Huobi Token HT to SolarCoin SLR Exchange

Crypto Pair Details: HT to SLR

Huobi Token HT

Huobi, the third-largest cryptocurrency exchange in the world, recently announced and launched a new currency. The Huobi Token (HT) rewards exchange users for their loyalty with lowered transaction fees while also carrying its own value in tradable pairs against popular currencies. The hope was to bring greater value to Huobi’s millions of users, mostly located in Asian countries. The launch of the Huobi Token follows in the footsteps of other loyalty-building tokens that other exchanges have launched. The first and most successful of these tokens has been Binance Coin (BNB). The creation of BNB secured Binance’s place as the world’s leading exchange. It offered discounted trading fees in exchange for customer loyalty, primarily functioning as a loyalty rewards system. Huobi officially announced its intentions to launch a new token on January 22, 2018. Over the course of 15 days, Huobi would distribute 300 million HT (60% of the total supply) to its pro users who purchased a discounted service package. Each morning, a new batch of HT would become available on a first come, first served basis. Huobi declared this token distribution scheme, “not an ICO,” due to the nature of the offering. Users are buying a specific service package, part of which includes HT that give a discount toward trading fees. The exchange launched the Huobi Token as part of an overall strategy to recover its user base after tightening regulations in China severely restricted cryptocurrency trading. In an interview with CoinDesk, Leon Li, Huobi’s founder, revealed that Chinese rule changes had decimated the trading volume on Huobi by 95% between September 15 and November 1, 2017. The HT token distribution began on January 24 and wrapped up on February 7, 2018. Each day of the distribution, millions of tokens sold out in mere minutes after going on sale. At that point, 300 million HT had been distributed to Huobi Pro members who bought packages. That’s 60% of the total supply currently in public circulation. Another 200 million HT, 40% of the total supply, was set aside. 20% goes toward user rewards and platform operation. The other 20% is vested for four years and constitutes the team reward. Huobi isn’t the first exchange to issue its own token. Binance (BNB), Bibox (BIX), KuCoin (KCS) and Coss (COSS) have all issued their own tokens as well.

SolarCoin SLR

Solarcoin is a Scrypt based alternative digital currency and its innovation comes from the secondary proof of work reward: the Solar Proof of Work. Green solar energy producers are entitled to receive one SLR for every MWh electricity generated. In order to claim a Solar Proof of Work reward, solar plant owners must submit 3rd party verified energy generation certificates such as a Solar Renewable Energy Certificate (SREC) or equivalent country specific documentation. All Solar Proof Of Work rewards will be stored as transactions in the blockchain. The supply of SLR comprises of the following: - The Mining Pool: 105 million Solarcoins (0.1%) to be publicly mined over the next 40 years. All publicly mined Solarcoins represent historically generated and unclaimed solar electricity. - The Generator Pool: 97.5 billion SolarCoins (99.4%) are currently stored in the OCA non-circulating generation pool account. These will be exchanged for Solar Proof of Work claims of solar electricity generation submitted over the next 40 years at the rate of 1 SLR per MWh of solar energy. - The Genesis Pool: 500 million Solarcoins (0.5%) are stored in the genesis pool account for environmental charities, early volunteers, advisers, builders and maintainers of SolarCoin infrastructure. Genesis pool circulation is capped so that it will never represent more than 5% of total Solarcoin in circulation.

SOURCE: COINGECKO

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