Huobi Group will be making a significant change to Huobi Token (HT), the Huobi ecosystem’s native token. As per the results of a public vote, HTs bought back by the company will now be burned rather than redistributed.
The community vote, which was open to all HT holders, concluded yesterday with more than 80% or 57,922,944 votes being cast for burning HT after buyback. The option to retain the former model of redistributing the tokens to existing HT holders received around 20% or 13,701,827 of all votes. As a matter of policy, Huobi dedicates 20% of its quarterly revenue to buying back HTs.
Huobi Group’s decision to hold a public vote was prompted by requests for changes by members of the HT community and is intended to help ensure that the community has a say in HT’s evolution.
Huobi Group will announce details of its plan to implement the changes soon.
More information can be found here: https://www.huobi.br.com/en-us/htvote/