#### What is Huobi Token? Huobi Token (HT) is a decentralized digital asset that is native to the Huobi Global [cryptocurrency](https://www.coinbase.com/learn/crypto-basics/what-is-cryptocurrency) exchange. It is built on the [Ethereum](https://www.coinbase.com/learn/crypto-basics/what-is-ethereum) [blockchain](https://www.coinbase.com/learn/crypto-basics/what-is-a-blockchain) and complies with the [ERC-20](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) standard. The value of HT is partly dependent on the reputation of the Huobi crypto exchange, but other factors also influence its worth. Launched in January 2018, Huobi Token serves as a key component in Huobi's strategy to attract new users and expand its platform. The token offers a variety of benefits to its holders, including reduced trading fees on the exchange, voting rights on exchange decisions, and early access to special events. #### How does Huobi Token work? Huobi Token operates as a utility token within the Huobi Global exchange. It is used to reduce trading fees, purchase VIP-status plans for transaction fee discounts, and participate in decision-making processes on the exchange. Huobi Token holders can also receive crypto rewards for seasonal buybacks. To maintain a reasonably stable value for HT, Huobi allocates 20% of its profits for a token buyback program. This approach aims to control [inflation](https://www.coinbase.com/learn/crypto-basics/what-is-inflation) and ensure the token's value remains relatively stable. HT can be traded for other cryptocurrencies at any time, providing flexibility for its holders. #### What are the potential use cases for Huobi Token? Huobi Token has several potential use cases, primarily within the Huobi Global exchange. It can be used to reduce trading fees, making transactions more cost-effective for users. Additionally, HT holders can purchase VIP-status plans, which offer further discounts on transaction fees. Huobi Token also grants holders the right to vote on exchange decisions, providing them with a say in the platform's development. Furthermore, HT holders can receive crypto rewards during seasonal buybacks and gain early access to special events. These use cases make Huobi Token an integral part of the Huobi Global exchange ecosystem. #### What is the history of Huobi Token? Huobi Token was launched in January 2018 by Huobi Group, a leading global player in the provision of financial services in the field of digital assets. The group's founder and CEO, Leon Li, is a proponent of [Bitcoin](https://www.coinbase.com/learn/crypto-basics/what-is-bitcoin) and has a background in computer engineering. Jun Du, Huobi’s co-founder, has a rich history in the blockchain industry and has co-founded several companies. The launch of Huobi Token did not follow the standard [Initial Coin Offering](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/altcoins-and-icos) (ICO) scheme. Instead, Huobi [distributed](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/glossary/distributed) HT [tokens](https://www.coinbase.com/learn/crypto-basics/what-is-a-token) directly to VIP users, and regular traders could buy a package of services with a certain amount of tokens. This method of distributing coins is known as an initial exchange offering (IEO). Huobi Token has a limited total supply of 500 million.