On March 11, 2024, Bitcoin officially broke through $70,000, once again reaching a historic high. Huobi HTX also timely launched "negative trading fees" for Bitcoin. What's going on?

Transaction fees are ubiquitous in the crypto market

Whether it's a centralized exchange or a decentralized exchange, over-the-counter trading or on-exchange trading, fiat trading or crypto-to-crypto trading, traditional finance or decentralized finance, transaction fees are indispensable in any trading scenario.

Trading platforms charge fees for several main reasons: first, there are operational maintenance costs, both CEX and DEX have system maintenance and other operational costs; second, DEX needs to reward liquidity providers; finally, fees can also prevent malicious trading, and for DEX, they can appropriately limit flash attacks and increase the cost of attacks.

Trading BTC with zero transaction fees and receiving $HTX

On the evening of March 11, Huobi HTX announced the start of trading mining testing.

During this period, as long as you trade the BTC/USDT spot trading pair, not only will the transaction fees be waived, but you will also receive extra $HTX, with Maker orders being able to receive up to 105% back.

For example, if A places an order to buy BTC, and after the transaction, pays a fee of 10U, after starting trading mining, the platform will return $HTX worth 10.5U. The returns are settled on the same day as the trading.

This means that trading BTC not only incurs no transaction fees, but also receives some extra $HTX, and it is settled on the same day. A daily return of 5% is actually very cost-effective, already surpassing all financial products.

Why can Huobi HTX provide extra returns on transaction fees?

As the official defines it as mining, there must be additional rewards. If costs and income are balanced, miners would not have much interest in trading. So why can Huobi HTX not only fully refund transaction fees, but also provide additional rewards?

First, Huobi HTX does not apply trading mining to all pairs, but only selects Bitcoin trading pairs, and Huobi can still generate income from other trading pairs.

Second, the form of fee refund is $HTX, and HTX DAO already has a budget for ecological empowerment, so it will not put too much pressure on Huobi in the short term.

Finally, an increase in trading volume will enhance the influence of the Huobi platform, bringing in more users. In fact, it is also a marketing strategy, and marketing will inevitably incur some costs.

As it is a marketing strategy, it is recommended that all users participate in the trading mining activities early on, because all mining activities yield high returns in the early stages, and as more users participate, the returns will inevitably decrease.

In conclusion, HTX trading 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.

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