Huobi Token(HT) burn 2,113,181 HT ($21,483,000)

Purpose of token burn

According to HT Operation Monthly Report (November 2021), Huobi Global burnt 2.11 million HT (about 21.483 million USDT), which is 24.23% less than that in October. Huobi Global will continue to update HT's token burn log to ensure that all token burn activities are carried out in an open and transparent fashion.

Token burning means taking a certain number of tokens out of circulation which directly affects the dynamics of supply and demand. By reducing the overall number of tokens in circulation, it makes tokens scarcer and boost the cryptocurrency\u2019s valuation.

HT tokens has been burned under the voting results for Plan B, in that 15% of quarterly revenue is burnt and another 5% of quarterly revenue is allocated to repurchase and burn a portion of HT Team Incentive Rewards. The voting was held in 2019, ensuring that the burnt amount no longer re-enter the secondary market.

Details

Token: HT

Amount (Tokens): 2113181.0

Value in USD: 21483000.0

Announcement Type

Reporting Results

Other relevant information

• Block Height: 13808224
• Transaction hash: 0xf0391769951eaa0621fee0c46c61fde523c381ec067a9c7ded531164d1454d96
• Status: Success
• Timestamp: Dec-15-2021 06:56:10 AM +UTC
• Transaction Fee: 0.003276645 Ether

As of Dec. 15th, 2021, the number of burnt HT combined has reached 288.865 million.

The HT deflation rate of the month is 0.94%.

Calculation Function: HT deflation rate = (2.113 million HT burnt amount * (15%/20%)\uff09/ previous period's total quantity in circulation 169.252 million HT

Applicable Date

2021-12-15