Huobi Burns $23 million HT in Aug. 97% More than July

In August 2020, Huobi Global burnt 4.872 million HT (about $23.30 million). The month on month burnt HT has increased by 97%. As of September 15, the burnt HT has amounted to 219.17 million HT.

The amount of HT Burnt in August has increased by 97% compared to July, and Huobi Global has pioneered the launch of “DeFi Mining” and “Yield Farming” products.

Circulation deflation rate for the month is about 1.63% (Note: Circulation deflation rate = total quantity destroyed in this period: 4.872 million HT* (15%/20%) / previous period’s total quantity in circulation: 223.592 million HT).

Total in circulation: 280,829,000 HT.

Total in circulation: 219,937,000 HT.

Number of HT users in possession: increased by 4.89% compared to July.

HT August Calendar

1.  As of September 15, Huobi Global Website has launched the pioneering products “DeFi Mining” and “Yield Farming.” Huobi has launched 6 phases activities and the amount of locked HT has reached 33.3 million HT.

As of September 14, Huobi DeFi mining and Yield Farming have distributed approximately 3 million USDT to event participants.

2. Huobi Global Website has completed the voting projects FastTrack Phase 12 and 13 – to burn all HT income from ANKR (Ankr), STPT (Standard Tokenization Protocol), DF (dForce), SAND, and others. (The Sandbox). The total burnt amount has reached 64,242.5 HT.

3. To promote a more prosperous overall decentralized market and to continue to provide quality assets to the DeFi market, Huobi announced that it will continue to provide H-series assets to the ethereum ecosystem. Huobi has already launched the HBTC as the staking asset for Bitcoin on the ethereum blockchain in February 2020, and the future assets to be released in the second batch include mainstream digital assets such as DOT, LTC, and BCH. Huobi will continue to listen to community voices and provide more cross-chain assets for Ethereum in the future.

4.  Tap Global, a European compliant encrypted payment platform, announced that its Tap MasterCard and Wallet app will accept HT as a payment option. This means that HT users can use their Tap MasterCard to pay at millions of merchants in over 210 countries and territories, and the Tap MasterCard & Wallet App will also support two-way exchange with HT for European users using fiat such as GBP and Euro.

Institutional Analysis

CryptoCompare: Huobi has become the new king of the digital asset derivatives industry

In response to the changes in the derivatives market, CryptoCompare released a detailed review of the performance of major digital asset derivatives exchanges in Q2 in its Q2 Exchange Development Report in August. The comparison found that in Q2, Huobi has been promoted to be the new king of the digital asset derivatives industry by virtue of its strong performance in delivery contracts and perpetual contracts, and Huobi’s leading position is expanding.

(Note: The above report is independently published by a third-party research institution, and only part of it is quoted by Huobi Global Website, which does not fully endorse the view of the whole report.

The total amount of spot transactions on Huobi Global Station rose 105.9% from last month, and Huobi Global  has become the main trading market for several popular digital assets.

Huobi Business Development

1.  In August 2020, the total spot trading volume, futures trading volume and perpetual trading volume of Huobi Global have increased by 105.9%, 43.3% and 66.9% respectively from the previous month.

2.  In August, 19 DeFi and Boca ecological track assets such as NEST, JST, COMP, YFI, YFII and RING were launched on the Huobi Global, 9 of which were world premieres. According to CoinMarketCap data, the Huobi Global has become the main trading market for several popular digital assets. Market analysts believe that Huobi’s advantages in terms of overall volume, liquidity and security have made it not only the largest exchange for mainstream digital assets, but also the main market for most small and medium-sized digital asset tradings.

3. Huobi perpetual swaps have covered a total of 49 mainstream digital assets, including 18 popular high-quality DeFi assets such as LINK, COMP, CRV, etc., and support users to operate on the Web terminal, API terminal and APP terminal, up to 125x multiples. Among them, BTC, ETH and LTC support real-time settlement function, and the part of profits (after deducting floating losses and occupied secured assets) can be withdrawn at any time.

4. Huobi Mining Pool has launched yield farming products and opened BTC and USDT stakings. Users can earn BTC and USDT by locking BTC and USDT, respectively. 200 BTC of BTC can be earned in 51 hours and 40 minutes.

Huobi Events

1. On Aug. 5, 2012, Zhu Jiawei, COO of Huobi Group, attended the “2020 Cointelegraph Chinese Greater Bay Area – International Blockchain Week” and delivered a keynote speech on “DeFi vs CeFi: Who is the future credit bridge of the industry”. The goal is the same as that of CeFi, but the path to achieve it is different.

2. On August 3, Huobi announced the establishment of DeFi Lab, which unites the global community to build DeFi ecology. On August 17, DeFi Labs announced the establishment of the Global DeFi Alliance to unite the global industry and promote the goal of making DeFi more inclusive and financial better; the “DeFi Prophet” activity was held from August 25 to August 31 on Huobi Global, with a total of 80,000 people participating in the activity, and two of them were selected to participate. This is an event organized by Huobi Global to accelerate the layout of DeFi, promote the connection of projects and users, improve service quality and enhance the interest of the market.

3. YFII and YFI were the first to list on the Huobi Inno Hub on August 23rd. The Inno Hub is a special channel for high potential projects at the forefront of the blockchain industry, dedicated to exploring the next generation of blockchain potential applications and innovative projects that will reshape the global economy. It is dedicated to exploring the next generation of blockchain potential applications and innovative projects that will reshape the global economy. The Huobi Inno Hub is open to accept diverse features in an eclectic and open manner, and encourages innovation and exploration through flexible and changing project online formats, promoting the stable construction of the entire blockchain ecosystem and the flourishing development of high potential projects in the blockchain industry.

4. RING was launched on the Huobi Boca Ecological Board, which continuously explores high potential Boca ecological projects and provides users with the most comprehensive Boca ecological board investment services from spot, leverage to contract, becoming a one-stop trading platform for investing in Boca ecology.

5. Huobi Sustainable Contract Master Contest officially started on August 18 and has lasted for 6 days, with more than 100,000 people competing. The final champion won the championship in this Huobi Sustainable Contract Master Contest with the total income of 19,467.16% from sustainable contracts, took the Porsche Grand Prize, and finally chose to exchange for HT equivalent.

6.  Huobi Mining Pool was the first to connect to Medalla, an ethereum 2.0 end testing network, and said that as one of the ethereum verifiers, Huobi Mining Pool will continue to follow its development and support ethereum ecology in the future.

7. Japan Security Token Offering Association (JSTO) is a financial product retrieval industry association recognized by Japan Financial Services Agency.

Media Coverage

Cointelegraph

1. Huobi Launches Global DeFi Alliance To Merge East and West

2. Following HBTC, Huobi Global to launch the H-token series on Ethereum

3. Huobi to sell world’s most popular IoT crypto miner MXC M2 Pro

4. Huobi Global Announces Measures to Strengthen Its Presence in Russia

5. Huobi Meets ‘Loud and Clear’ Demand for Crypto Savings Accounts

6. Huobi Launches Global DeFi Alliance To Merge East and West

CoinDesk

1. Huobi Launches Crypto Saving Products to Compete With DeFi Yield Farming
2. FATF Compliance Effort Adds Huobi, Bitfinex and Tether to Governance Task Force
3. Huobi Futures to Launch Options Trading This Week, Joining Throng Challenging Deribit
4. First Mover: Huobi Takes on OKEx in Futures, Opening New Front in ‘Chinese’ Rivalry
5. Huobi and OKEx Battle for Supremacy in China

6. Huobi Launches Consortium of DeFi Providers and Platforms With MakerDAO, Compound

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