HBC Token Model 2.0 has been officially in operation for 12 days. HBTC will conduct a community vote to decide the HBTC Captain’s airdrops obtained from HBC Token Model 1.0.
In HBC Token Model 2.0, Captains can liquidate the HBC reward based on his/her daily performance. The liquidated HBC will be in free circulation in the secondary market. Recent, the price of HBC has risen sharply in the secondary market. HBTC Captains had raised their concern on the HBC airdrops obtained from HBC Token Model 1.0, seeking for a solution to unlock their rewards.
HBTC will launch a community vote to decide whether should there be a buyback for uncirculated HBC Token from HBTC Captains. Users who hold enough HBC tokens will qualify to vote. The extended buyback scheme will be implemented if consensus reaches more than 51% and will take effect within the next 7 days after the community vote ends. On the other hand, if the majority disagree with the extended buyback scheme, the current scheme will remain.
If the vote is passed, HBTC will conduct an extended buyback scheme for all uncirculated HBC airdrops from HBTC Captains. HBTC will credit the USDT to the Captains' account.Meanwhile, the HBC rewards obtained from buyback in Model 2.0 will be airdropped to the HBC Reserve account and Captains may liquidate the reward by trading on HBTC secondary market.
Extended Buyback Scheme:
HBTC will conduct an extended buyback scheme for all uncirculated HBC airdrops from HBTC Captains at the price of 4.021 USDT per token. An estimated cost of 2 million USDT will be spent in this extended buyback scheme.
Source of fund:
HBTC will use the income generated from the trading fee in quarter one 2021. This arrangement will affect the upcoming HBC buyback-to-burn and reward in Token Model 2.0.
All HBC airdrops will no longer be visible on “Balance”. This information will be categorized under “Captain” to avoid any misunderstanding.
HBC buyback-to-burn and reward in Token Model 2.0:
HBTC will use 100% of its quarterly business income from the HBTC Exchange and Bluehelix Technology’s buyback-to-burn mechanism. HBTC will conduct quarterly buyback of HBC in the secondary market on HBTC Exchange. All HBC tokens obtained from buyback will be allocated as follows:
(1.1) Token burn and deflation mechanism: 80% of HBC tokens obtained from buyback will be burnt with the buybacks from the uncirculated HBC airdrops of HBTC Captains;
(1.2) Captain’s reward (lockup): 20% of the HBC will be locked and distributed to the Captain’s reward account. The HBC in the reward account will be unlocked according to Captain’s daily performance. The specific allocation will be 15% and is based on the quarterly performance of the Captain. The other 5% will be shared amongst Captains who qualify by maintaining his/her status with a quarterly performance of no less than 100 USDT;
(1.3) Rules to liquidate HBC reward: Captains can liquidate the HBC reward based on his/her daily performance. If a Captain is able to produce a daily performance of 1 USDT or its equivalent, he/she can liquidate the HBC reward equivalent to 1 USDT at the closing price of the day. The liquidated HBC will be in free circulation in the secondary market.
HBTC reserves the final interpretation and execution right for this token model.
1. Only HBTC Captains are allowed to participate in the voting for an Extended Buyback Scheme. The number of vote count is based on the number of HBC a Captain has in his/her account. 1 HBC = 1 Vote;
2. Each Captain is given a chance to vote;
3. Captains cannot change his/her vote after submitting a ballot;
4. Voting Period: 12:00, 23 February 2021 - 12:00, 01 March 2021 (UTC+8);
5.HBTC reserves the final interpretation of this voting.
Cast Your Vote Now:https://www.hbtc.co/activity/vote2/?id=7
23 February 2021