HTX Announces HT to HTX Token Conversion and Migration of Benefits

• HTX DAO introduces $HTX, replacing $HT, with conversion services starting January 22, 2024.
• Benefits of $HT to be migrated to the new $HTX token on February 2, 2024.
• “Early conversions yield more favorable rates,” HTX DAO informs its users.

This article details the upcoming conversion of HT to HTX tokens by HTX DAO, outlining the process and the migration of benefits from $HT to $HTX, set to take effect in February 2024.

Introduction of HTX DAO and $HTX Token

HTX DAO is set to revolutionize its token ecosystem by listing its governance token, $HTX, and facilitating the conversion from $HT to $HTX. As a token of appreciation for their support, HTX DAO is offering a specific token allocation to HT holders who opt for the exchange. The conversion service, going live on January 22, 2024, promises more favorable rates for earlier conversions and larger asset exchanges.

Benefits Transition from $HT to $HTX

With the introduction of $HTX, HTX DAO announces the migration of benefits associated with $HT to the new $HTX token. This transition is scheduled for February 2, 2024. Benefits such as trading fee deductions, margin loan interest, and DMBT minting fees, currently enjoyed by $HT holders, will shift to $HTX holders.

Cessation of $HT Spot Trading and Benefit Discontinuation

HTX will cease $HT spot trading on January 22, 2024. Simultaneously, all benefits linked to holding $HT will be discontinued. This strategic move is part of the broader plan to transition fully to the $HTX token, marking a significant shift in HTX DAO’s token strategy.

Formula for Calculating Rockets and Prime Membership Levels

For existing $HT holders, Rockets and Prime membership levels between January 21 and February 1, 2024, will be calculated based on a specific formula. This involves multiplying the USDT value of $HT assets by a factor of 3 for Rockets and 1.5 for Prime membership level-ups. This calculation will cease post-February 2, with the focus shifting entirely to $HTX assets.

The Future Role of $HTX in Rockets and Prime Membership

Beginning February 2, 2024, holding $HTX (HTX DAO) assets will enhance Rockets, with the USDT value of $HTX holdings multiplied by 3. Similarly, for Prime membership calculations, the USDT value of $HTX assets will be considered with a multiplier of 1.5. This shift underscores HTX DAO’s commitment to transitioning its ecosystem to the $HTX token.

Conclusion

In conclusion, HTX DAO’s transition from $HT to $HTX represents a significant shift in its cryptocurrency ecosystem. The conversion process and the migration of benefits are designed to be seamless for the users, with incentives for early conversion. As HTX DAO moves forward with $HTX, it sets a new course for its community and token economy.