Crypto exchange HTX (formerly Huobi) announced the launch of a decentralized autonomous organization (DAO). All holders of HTX exchange tokens will be able to participate in the management of the project. As representatives of HTX DAO write, its establishment, aimed at exploring the prospects of the blockchain ecosystem, “will open a new chapter in decentralized governance.”
According to the official website, HTX DAO invites all HTX token holders, including ecosystem developers and partners, to participate in the project. Voting on participant proposals will be carried out within the network with protection from unauthorized access and falsification, which will ensure transparency, efficiency and fairness of the governance mechanism.
In the future, HTX DAO will also act as a liquidity provider for the HTX and Poloniex exchanges. The organization offers a yield of up to 30% per annum for supplying liquidity to the HTX/TRX pool on the Sun io platform in the TRON network, the funds will be used to develop the ecosystem.
The head of the HTX and Poloniex crypto exchanges, as well as the creator of the TRON blockchain, is Justin Sun. Last November, both trading platforms were hacked in turn for a total of over $210 million. The businessman undertook to cover the losses and conduct an airdrop for users after the exchanges were fully restored.
In turn, TRON attracted the attention of analysts as the most popular blockchain among terrorists. In response, Sun stated that the project team is committed to combating terrorist financing, but its top priority remains maintaining decentralization, ensuring the safety of assets and ensuring instant, accessible and reliable transactions.
At the beginning of December, the number of TRON users exceeded the 200 million mark. By the end of December, TRON took first place by a large margin in terms of the number of active users in 30 days (43 million).
In December, India's financial intelligence agency called for blocking the HTX website for violating AML laws, and Apple removed the exchange's application from the local App Store.
