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On July 16, HTX announced that all $HTX repurchased from "Trade to Earn" events in the second quarter of 2024 had been entirely burned. The total amount burned was 7,791,971,428,156 $HTX, equivalent to approximately 9,000,000 USDT (Transaction Hash: 79d65bb23e6172da8a5caeb61ca43f67513e023c347c557e117532566bd142af). The burning of $HTX regulates the market's circulating supply, increasing the asset's scarcity, fostering stable value growth, and bolstering the confidence of $HTX holders. Moreover, this initiative also underscores HTX's strong commitment to its users and the broader community, affirming the belief in the platform's long-term value and sustainable development.
More details: https://www.htx.com.cm/en-us/support/54975441179013
During the second quarter of 2024, HTX held 6 "Trade to Earn" events with BTC and ETH, attracting participation from over 20,000 users. These events led to the repurchase and burning of nearly 8 trillion $HTX. In the future, HTX plans to disclose on the 15th day of the first month of each quarter the amount of $HTX bought back and burned from the previous quarter's "Trade to Earn" events, aiming to enhance transparency and openness in event operations.
HTX's launch of "Trade to Earn" is intended to enhance user trading experiences, minimize trading costs, and facilitate wealth appreciation, while effectively reducing the circulation of $HTX. By trading designated spot/perpetual futures pairs, users will have the opportunity to share in a daily mega prize pool. During the event period, all fee income generated from both designated spot trading pairs and registered users trading designated perpetual futures pairs will be fully utilized for $HTX buybacks.
HTX‘s "Trade to Earn" event has seen widespread user participation and has received positive feedback since its launch. The burning of $HTX is a key component of HTX's deflationary strategy and a commitment fulfilled to its users. HTX upholds transparency and openness by publicly disclosing all details of the token burning process, ensuring that users and investors are informed about $HTX's real-time circulating supply and fostering trust in the platform. Furthermore, the buyback and burning of $HTX are integral to the collective efforts of HTX and the HTX DAO to cultivate a healthy and sustainable digital asset trading ecosystem. Both entities are dedicated to preserving and promoting the long-term prosperity of this ecosystem.
About HTX
Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3.
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