Successful Launch Ceremony of HTX DAO and People’s Exchange: Sun Yuchen’s Mission to Establish Huobi HTX as People’s Exchange
On February 2nd, the HTX DAO 2024 and the People’s Exchange Launch Ceremony were held in Singapore. This press conference marks the beginning of the decentralization of Huobi HTX and also signifies that the People’s Exchange will become its core spiritual connotation.
At the event, Sun Yuchen, a core supporter of HTX DAO and a member of the 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 held with the HTX DAO Governance Committee, ecosystem participants, and industry media.
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HTX DAO: Empowering the Community
HTX DAO Empowers Huobi HTX with a Second Life
HTX DAO: Empowering the Community
Sun Yuchen pointed out that in order to avoid tragedies like FTX and Mt. Gox from happening again, only a decentralized governance model can open up the ceiling of asset scale and ensure the long-term security of exchange users’ assets in the continuous growth of the industry. And only through decentralization can the blockchain and exchange industry 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.
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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 important role as the largest liquidity contributor in the HTX DAO ecosystem; ‘T’ represents TRON, symbolizing the technological innovation that drives the HTX DAO ecosystem forward; ‘X’ represents transformation and potential, bringing together the core beliefs of the HTX DAO vision. ‘X’ also represents many well-known entities that constitute the cornerstone of the DAO ecosystem, which will eventually become an indispensable part of the HTX DAO ecosystem.”
Sun Yuchen stated that what Huobi HTX wants to do is 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, questioning, and decision-making governance, assisting Huobi HTX in achieving the path of decentralization and ultimately 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 empower Huobi HTX with a second life, leading the development of Huobi HTX for the next decade through decentralized governance, ensuring its permanent and healthy operation, just like the inheritance of civilization.
According to his introduction, relying on HTX DAO and $HTX, Huobi HTX will retain its centralized operational structure while giving birth to decentralized governance, brand, 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 generate a Huobi HTX Senate, actively debate and make decisions on the development of Huobi HTX. It will come from the community and return to the community, making Huobi HTX a truly 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, they will donate part of the funds to HTX DAO’s ecosystem liquidity, jointly supporting the development of HTX DAO.
In conclusion, Sun Yuchen stated that Huobi HTX has gone through a centralized decade and hopes to complete the decentralization transformation in the next decade. They aim for a mechanism that is fully democratic, transparent to all, and 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.
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