to earn rewards, regardless of the size of their trading volume, ensuring inclusiveness and fairness.
Enhanced Market Activity: By increasing trading activity, market activity is enhanced, promoting the healthy development of the cryptocurrency market.
- Impact and Prospects
HTX transaction mining, as an innovative platform token trading and empowerment model, has injected new vitality into the HTX trading platform and the cryptocurrency industry, providing users with more opportunities to participate in trading and earn profits. With the continuous development and improvement of this model, it is believed that it will make a positive contribution to the long-term prosperity and stability of the cryptocurrency market.
As an emerging trading model, HTX transaction mining, with its unique mechanism and attractiveness, is attracting more and more cryptocurrency traders, HTX users, and HTX holders to participate. As the cryptocurrency market continues to develop, the transaction mining model will continue to innovate and improve, injecting new impetus into the development of the cryptocurrency market and helping the market to develop in a healthier and more stable manner.
Trade with Huobi, registration link: https://www.htx.com.fj/zh-cn/v/register/double-invite/web/?invitecode=ymcx6223&inviterid=11354800
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