HTX

• HTX is the token of the HTX exchange, formerly Huobi, one of the longer-running centralised exchanges.

• It provides trading fee discounts and access to exchange programmes.

• Justin Sun has been publicly associated with the exchange's direction since 2022.

• Supply runs to hundreds of trillions of tokens. HTX is a separate token issued by HTX DAO in 2024 rather than a renaming of the older HT token, whose exchange benefits were moved across to it.

• Used for fee discounts and exchange ecosystem participation.

Pros:

• Long operating history dating to 2013.

• Substantial trading volume and liquidity.

• Exchange tokens have a direct utility in fee reduction.

Cons:

• Exchange tokens carry direct counterparty risk: their value depends entirely on the exchange remaining solvent and operational.

• The exchange has faced regulatory pressure and market exits across multiple jurisdictions.

• Association with Justin Sun links it to his broader regulatory situation, which has included SEC action.

• This is an exchange token, so it is a claim on a private company's continued operation rather than a protocol.

• Fee utility is real for active traders on the platform.

• The counterparty and regulatory risks are the dominant considerations.

• Fee discounts on a high-volume exchange with more than a decade of continuous operation.

• Active traders pay substantial fees, and exchanges compete for their volume.

• A discount token reduces cost while binding the trader to the platform.

• Exchange founded by Leon Li in 2013 as Huobi, rebranded to HTX in 2023.

• Justin Sun has been an adviser and publicly associated with its direction since 2022.

• No public sale. HTX was issued by HTX DAO in 2024 and took over the fee benefits previously attached to HT, which had itself been sold through exchange point cards in 2018.

• Exchange insolvency or failure would render the token largely worthless.

• Regulatory pressure has forced exits from multiple markets.

• Association with a figure subject to SEC action.

• Very large supply and opaque burn mechanics.