August 12, 2020

Opinion: Huobi Global VP in Dialogue with TRON Founder about What Projects Looks for When Choosing an Exchange for Token Listing

LONDON, Aug. 12, 2020 /PRNewswire/ — On August 12, Vice President of Huobi Global Markets Ciara Sun joined Justin Sun,…

LONDON, Aug. 12, 2020 /PRNewswire/ — On August 12, Vice President of Huobi Global Markets Ciara Sun joined Justin Sun, founder of TRON at an AMA session to discuss key points in a token listing process and what to look for when JST choosing an exchange for token listing.

Summary

  • Honest Trading Volume, user centred, honesty and security driven are the most important aspect and the key strength of Huobi vis-à-vis other exchanges.
  • Over 908 million in average daily trading on our spot exchange, 26.54% increase compared to the same time last year. Coinmarketcap’s liquidity ranking index shows that Huobi Global’s average liquidity index score is 536 points, ranking first among the average liquidity index of global exchanges.
  • In the 7 years Huobi has been around, the exchange hasn’t been affected by a major security breach. It has launched an on-chain analysis tool to monitor for illicit transactions. With over 500 Huobi in-house developers, the technical team can collaborate globally to support the technical development and guarantee the platform safety
  • TRON-based protocol JustSwap collected handling fees collected will go directly to liquidity providers of the protocol, which ensures full decentralization and security.

Ciara Sun, head of global markets at Huobi Group, took part in a late AMA session on August 12th with TRON founder Justin Sun. She answered questions from the community – What makes Huobi different from other exchanges when projects like JST seek for token listing?

Sun stressed that honesty, user centered and security are the driving force for Huobi’s fast growth in trading volume and user base and the most important aspect of Huobi vis-à-vis other exchanges.

“We have many of the protocols and procedures in place that you’d expect from a multinational organization. This is the very essence of Huobi, and we place a high value on compliance, security, and user safety. The honest trading Volume, user centered, honesty and security driven are the most important aspect and the key strength of Huobi vis-à-vis other exchanges,” said Ciara Sun

She further added that: “This year, we have seen over $908 million in average daily trading on our spot exchange, 26.54% increase compared to the same time last year. We also try to create the best preeminent pricing strategy for regional markets. For example, just recently, Huobi Global has announced exclusive and lowest fee rate bands for Indian crypto spot trading market. The standard fee band is 0.099% and users can apply the HT offset to the 0.07% trading fee. Users with more than 2 Bitcoin idle funds can enjoy the lowest trading fee rate of 0.055%.”

Huobi and JST

After a brief introduction on JustSwap project, a TRON based exchange protocol for exchanges between TRC20 tokens Justin Sun continued to stress that “All handling fees of JustSwap will be collected and directly go to liquidity providers of the protocol as a protocol incentive.

To answer Why TRON choose to work with Huobi, Justin Sun went straight forward that

“We have known Huobi well and respect Huobi as a trustworthy and leading cryptocurrency exchange. And besides its trading volume, Huobi’s prime liquidity and market depth are what the trading communities look for.”

According to popular data provider CoinMarketCap, Huobi Global’s average liquidity index score is 536 points, ranking first among the average liquidity index of global exchanges.

Ciara Sun further explained why liquidity should be the core metrics to evaluate an exchange:

“Investors deposits and liquidity reflects can reflect truly on users trading. Investors deposit assets to an exchange in order to trade. These are the data that exchange cannot fake. ”

Security Determines Success

The biggest risk in the digital asset space, according to Ciara Sun, is hacking. She explained that while hacking doesn’t typically lead to massive losses in traditional financial markets, the decentralized nature of digital currencies means there is almost no way to recover lost assets once they are stolen. She added that:

“In the 7 years we’ve been around, our exchange hasn’t been affected by a major security breach and we plan to keep it that way. We continue to prioritize our users’ safety. We’re also proud that our exchange hasn’t experienced any major outages during extremely volatile moments when there are a large number of concurrent users. We’ve been able to maintain the uptime unlike some of the other major exchanges because we’ve invested heavily into our backend infrastructure. Huobi has over 500 in-house developers globally to support the technical development of the platform. “

 

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SOURCE Huobi Global