The HTX exchange will cease the operation of the HECO blockchain from January 15
The closure of the blockchain implies the cessation of node operations and technical support. To preserve their funds, HECO users will need to transfer all HRC-20 standard tokens to the addresses specified on the official HECODAO website by January 10, 2025.
Crypto assets will be converted into points at the rate as of November 10, 2024. Points will be tied to the wallet addresses linked to Heco user accounts. All points received will be converted into HTX tokens, which will be sent to the specified addresses on the TRON network.
The HECO blockchain was launched to compete with other layer one networks such as Ethereum and Binance Smart Chain. The solution was intended for fast and cheap transactions in the decentralized finance (DeFi) sector.
The cessation of the blockchain may be due to fierce competition with alternative networks Solana and Avalanche, as well as layer two solutions for scaling the Ethereum network. Internal strategic changes at HTX may also have influenced the closure of the blockchain.
