What is Huobi BTC (HBTC)?
Huobi BTC is a token built on the Ethereum blockchain that is pegged to Bitcoin on a 1:1 ratio. This means that every HBTC coin is backed by a genuine Bitcoin asset and the HBTC price will always be almost similar to the Bitcoin price at any time.
The HBTC crypto token has not only served as a bridge between the centralized and decentralized finance markets, but it also has connected users to the DeFi world. It allows users to conveniently use decentralized protocols like Uniswap, Curve, Balancer, Nest, and ForTube. It is expected that as the project grows, more use cases will be added. If you would like to participate in this ecosystem, a good place to start your research would be the HBTC price chart above, where you will get information about the current and the previous Huobi BTC price, as well as its recent movements.
Who Founded HBTC?
This token was created by Huobi Global Exchange in 2020 as part of its H-Tokens project. H-Tokens were established to tackle the lack of quality and mainstream crypto assets in the DeFi industry. By issuing H-Tokens in accordance with ERC-20 and TRC-20 standards, high-quality mainstream resources can be sent over to Ethereum and Tron networks, thereby providing liquidity and stability for both ecosystems.
Each H-Token is fully collateralized at a 1:1 ratio, meaning that its value will remain consistent with the asset it is pegged to, which helps avoid some common problems associated with synthetic assets. Serving as a bridge between centralized markets and DeFi markets, H- Tokens make it straightforward for quality assets to interact with ERC-20 or TRC-20 tokens within the DeFi sector. Don’t forget that you can check the live HBTC price on the price chart above.
HBTC Tokenomics
The maximum supply of HBTC stands at 6,910 tokens. However, the token has a burn mechanism attached to it, so it means the number of HBTC in circulation will reduce over time to maintain the HBTC price stability.
