$HTX’s buyback and burn process is generally conducted through "Trade to Earn" events. All fee income generated from "Trade to Earn" will be used entirely for $HTX buybacks. The repurchased HTX tokens will be fully burned on a quarterly basis.
What is "Trade to Earn"?
"Trade to Earn" is a reward event initiated by HTX, where users can earn $HTX by trading. As of July 2024, HTX has rolled out seven phases of the "Trade to Earn" event.
Participating in "Trade to Earn" allows users to earn rewards in $HTX during the event period. Users can achieve this by trading designated crypto pairs on HTX platform, with the reward ratio generally ranging from 102% to 110%.
For example, let’s assume BTC/USDT is the designated trading pair. If User A incurs a trading fee of 1,000 USD during the event, they will receive 1050 USDT in $HTX, given that the reward ratio is 105%.
The reward ratios for Maker and Taker orders are often different, with Maker orders generally receiving higher rewards. For more details, please refer to the latest event announcement.
For more information about "Trade to Earn", please click the next tutorial.
What is $HTX buyback?
$HTX buybacks refer to the practice of using the fee income earned from trading designated pairs in the "Trade to Earn" event to purchase $HTX on the secondary market, thereby reducing the overall supply of HTX tokens.
For the Spot "Trade to Earn" event, the platform's all fee income generated from the designated spot trading pairs during the event period will be fully used for $HTX buybacks. In other words, if BTC/USDT is the designated trading pair, all fee income generated from this pair—regardless of whether users participate in the "Trade to Earn" event—will be used for $HTX buybacks.
For the Futures "Trade to Earn" event, only the fee income from registered users trading the designated futures pairs during the event period will be used for $HTX buybacks.
To view details of $HTX buybacks per phase and daily quantities, please refer to the $HTX Buyback Details for "Trade to Earn" Event.
What is the $HTX burning?
Burning is a common practice in the crypto market, involving the transfer of tokens to a "burn address". These tokens are effectively locked up and removed from circulation, making them essentially destroyed.
For $HTX, burning means that the HTX DAO will transfer repurchased HTX tokens to a TRON "burn address". This process typically takes place around the 15th of the first month of each quarter.
On July 16, 2024, HTX DAO completed its first token burn. The burn transaction records are available on the blockchain. The next burn is scheduled to take place on October 15, 2024.
How many HTX tokens have been burned?
To date, HTX DAO has executed one token burn, with a total of 7,791,971,428,156 HTX tokens burned.
This burn has reduced the circulating supply of $HTX to 372,204,228,571,844.
How can the burning of HTX tokens be verified?
The buyback and burning of $HTX are fully open and transparent. You can verify the buyback records through the platform's API and check the burning by querying the on-chain burn address provided in the announcement $HTX Buyback Details for "Trade to Earn" Event.
Summary
Burning $HTX via the "Trade to Earn" event aims to motivate users to engage in trading. As users perform more trades on the HTX platform, they'll receive more rewards, which in turn leads to more HTX tokens being burned. It facilitates mutual empowerment, benefiting both the platform and its users.
