Huobi HTX has introduced a public beta for a novel trade mining initiative, open to all users. This program is designed to offer a fresh trading experience and substantial $HTX token rewards. The platform has actively incorporated feedback from the HTX DAO community to shape this offering.
Following the beta, Huobi HTX plans to launch the official campaign promptly, featuring even more generous daily reward pools. Notably, all transaction fees generated from daily BTC/USDT trading will be fully allocated to repurchasing and burning $HTX tokens. This mechanism aims to support a steady appreciation in the token's value.
Understanding Trade Mining
Trade mining is a specialized benefit provided by Huobi HTX, allowing users to share in designated reward pools by trading specific cryptocurrencies. A key feature is that all trading fees are entirely used to repurchase and burn $HTX tokens, supporting the asset's value growth.
This initiative helps enhance the platform's trading liquidity, improves the overall user experience, reduces transaction costs, and increases efficiency. Moreover, by consistently reducing the circulating supply of $HTX, the program boosts the token’s stability and value, attracting more investors and users to participate in the ecosystem.
Most importantly, this burning mechanism creates additional earning opportunities for HTX DAO users. By engaging in liquidity mining, staking rewards, and similar activities, participants can earn more tokens and potentially increase their wealth.
How to Participate
Eligibility Criteria
- The activity is open to all platform users, including market makers and those using API orders.
- Users must successfully register on the event page and have a Rocket Value ≥ 6,000.
Event Timeline
- Public Beta Period: March 11, 2024, 20:00:00 – March 14, 2024, 19:59:59 (UTC+8).
- Daily Mining Cycle: Each day's mining activity starts at 20:00 (UTC+8) on day T and concludes at 19:59 (UTC+8) on day T+1.
- Reward Distribution: Mining rewards are calculated and updated by 12:00 (UTC+8) on day T+2. Users can then claim their $HTX rewards, which have no lock-up period and can be withdrawn at any time.
Key Rules
- Designated Trading Pair: BTC/USDT.
- Reward Calculation: $HTX Reward Quantity = (Actual Fee Paid in USDT) * (Order Reward Ratio) / ($HTX Price at T-day 20:00 UTC+8).
- Reward Caps: Each user has a daily reward limit. Mining rewards will cease to accumulate once either the individual’s daily cap or the total daily pool cap is reached.
Estimating Your Potential Earnings
The daily reward pool is a fixed amount in USDT. During the public beta, the daily pool is set at 2,000 USDT. The total $HTX reward quantity for the pool is calculated based on the token's price at the start of the daily mining cycle.
- Example: If the $HTX price is 0.000002 USDT at 20:00 UTC+8 on day T, and the daily pool is 2,000 USDT, the total $HTX rewards for that day would be 1,000,000,000 tokens.
Individual user rewards are calculated based on the actual fees paid, the order type, and the corresponding reward ratio.
- Example: Using the same $HTX price of 0.000002 USDT, if a user generates 100 USDT in fees from BTC/USDT trades between T-day 20:00 and T+1-day 19:59 entirely from Taker orders, and assuming the reward pool is not exhausted and the user hasn't hit their personal cap, their reward would be: 100 * 102% / 0.000002 = 51,000,000 $HTX.
Trade mining represents an innovative model for token trading and value accrual, offering users broader opportunities to engage with markets and generate returns. As Huobi HTX continues to develop and refine its trade mining program, its unique mechanics are expected to draw more participants, contributing positively to the long-term growth and stability of the crypto market. For those looking to dive deeper into such innovative earning mechanisms, you can explore more strategies here.
Frequently Asked Questions
What is trade mining?
Trade mining is a program where users earn token rewards based on the trading fees they generate. It's designed to incentivize trading activity on a platform while also implementing a token burn mechanism to support the asset's value.
Who can participate in the Huobi HTX trade mining event?
The event is open to all users of the Huobi HTX platform, including those using API orders and market makers. The only requirements are to register on the event page and maintain a Rocket Value of at least 6,000.
How are the $HTX rewards calculated?
Rewards are calculated using a specific formula that factors in the USDT value of the fees you paid, a reward ratio based on your order type, and the price of $HTX at the beginning of that day's mining cycle.
Are the earned $HTX rewards locked?
No, the rewards you earn from trade mining have no lock-up period. You can claim and withdraw them freely once they are distributed on the T+2 day.
What happens to the trading fees collected?
All trading fees from the designated BTC/USDT pair are fully used to repurchase $HTX tokens from the market. These repurchased tokens are then permanently burned (sent to a verifiable burn address), reducing the total circulating supply.
Is there a limit to how much I can earn daily?
Yes, there are two caps in place: a personal daily reward limit for each user and an overall daily cap for the entire reward pool. Mining stops for the day once either of these limits is reached.