Huobi Token (HT)
Huobi Token (HT) is the native token of Huobi, the third-largest cryptocurrency exchange in the world. It was launched to reward Huobi users with lowered transaction fees and can be traded against popular currencies. HT was created as part of Huobi's strategy to recover its user base after regulatory changes in China impacted cryptocurrency trading volume on the exchange.
Huobi distributed 300 million HT (60% of the total supply) to its pro users who purchased a discounted service package. The distribution occurred over 15 days on a first come, first served basis. Another 200 million HT (40% of the total supply) was set aside for user rewards, platform operation, and team rewards.
Similar to other loyalty-building tokens like Binance Coin (BNB), Huobi Token aims to create customer loyalty by offering discounted trading fees. Huobi's launch of HT followed in the footsteps of other exchanges that issued their own tokens. HT holds the potential to bring greater value to Huobi's millions of users, especially in Asian countries.
Pax Dollar (USDP)
Pax Dollar (USDP) is a stablecoin issued by Paxos, a financial technology company focused on mobilizing assets at the speed of the internet. Paxos received a charter from the New York State Department of Financial Services, making it a regulated trust company with fiduciary powers under the Banking Law. USDP is fully secured by the U.S. dollar and is used as a settlement solution to eliminate risk and simplify transactions.
USDP has gained significant support from over 20 exchanges and OTC desks, including Binance, OKEx, Gate.io, ZB, KuCoin, and DigiFinex. These exchanges offer USDP as an alternative to Tether. Paxos has quickly become widely adopted in the cryptocurrency space.
While Huobi Token focuses on loyalty rewards and reduced transaction fees, Pax Dollar aims to provide a stablecoin solution fully backed by the U.S. dollar. Paxos has gained recognition for its regulatory compliance and transparent operations. USDP offers a secure and regulated alternative to other stablecoins in the market.