As you all know, Juzuo’s main business at present is asset recovery.
But the scope of asset recovery is actually very broad. You can understand it as all assets that are out of your control need to be recovered.
Depending on the different business scenarios, the target audience may be large or small.
For example, the liquidation and recovery of exchanges have always accounted for a high proportion of the cases handled by Juzuo, because exchanges are a rigid demand, and there are still many assets deposited in exchanges that have not been withdrawn today.
The liquidation of Huobi is an event that cannot be ignored in the history of cryptocurrency, because almost everyone in the cryptocurrency circle had downloaded Huobi at that time.
The story of Huobi is very complicated, so we will not talk about it today. Let’s first talk about an awkward product sandwiched between HTC and the old Huobi - HECO.
heco's past and present
The heco chain was developed based on Ethereum and was a masterpiece created by Huobi’s Du Jun during his tenure. At that time, due to the rise of defi, user assets quickly flowed from exchanges to the chain, and even triggered a coin withdrawal movement that year.
The reason is simple - there is profit when the coins are kept on the chain, but no profit when they are kept in the exchange.
So everyone is withdrawing coins to the chain to play DeFi.
This scared the exchanges enough, and they started to build their own public chains and open up their ecosystems to try their best to retain user funds and prevent them from outflowing.
That year, Huobi launched heco, Binance launched bsc, OK launched okt, and other second-tier exchanges also started to build their own public chains, and it can even be said that they were panicking about building public chains.
Because everyone is competing, if you don’t build a public chain that others are building, then the users and the ecosystem will leave. Not only will you lose users and assets, but you won’t even have the chance to get at the table later.
Therefore, the mainstream narrative of the exchange at that time was that there was an exchange in the left hand and a public chain in the right hand, and the main point was that the money was still there, it was just in a different pocket.
But later it was discovered that when there were more chains, there were simply not enough projects to support the ecosystem, so many chains eventually died out.
Currently, only BSC has relatively good activity, and the remaining chains are basically in a state of maintenance and operation.
After introducing the historical background, let’s return to today’s protagonist, the heco chain.
At that time, Huobi was in its heyday and the heco chain was also extremely prosperous. Huobi was very smart to issue a lot of heco chain assets at this time, referred to as h chain assets for short, because there is an h in front of each asset.
The source of h-chain assets is mapped from the main network assets, which can also be understood as coming from Huobi.
For example, if you have BTC and you want to play on H-chain, you have to change it to HBTC.
At the same time, hBTC and BTC can be exchanged back and forth, and the exchange rate is basically stable at 1:1.
Under normal circumstances, there would be no problem with the h-chain assets, but the problem was that Huobi later cleared them out.
Then the heco chain will be very embarrassing, and the h chain assets will be even more embarrassing.
By the time it was sold to Justin Sun, the exchange rate of the H-chain assets had fallen below the normal exchange rate, and he started to lose money and flee.
The reason is very simple, that is, Li Lin and Justin Sun did not reach an agreement.
The original assets, that is, the main chain assets, are all on Huobi.
You can understand it as the main chain is an asset and the h chain is a liability.
The assets are on Li Lin's side, and the liabilities are on Sun Yuchen's side.
If Justin Sun wants to take over heco, it means he will have to bear a huge amount of h-chain debt.
Do you think that with Li Lin's mentality, he would take out such a huge amount of original assets?
By the same token, do you think that given Justin Sun’s cunningness, would he be stupid enough to take this risk?
Then the assets of the heco chain began to flee frantically and liquidity dropped rapidly.
Until now, there has been almost no liquidity.
But the problem is that many people still have heco assets in it.
Because of the loss of liquidity, there is nowhere to go except being able to transfer between the heco chain.
Therefore, the recovery of the assets of the old Huobi is not only the recovery of the assets of the old Huobi exchange, but also the exchange of many h-chain assets.
HECO chain assets looking for new solutions
Most of the h-chain asset retrievals in the current market are being done at extremely low prices. You give them h-chain assets, and they give you Us from other chains. In this way, your assets trapped on the h-chain can be freed, but the price is very heavy.
Some time ago, when Ju Zuo came into contact with this business, he just saw someone in the group buying it at a price of about 20% off, and during that period he also helped him to match a few business deals.
From Juzuo's perspective, the purpose of doing this business is to help fans find an escape route. I don't think about making money from this, so I basically just create a group for them to connect, and I don't make any profit from the difference.
But then I realized something was wrong.
Someone tried to trick me and asked me what discount I would get. To save trouble, I told him it was more than 20%. Then the person said I was heartless.
I was a little confused at the time, until today, when Ju Zuo finally solved the secret.
And this secret will directly make those who collect h-chain assets lose their jobs.
Just tonight, someone sent me a private message in the background, saying that he could buy u at a 35% discount.
I thought this was a good thing, at least it was better than selling it at 80% off, so I searched the chat records and told the people who didn't sell it because the price was too low that I now have a better price.
In the end, they said they had already stepped out.
I was confused at that time - how did you get out?
Do you understand?
When seeing this sentence, Ju Zuo was stunned for a few seconds, then after he reacted he exclaimed that it was awesome because he took advantage of the situation.
It's just one sentence, but there are some principles in it:
1. You are holding heco chain assets, right? But as mentioned before, heco chain is based on Ethereum with a different shell. They are the same team, so you can use heco chain to transfer directly to Ethereum chain.
2. HTX, which is the exchange after Brother Sun took over, supports the recharge of ERC chain assets.
3. That is to say, you copy the erc20 recharge address of the htx exchange and transfer the money directly from the heco chain to the erc20 chain of the htx exchange.
4. But there is a problem here. Essentially, it is also a wrong connection, so the customer service will ask you to fill out a form, register your transfer and recharge address, hash and other information, and then deposit it into your account.
After going through this process, wouldn’t your assets be transformed from abandoned hecos into tradable erc20 assets?
This way you can get out of this situation, so why should you sell your h-chain assets at a low price?
But everything has a price, there are two main ones:
First, HTX does not support mainstream currencies such as BTC, ETH and USDT, but only supports some small currencies, such as DOGE, ADA, DOT, LTC, XRP, BCH and other altcoins.
Second, even if you support these altcoins, you still have to pay a very high premium, which is basically doubled. For example, the doge on the h chain is 0.65, and it is as high as 0.7.
Suppose you have 10,000 U on the heco chain, you must first buy 10,000 U at a price of 0.65, and then recharge it to the htx exchange through the erc20 channel to be credited to your account. The quantity remains unchanged, but the price is halved.
All in all, your heco chain assets will be discounted by half.
But it is much more cost-effective than selling it to others at 20% to 30% off and letting them make the money.
So I am really sorry, because the appearance of this article will definitely enable many people who can only sell their assets at a low price to cash out in better ways, but at the same time it will also make it impossible for those who did this business before to do it.
I am deeply sorry, but if I don't expose this matter, someone else will do it in the future.
In the end, I still have to admit defeat to Brother Sun. Using this method, he not only doesn't have to clean up heco's mess, but he can also make money by using htx's erc20 recharge channel.
Finally, let me remind you that if you can understand the process, you should also pay attention to the price on the chain, because it is the liquidity pool on the chain, so if many people go to redeem at the same time, everyone’s loss will be very high. You can also see that the liquidity on the entire heco chain is actually very poor.
So you can go and exchange it, but there is no need to fight for it, because the more people rush to exchange it, the higher the cost will be, and the greater the wear and tear you will suffer.
You can take a look at the exchange rates of other currencies and choose a better time and currency to exchange.
Juzuo can only help you up to this point.
This is quite interesting. Ju Zuo originally wanted to tell him a better exchange rate, but unexpectedly he uncovered a huge secret. This could help many people, but it also ruined many people's jobs.
Sometimes the world is so wonderful. If I don’t take the initiative to ask him, he won’t tell me about this.
So, everything is arranged by fate.
You and I, just go with the flow.
So can you please stop asking me for my rights?
I am Ju Zuo, a man who focuses on recovering cryptocurrency assets and helping you get rich.
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