### What is Huobi?

Huobi is a prominent global cryptocurrency exchange established in 2013 by Leon Li, a former Oracle developer. The platform allows users to trade a vast range of cryptocurrencies, providing various financial services such as trading, digital asset management, and blockchain technology development. Huobi is known for its strong focus on security, efficiency, and user experience, along with its Huobi Token (HT), which serves as the native utility token of the exchange.

### How does Huobi work?

Huobi operates its own blockchain, known as Huobi Chain, which employs a Delegated Proof-of-Stake (DPoS) consensus mechanism. This blockchain is designed to support decentralized finance (DeFi) applications and is particularly focused on regulatory compliance, offering a framework that includes regulatory nodes. Huobi Chain enables the deployment of smart contracts and supports the development of financial services like tokenized assets, identity verification, and decentralized exchanges.

### What are the potential use cases for Huobi?

Huobi Token (HT) has various use cases within the Huobi ecosystem:
- **Trading Fee Discounts**: HT provides discounts on trading fees for users on Huobi Global.
- **Governance**: HT holders can participate in decision-making processes through voting on platform initiatives.
- **Rewards and Incentives**: HT can be used for loyalty and community incentives, including exclusive participation privileges in events like Huobi Prime.
- **DeFi Applications**: HT serves as a base currency on Huobi Eco Chain (HECO), facilitating decentralized applications and projects.
- **Strategic Collaborations**: HT supports partnerships and projects within the broader blockchain and cryptocurrency community.

### What is the history of Huobi?

Huobi was founded in 2013 and quickly established itself as a leading cryptocurrency exchange in Asia. Significant growth occurred in 2014 and 2016, with expansion driven by strategic partnerships and the development of new services. To comply with changing regulations, Huobi relocated its headquarters to Singapore and increased its global presence. A key milestone was the launch of Huobi Token (HT) in 2018, designed to provide additional benefits and incentives to the platform's users. Over the years, Huobi has adapted to the evolving regulatory landscape and expanded its technological capabilities, including the development of the Huobi Eco Chain for supporting DeFi initiatives.

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