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Vitalik Buterin

80% Huobi Token Holders Voted For Token Burn

Huobi cryptocurrency exchange has announced the result of the voting regarding the future of Huobi tokens.
80 percent of the token holders supported the token burn.
Huobi used 20 percent of its profit for buying back HT every quarter and then distributed them among token holders (airdrop). According to the exchange blog, the company has made a decision to change this business model due to a high amount of complains. Thus, the exchange let its users decide on the future of HT.
The voting was conducted from 15:00 December 3 to 15:00 December 6, 2018 (GMT+8), during which a total of 72079205 votes were received from 5010 users (1 vote was equal to 1HT). The airdrop received 19.01% support and the burning received 80.99% support.
The company will announce the HT repurchase plan for the fourth quarter within five working days after the close of the voting.
It is noteworthy that back in October, Tether Limited destroyed 500M USDt from the Tether treasury wallet and left the remaining USDT (approx 466m) in the wallet as a preparatory measures for future USDT issuances.