Transition from Cryptocurrency HT to "HTX DAO" Progresses | HTX launches conversion service

Delve into the comprehensive transformation from HT to HTX DAO in the cryptocurrency sphere.

This article provides a detailed look at the transition process, HTX DAO's establishment as a decentralized autonomous organization, and the implications for HT holders and the broader digital asset market.

Beginning of the Transition Process to HTX DAO (HTX)

Cryptocurrency exchange HTX (formerly Huobi) has been issuing its own token known as "HTX Token (HT)." However, there is now a transition to a new token named "HTX DAO (HTX)," which includes procedures for converting from HT to HTX.

Originally known as the "Huobi Token," the HTX token (HT) is listed on several cryptocurrency exchanges. Therefore, it is imperative that HT holders understand the changes underway.

Recently, HTX has made multiple announcements regarding "HTX DAO." This article will clearly introduce the details of these announcements.

What is HTX DAO (HTX)?

HTX DAO, established on January 18, 2024, is a Decentralized Autonomous Organization (DAO). HTX functions as a governance-enabled platform token.

The HTX Token, associated with HTX DAO, has various features. Specifically, it can be used for "fee discounts, exclusive access to features and services, and participation in decentralized governance."

A Decentralized Autonomous Organization (DAO) operates without specific owners or managers, advancing projects or businesses.

Generally, policy decisions are made through voting by individuals holding a type of cryptocurrency known as a "governance token."

HTX DAO is one such decentralized autonomous organization, and the HTX cryptocurrency functions as a governance token within this system.

On January 19, 2024, cryptocurrency exchange HTX announced its participation in the HTX DAO as an ecosystem builder. Subsequent announcements have included topics like "listing of HTX tokens" and "exchange of HT and HTX."

Cryptocurrency Exchange HTX Announces "Transition to HTX"

On January 20, 2024, cryptocurrency exchange HTX announced the "listing of HTX DAO, support for the conversion from HT to HTX, and the phased discontinuation of HT-related services."

The conversion from HT to HTX is targeted at HT holders who voluntarily choose to convert their HT to HTX. This conversion will be available at the cryptocurrency exchange HTX from January 22, 2024, at 8:00 AM (UTC) for one year.

Various features provided by the traditional exchange token "HT," such as fee discounts, will be transferred to "HTX."

The announcement also includes the discontinuation of services such as "fee discounts with HT" and "HT's spot trading & P2P trading."