HTX launches a DAO for exchange-traded token holders

What’s new? Crypto exchange HTX (formerly Huobi) has announced the launch of a decentralized autonomous organization (DAO). All holders of HTX exchange tokens will be able to participate in the governance of the project. As HTX DAO representatives write, its establishment, aimed at exploring the prospects of the blockchain ecosystem, “will open a new chapter in decentralized governance.”

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What else is known? According to the official website, HTX DAO invites all HTX token holders, including ecosystem developers and partners, to participate. Voting on participants’ proposals will be done internally with protection from unauthorized access and tampering, ensuring a transparent, efficient, and fair governance mechanism.

In the future, HTX DAO will also act as a liquidity provider for HTX and Poloniex exchanges. The organization offers returns of up to 30% per annum for supplying liquidity to the HTX/TRX pool on the Sun io platform on the TRON network, and the funds will be used to develop the ecosystem.

The CEO of HTX and Poloniex crypto exchanges, as well as the creator of the TRON blockchain, is Justin Sun. In November last year, both trading platforms were hacked in turn for a total amount of over $210 million. The businessman pledged to cover the losses and airdrop for users once the exchanges are fully restored.

Circle denies allegations of terrorist financing and ties to Justin Sun

Earlier, the non-profit organization Campaign for Accountability said that Palestinian groups are actively using USDC on the TRON blockchain

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In turn, TRON attracted the attention of analysts as the most popular blockchain among terrorists. In response, Sun stated that the project’s team is committed to combating terrorist financing, but its top priority remains maintaining decentralization, securing assets, and ensuring instant, accessible, and secure transactions.

In early December, the number of TRON users crossed the 200 million mark. By the end of December, TRON ranked first by a wide margin (43 million) in the number of active users in 30 days.

In December, India’s financial intelligence agency called for the HTX website to be blocked for violating AML laws, and Apple removed the exchange’s application from the local App Store.