HTX has introduced the HTX DAO, taking a strategic leap towards decentralized operations.

Cryptocurrency exchange HTX Today marks the official launch announcement of HTX DAO which highlights their ambition to shift towards a decentralized framework paired with a governance model driven by community involvement. This positions HTX as a pioneer among larger cryptocurrency exchanges embracing decentralization.

Timed perfectly with the 10-year anniversary of the exchange, this announcement underscores the commitment of HTX's founder, Justin Sun, to foster continuous growth for the platform.

In a recent update shared on social media platform X, Justin Sun revealed that HTX DAO will initiate the listing of the platform's native currency. He mentioned that all holders of HTX tokens will be given a chance to take part in the governance of the project. HTX Going beyond the basic practice of using the platform’s currency strictly for revenue repurchases,

Justin articulated a broader vision where the HTX currency evolves as an asset class with significant implications. This includes deliberate strategies such as the diminishing of fees and the destruction of gas fees, branching into deeper layers of the exchange’s governance and operational decisions. Justin Sun He noted that HTX DAO will empower the community with decision-making abilities in the future. This DAO community is envisioned to foster representatives who are genuinely committed to Huobi and the broader blockchain sector. These representatives would actively participate in the decision-making process, tackling forthcoming challenges head-on.

Justin Sun also anticipated the necessity for governance structures within HTX DAO, outlining a plan for establishing the Huobi HTX Senate. Members of this Senate would engage in constructive discussions about Huobi's future direction, providing insightful feedback consistent with community aspirations.

Furthermore, HTX DAO will empower users by enabling them to vote using the platform's tokens. The long-term vision sees HTX currency holders evolving into actual owners of the platform, reinforcing a focus on inclusivity and democratic participation within the HTX ecosystem. Through their token holdings, users can play an active role in shaping decisions and eventually gain a sense of ownership in the platform.

He pointed out that the operations of centralized exchanges continue to be centralized. HTX aims to lead as the first truly decentralized, democratic, and autonomous exchange.

Founded in 2013, HTX has transformed from a simple cryptocurrency exchange into a comprehensive ecosystem that includes various blockchain-related sectors such as digital asset trading, financial derivatives, wallet services, research, investment, incubation, and more. During last year's 10th-anniversary celebrations, the name was officially changed from 'Huobi' to 'HTX.'

HTX’s Ongoing Transformation 

The platform undertook a token burn process, incinerating around 2.96 million Huobi Tokens (HT) in Q4 2023. This initiative aimed to enhance the platform's transparency and ensure it aligns with prevailing industry norms.

Recently, the exchange completed The recent announcement about the launch of HTX DAO underscores HTX's commitment to decentralization, emphasizing its intention to better serve its community.

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