On February 2nd, the HTX DAO 2024 and the People’s Exchange Launch Ceremony were held in Singapore. This press conference marked the beginning of Huobi HTX’s decentralization and also signaled that the People’s Exchange will become its core spiritual connotation.
At the event, Sun Yuchen, core supporter of HTX DAO and member of Huobi HTX Global Advisory Committee, attended and delivered an important speech, interpreting the first People’s Exchange. At the same time, discussions on the governance of HTX DAO and the People’s Exchange were conducted with the HTX DAO Governance Committee, ecological participants, and industry media.
HTX DAO: Empowering the Community
Sun Yuchen pointed out that in order to prevent tragedies like FTX and Mt. Gox from happening again, only a decentralized governance model can open up the ceiling of asset scale and guarantee the long-term security of the exchange users’ assets in the industry’s continuous growth. Decentralization is also the only way to enable the blockchain and exchange industry to enter the trillion-dollar asset scale. HTX DAO will lead the industry’s evolution and create a new paradigm for protecting user asset security in the exchange industry.
It is reported that HTX DAO was officially established on January 18th and is a leading decentralized autonomous organization in the blockchain ecosystem, focusing on open finance and decentralized tokenized economy. The name embodies its characteristics and strategic direction as a decentralized autonomous organization:
“The ‘H’ symbolizes Huobi HTX Exchange, emphasizing its role as the largest liquidity contributor in the HTX DAO ecosystem; ‘T’ represents TRON, symbolizing the technological innovation that drives the development of the HTX DAO ecosystem; ‘X’ represents transformation and potential, bringing together the core beliefs of the HTX DAO vision. ‘X’ also represents the numerous well-known entities that constitute the cornerstone of the DAO ecosystem, which will ultimately become an indispensable part of the HTX DAO ecosystem.”
Sun Yuchen stated that what Huobi HTX wants to do is to create a decentralized exchange, a democratic and autonomous exchange, and all of this will be achieved through HTX DAO. HTX token holders will have the power to vote for listing, question, and make decisions, assisting Huobi HTX in realizing the path of decentralization and eventually becoming the true owner of the platform.
HTX DAO Empowers Huobi HTX with a Second Life
At the ceremony, Sun Yuchen stated that HTX DAO will give Huobi HTX a second life and lead its development in the next decade through decentralized governance, ensuring its continued healthy operation like a cultural heritage.
According to his introduction, based on HTX DAO and HTX token, Huobi HTX will retain its centralized operational structure while giving birth to decentralized governance, branding, and decision-making frameworks, demonstrating the vitality and competitiveness of a democratic community.
In Sun Yuchen’s view, HTX DAO will possess community decision-making capabilities, governance capabilities, and operational capabilities. It will be able to establish a Huobi HTX Senate, actively debate and make decisions on the development of Huobi HTX, and involve the community in the process, making Huobi HTX a true People’s Exchange.
It is worth mentioning that in addition to Huobi HTX, projects/institutions such as Ankr, Spark Digital Capital, Double Peak Capital, Zebec, Merkle 3s Capital, TRON, BitTorrent, JustLend DAO, Poloniex, Sun.io, Spark, Stratified Capital, stUSDT, APENFT, etc. have joined the ranks of HTX DAO ecosystem builders. At the same time, as ecosystem builders, including Huobi HTX, TRON, BitTorrent, APENFT, etc., will donate funds to the HTX DAO ecosystem liquidity, jointly supporting the development of HTX DAO.
Sun Yuchen concluded that Huobi HTX has gone through a centralized decade and hopes to achieve decentralization in the next decade, realizing a mechanism of complete democratization and transparency visible to all – a true People’s Exchange.
It is reported that this press conference has received extensive attention from the Huobi HTX community and the cryptocurrency market. Web3 leading institutions such as Fireblocks, HashKey, Bithumb, Paradigm, and industry media reporters from The Wall Street Journal, The Korea Times, FT Chinese, The Straits Times, Golden Finance, PANews, etc. attended the launch ceremony.
HTX DAO