The Russian division of Huobi announced the re-issue of HTR exchange tokens. The update will occur on the night of Friday, June 7, and will continue until 12:00 Moscow time.
As representatives of Huobi Russia told BlockchainJournal, the re-issue process will not technically affect users, coin holders will keep their denominations in their accounts, and old HTR tokens will be removed from circulation and forever frozen.
The updated version will add functionality for burning tokens, interacting with other contracts and conducting eirdrops for large-scale marketing programs.
“37.5% of tokens from the total issue will go on sale, the rest will be frozen and will go to form an insurance and blockchain investment fund, ” explained the CEO of Huobi Russia, Andrei Grachev.
Users will be able to pay for Huobi Russia services with HTR token, which includes:
- Getting airdrops tokens hosted on Huobi Russia;
- Payment listing tokens;
- Paying for IEO related services;
- Payment of packages for trade commissions;
- Payment consulting and marketing services.
At the first placement of exchange tokens, which took place on December 25, 2018, the starting price was 1 HTR = 0.65 USDT.
The base rate of the updated placement is planned at the level of 1 HTR = 1 USDT, and the size of the issue is 200 million tokens. HTR holders are eligible to participate in primary ICOs listed on the exchange. This gives a significant advantage to traders who want to buy cryptocurrency at the very start of sales.
The HTR listing is scheduled for early September 2019, after which Huobi Russia will send 15% of the profits to the redemption of coins from the secondary market. The purchased coins will be burned, which, as the company expects, will help to maintain a steady rate.
Recall that in May, Huobi Group launched a regulated OTC platform for institutional and large private investors.
BlockchainJournal.news
BlockchainJournal.news
