What is HTX DAO? A new decentralized governance paradigm

Abstract

php editor Xiaoxin will introduce to you a new decentralized governance paradigm today, which is HTX DAO. DAO, the decentralized autonomous organization, is an autonomous governance mechanism realized through smart contracts and blockchain technology. HTX DAO has attracted widespread attention in the cryptocurrency field with its unique governance model and innovative economic model. It achieves participant autonomy and distribution of decision-making rights by decentralizing power to community members who hold tokens. This new governance method provides participants with greater voice and decision-making capabilities, and also provides better guarantee for the sustainable development of the project. In HTX DAO, each participant can participate in project decision-making through voting, proposals, etc., achieving decentralization of power and improvement of fairness.

HTX DAO encourages users to use HTX tokens to settle transactions and pay handling fees, and provides transaction fee discounts.

HTX is the governance token of HTX DAO, with a total initial supply of 999,990,000,000,000.

What is HTX DAO?

HTX DAO is one of the pioneers in the blockchain ecosystem and is committed to developing open finance and decentralized token economy. Its vision is to hand over governance rights to HTX token holders and adopt a decentralized governance model, which is different from the governance of traditional companies. By attracting diverse participants to hold HTX tokens, HTX DAO achieves the goal of jointly participating in governance.

HTX token embodies the concept of HTX DAO, where "H" represents the HTX exchange, emphasizing the importance and liquidity contribution of the exchange to the HTX DAO ecology; "T" represents the TRON public chain (TRON), as the technical foundation of HTX tokens; while "X" symbolizes change and potential, and contains the core concept of the platform vision. This naming method aims to highlight the key elements and development direction of the HTX DAO ecosystem.

How HTX DAO works

HTX DAO encourages users to use HTX tokens for transactions and payment fees, and provides discounts on transaction fees. According to the HTX DAO white paper, the platform will allocate part of the revenue for ecological development. Different from the traditional repurchase and destruction mechanism, HTX DAO adopts a dynamic mechanism. It encourages ecological participants to provide liquidity for DAO through the decentralized ecological liquidity pool of https://sun.io, promoting the development of DeFi applications, developer activities and ecological development.

In HTX DAO, participants are called donors, and they have the opportunity to voluntarily provide liquidity to the ecosystem. The platform will list the first list of donors, including those entities and organizations that have made active contributions to the development of the platform's ecosystem, covering multiple areas of the blockchain industry. HTX and TRX funds pledged by donors will be carefully allocated to ecological liquidity addresses similar to zero addresses. These tokens are not burned but are used for fund management to enhance utility and decentralization. This measure ensures that HTX DAO will not have a donor exclusively controlling the entire fund pool, thereby achieving a decentralized management of liquidity, solving the centralization problem of fund custody, and enhancing the liquidity pool. safety.

HTX DAO ecological liquidity donation mechanism aims to enhance decentralization features, solve security issues and avoid centralization accusations. This mechanism is well-structured, which can not only enhance the resilience of the HTX DAO ecosystem and achieve self-sufficiency, but also ensure the transparency and responsibility of ecological operations. This innovative mechanism not only ensures the stable development of the ecosystem, but also adapts to the evolving regulatory framework.

Token Allocation of HTX DAO

HTX ($HTX) is the governance token of HTX DAO. Although the HTX token has a similar name to the HTX exchange, HTX is not the platform currency of the trading platform, nor is it an upgraded version of the HT token. The letter "H" in the HTX token represents HTX Exchange, which is to reflect the exchange's outstanding contribution to the HTX DAO ecology; for this reason, HTX DAO has reserved some HTX tokens for HT token holders to voluntarily Exchange for HTX tokens.

The total initial supply of HTX is 999,990,000,000,000 pieces, adopting a strategic HTX token distribution plan. Among them, HTX DAO early contributors and public allocation accounted for 19%, community direct plan accounted for 19%, developer funding accounted for 10%, R&D accounted for 10%, ecological support accounted for 10%, partners accounted for 15%, and platform development accounted for 17% . This solution not only serves token distribution, but is also committed to promoting the construction of a vibrant ecosystem. In this ecosystem, every player plays a key role in shaping decentralized governance and blockchain innovation.

In-depth interpretation of HTX DAO

The decentralized autonomous organization (DAO) has developed to this day and provides a transparent and decentralized governance model for collective community decision-making. With the iteration of blockchain industry technology, various projects and platforms have never stopped exploring the DAO governance model. On January 18, 2024, HTX DAO was officially announced to be established, aiming to build a more transparent, efficient and participatory digital economic ecosystem. As a visionary and inclusive platform, the ecosystem envisioned by HTX DAO is based on inclusivity and cutting-edge innovation, cultivating a democratized and efficient governance model through decentralization, while also integrating the benefits of blockchain and decentralization. An important step forward in governance.

At the same time, HTX DAO also announced that Huobi HTX has become its ecological builder. Huobi HTX will donate 50% of platform revenue to HTX DAO ecological liquidity. This collaboration aims to cultivate a strong and active blockchain ecosystem that will benefit both parties and provide new opportunities for their growth within the blockchain industry.

HTX DAO breeds more possibilities and helps Web3 ecological prosperity

HTX DAO is a pioneering, open and transparent decentralized autonomous organization in the blockchain ecosystem. The name of HTX DAO condenses its characteristics and strategic direction as a decentralized autonomous organization:

●The "H" symbolizes the Huobi HTX exchange, emphasizing that it serves as the largest liquidity in the HTX DAO ecosystem The important role of contributors;

●"T" stands for TRON, symbolizing the technological innovation that drives the HTX DAO ecosystem forward;

●"X" stands for change and potential, bringing together Core beliefs of HTX DAO vision. "X" also represents the many well-known entities that form the cornerstone of the DAO ecosystem and will eventually become an integral part of the HTX DAO ecosystem.

As a decentralized autonomous organization (DAO), the establishment of HTX DAO marks a new stage of blockchain governance. Different from the traditional corporate structure, the governance structure of HTX DAO is composed of diversified groups to promote the prosperity of the HTX DAO ecosystem through decentralized joint governance.

According to the HTX DAO official website, HTX DAO has the following salient features:

1. Decentralization, open governance

As we all know, governance tokens, on-chain voting and no need to Permissioned permission to propose is the cornerstone of decentralized governance. Any HTX DAO developer and partner can put forward ideas for community governance and determine the direction and allocation of resources within HTX DAO. The process is open and accessible, with both initial proposals freely being made on the HTX DAO Forum and formal proposals being made through the HTX DAO Governance Module.

2. DeFi&CeFi, equity sharing

With the rapid development of the digital currency market, DeFi (decentralized finance) and CeFi (centralized finance) are no longer competitors, but They have become two major forces that complement each other and develop collaboratively. In this context, Huobi HTX has become an ecological participant of HTX DAO and has become a model, showing how to innovatively combine the advantages of the two.

HTX DAO also opens the door to community participation and encourages various forms of active cooperation:

● Community members: can actively participate and share innovative ideas on the HTX DAO forum and social media . These ideas may be accepted by HTX DAO. At the same time, community leaders may obtain voting rights to influence the development direction of HTX DAO.

●Independent contributors: Those individuals or teams who can promote the HTX DAO protocol, promote development and cooperate with other projects are its indispensable contributors.

● Ecosystem liquidity committers: DAO participants in the ecosystem such as Tron and HTX who voluntarily provide liquidity. They are crucial to HTX DAO. Together, they promote the construction of a more robust ecosystem by expanding DeFi use cases, motivating a wide range of developer participation, enhancing smart contract interactions, and supporting various dApp scenarios.

●DAO Partners: Projects willing to contribute to the HTX DAO ecosystem and explore cooperation opportunities with the HTX DAO protocol are warmly welcomed.

In the future, HTX DAO will continue to deepen cooperation with industry partners and jointly explore new paths for the development of the entire blockchain industry, providing new growth momentum and a broader development vision for the entire market.

3. Liquidity donation mechanism to jointly build the HTX DAO ecosystem

Currently, DAO is still in the early stages of development. The functions of DAO in different modes are becoming more and more abundant. In HTX DAO, each participant has the opportunity to voluntarily make liquidity commitments and is called a "commender". HTX DAO plans to establish a list of first pledgers including entities from various areas of the blockchain industry to jointly promote and strengthen the ecosystem.

HTX DAO’s ecosystem liquidity donation mechanism is carefully designed to empower the HTX DAO ecosystem and promote decentralization while resolving security-related concerns and centralization issues. This mechanism not only strengthens the resilience and self-sufficiency of the ecosystem, but also ensures transparency and accountability in all operations. It introduces an innovative approach to support the growth of the HTX DAO ecosystem, while attracting a variety of contributors from a wide range of communities, adopting a collaborative and inclusive approach to jointly strengthen the entire DeFi ecosystem.

4. Transparency on the chain, security and efficiency According to the official website of

HTX DAO, all votes in HTX DAO are generated on the chain and cannot be tampered with by anyone, thus ensuring the fairness and efficiency of governance. and transparency.

HTX DAO has passed the ChainSecurity security audit, making it more open, transparent, safe and trustworthy. ChainSecurity is a top security audit company in Europe and the United States, and has provided security audit services for well-known projects such as Polygon, Uniswap, MakerDAO, and Yearn. Such a safer, more transparent, and more independent HTX DAO ecosystem can openly accommodate multiple roles such as community members, independent contributors, ecosystem liquidity committers, DAO partners, etc., allowing all roles to actively participate in HTX The discussion and construction of DAO is coming.

HTX DAO’s fairer and more transparent governance concept empowers Huobi HTX

HTX DAO believes that true innovation comes from the integration and collaboration of different perspectives within the blockchain community. Empowered by the decentralized governance of HTX DAO, Huobi HTX Exchange has been reborn, breaking the barriers of centralized governance and becoming an exchange for the people.

The so-called people’s exchange is to return the power of the exchange to each user, allowing users to become the masters of Huobi HTX.

Just as HTX DAO was officially established on January 18, Sun Yuchen, a member of the Huobi HTX Global Advisory Committee, said: "HTX DAO should have community decision-making capabilities in the future. The DAO community can generate real support for Huobi and for Huobi. Community representatives with faith in the blockchain industry make active decisions and truly respond to the challenges of the future.” Sun Yuchen believes that centralized exchanges have become the core component of the blockchain industry, but ironically, the blockchain industry As an industry that most advocates decentralized values, its core component, the exchange, is actually completely centralized. The injustice caused by the control of centralized exchanges has become a tragedy for the industry.

The launch of HTX DAO will empower more ecological roles, including Huobi HTX. In the future, the listing rights, management rights, and decision-making rights of Huobi HTX will be handed over to HTX DAO, to the people, and to the community. The complete empowerment of HTX DAO will truly democratize the Huobi HTX exchange.

From CeFi to DeFi, shaping the decentralized governance ecological paradigm

As a commonly adopted governance model in DeFi and crypto projects, DAO represents a new power structure. Within this framework, collective decision-making becomes possible, abandoning the control of a single aspect. As technology and concepts continue to advance, decentralization and community autonomy will continue to deepen, including the effectiveness of decision-making, coordination of development teams and administrators in the early stages of projects, and striking a balance between decentralization and fairly rewarding contributors.

The emergence of HTX DAO has special significance in the crypto world. It not only breaks the limitations of centralized governance and brings together wisdom and influence in the blockchain field, but also provides a platform for integration and collision of diverse views from the community. This diverse exchange and collaboration has the potential to generate real innovations that impact the development of the entire industry.

To this day, the encryption industry has developed, and continuous iterations of technology are still happening. Under the water, those innovative ideas, valuable concepts, and potential narrative directions need a multi-dimensional and open enough platform to discuss and incubate. HTX DAO is such an ecosystem to support all possibilities.

Summary

HTX token embodies the concept of HTX DAO, where "H" represents the HTX exchange, "T" represents the TRON public chain, and "X" Represents change and potential. In the development process of HTX DAO, HTX DAO encourages users to use HTX tokens to settle transactions and pay handling fees; at the same time, HTX DAO empowers the ecosystem, enhances decentralization features, and solves security-related issues through the ecological liquidity donation mechanism. .

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