HitBTC, one of the longest-standing digital asset trading platforms with over eight years of history and offering over 800 trading pairs, is launching its own native utility token, the HIT token, to become the foundation of the HitBTC ecosystem and provide incentives and rewards to the exchange traders and ecosystem contributors.
The launch of the new HIT token is geared towards enhancing the overall users’ trading experience, developing the HitBTC platform, and growing its community. Holders of HIT are granted exclusive benefits including up to 45% discounts on trading fees, commission-free HIT trading pairs. With a growth of the platform, HIT will extend the utility within the HitBTC ecosystem, offering a lower interest rate on margin loans, and higher leverage on margin trading.
Token Supply
HIT is an ERC20 token with a maximum supply of 2,000,000,000 tokens.
Token Allocation:
30% (600M) of the total HIT tokens is sold publicly. There is no pre-sale of HIT to private investors. All 600M tokens are sold in open markets.
20% (400M) of the total HIT tokens is allocated for the founding team.
50% (1Bn) of the total HIT tokens is allocated for the development of the HitBTC ecosystem.
Future plans for HIT
HitBTC will be adapting the HIT token to provide users with even more benefits in the future including higher affiliation program rebates, discounted trading fees for the upcoming futures contracts, higher staking rewards, governance rights on future token listings, and many more.
The platform will also spend from 20% and up of its monthly trading commission revenue (not more than 50% of the total emission) to buy back and burn HIT tokens from users. This will eventually reduce HIT’s circulating supply down to 1Bn in order to create a token ecosystem that rises in demand and value over time.
About HitBTC
Founded in 2013, HitBTC maintains its status as one of the major trading powerhouses in the digital asset space. With an unparalleled track record of reliability from day one, when digital assets have been available only for a narrow circle of enthusiasts, we have developed an industrial-grade trading platform. Today we offer access to some of the industry’s deepest and most liquid books across a wide range of digital assets.
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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