The introduction of a token burn mechanism and the integration of HTX Earn and PrimePool investment products are set to ensure the long-term growth and stability of the HTX DAO (HTX) governance token. This was announced by Liu Ye, spokesperson for the cryptocurrency exchange HTX, on X.
最新进度❤️?
1、$HTX挖矿和理财打通+一币多挖的方案已通过，目前产品方案已完成，本周进入产品评审。具体上线时间等评审结束后同步。2、11月起，将取消平台对$HTX活期理财的补贴，将理财收益调整至常规值。有课代表说说这条信息的含金量吗?#HTXDAO #HTX #火币HTX https://t.co/5fsIbS0msc pic.twitter.com/mtVo7GiQom
— 火币HTX六爷 (@HTX_liuyego) October 28, 2024
Earlier in October, HTX DAO announced a shift from a liquidity provision model to a token burn mechanism.
“HTX will become increasingly scarce, which could lead to an increase in its value. The reduction in supply will make the asset more attractive to investors,” commented Liu Ye.
As of November 2024, the total burn commitments have reached $72.75 million.
The HTX team will also merge the Earn and PrimePool products, allowing token holders to receive rewards from both products simultaneously.
“We plan to implement this mechanism in December. It will enhance capital efficiency and simplify asset management,” stated Liu Ye.
She anticipates that the integration with PrimePool will increase user engagement in mining tokens for new projects.
Additionally, the exchange plans to reduce the interest rate on tokens in flexible yield investment products.
“This will mitigate short-term HTX price fluctuations and ease selling pressure. The adjustment lays the foundation for more stable HTX growth.
The implementation of these initiatives will not only increase demand for the HTX DAO token but also strengthen its market position as a long-term investment tool,” concluded Liu Ye.
HTX DAO is a decentralized autonomous organization launched by the HTX exchange (formerly Huobi) to develop the DeFi ecosystem on the TRON blockchain.
Back in November 4, the cryptocurrency exchange EXMO.com listed HTX. To mark the occasion, the platform will distribute $5000 among users.