Crypto exchange HTX, formerly known as Huobi, has revealed the initiation of a new decentralized autonomous organization (DAO) named HTX DAO. Supported by TRON founder Justin Sun, the DAO aims to be a platform where pioneering concepts and transformative projects come to life.
— HTX (@HTX_Global) January 18, 2024
Governance with HTX Tokens
The governance of HTX DAO will be managed through HTX tokens, signifying a broader utility beyond the exchange platform. HTX DAO emphasizes the versatility of HTX tokens by reserving a portion for voluntary conversion from the HT token, emphasizing the distinct functions of the tokens.
HTX DAO Features and Proposals
While the specific objectives of the DAO are yet to be fully clarified, the DAO’s description suggests a mechanism where members can present initial proposals on the HTX DAO forum. The nature of these proposals remains unspecified, leaving room for speculation about their association with the HTX exchange or Huobi ECO Chain (HECO).
Liquidity Incentives on Sun.io
The official HTX DAO website teases a compelling 30% Annual Percentage Yield (APY) for contributors to the HTX/TRX pool on Sun.io, a TRON-powered platform for token swapping and liquidity mining. However, details such as the timeframe and requirements for this APY are not explicitly outlined.
HTX Token Holder Benefits
HTX DAO underlines the advantages for HTX token holders, stating that they can benefit from both the DAO and various privileges on the HTX exchange. This integration aims to allow users to actively participate in both decentralized finance (DeFi) and centralized finance (CeFi) ecosystems. Nevertheless, the specific details regarding the privileges associated with the exchange remain undisclosed.
As HTX DAO unfolds, the crypto community awaits further clarity on its objectives and the broader impact it may have on the evolving landscape of decentralized organizations.