HitBTC, a long-standing cryptocurrency trade firm, has formally introduced the launch of HIT, its native utility token. HitBTC plans for the HIT token to turn into the inspiration of its trade ecosystem.
Firstly, HIT shall be used for incentives and rewards to trade merchants and ecosystem contributors.
The HIT token offers holders unique buying and selling advantages together with:
- Buying and selling price reductions as much as 45%.
- Decrease commissions for HIT buying and selling pairs.
Furthermore, HIT will prolong the utility throughout the HitBTC ecosystem, providing:
- Decrease margin curiosity and better leverage limits on margin buying and selling.
- HIT as collateral for margin and futures buying and selling.
- Decreased charges for upcoming futures contracts.
- Increased affiliation program rebates.
- Increased staking rewards.
- Governance rights on future token listings.
HIT is an ERC20 token; with a most provide of two,000,000,000 tokens.
- 30% (600M) of HIT tokens are offered publicly. There is no such thing as a pre-sale of HIT to non-public buyers. All 600M tokens are being offered within the open market.
- 20% (400M) of HIT tokens are allotted for the founding crew.
- 50% (1B) of HIT tokens are allotted for the event of the HitBTC ecosystem.
Token Burn Mechanism
HitBTC will spend from 20% and up of its month-to-month buying and selling fee income (no more than 50% of the overall emission) to purchase again HIT; then burn them on a month-to-month foundation. The token burn will cut back the circulating provide of HIT till there are solely 1B HIT tokens left.
“We’re eternally grateful on your belief in us during the last eight years. Our dedication as prior to now is to proceed to supply dependable and safe providers that go above and past our shopper’s expectations. It’s our pleasure to ask everybody to affix us in creating an ever higher trade with the HIT token.”
– The HitBTC Staff
These can learn the complete particulars about HIT on this HitBTC whitepaper.