Crypto exchange HitBTC introduces its native utility token: HIT

HIT is the new utility token of the HitBTC spot trading exchange; which has over 800 trading pairs and 400+ spot instruments...

Crypto exchange HitBTC introduces its native utility token: HIT

HitBTC, a long-standing cryptocurrency exchange company, has officially announced the launch of HIT, its native utility token. HitBTC plans for the HIT token to become the foundation of its exchange ecosystem.

Firstly, HIT will be used for incentives and rewards to exchange traders and ecosystem contributors.

The HIT token gives holders exclusive trading benefits including:

Moreover, HIT will extend the utility within the HitBTC ecosystem, offering:

Token Supply

HIT is an ERC20 token; with a maximum supply of 2,000,000,000 tokens.

Token Allocation:

Token Burn Mechanism

HitBTC will spend from 20% and up of its monthly trading commission revenue (not more than 50% of the total emission) to buy back HIT; then burn them on a monthly basis. The token burn will reduce the circulating supply of HIT until there are only 1B HIT tokens left.

“We are eternally grateful for your trust in us over the last eight years. Our dedication as in the past is to continue to provide reliable and secure services that go above and beyond our client’s expectations. It is our pleasure to invite everyone to join us in creating an ever better exchange with the HIT token.”
– The HitBTC Team

Those interested can read the full details about HIT in this HitBTC whitepaper.