HBTC AMA Recap
HBTC is a Singapore based FinTech company founded by the ex CTO of Huobi with a team of talents from Google, Alibaba, Tencent, Baidu, Barclays Capital, and Société Générale. The group received investment from Huobi, OKEx, and other major institutions when it was established in April 2018, raising more than 20 million USD and 20,000 in ETH.
Speaking from exchange fundamental, HBTC Exchange has extremely deep liquidity due to liquidity being sharing among our 240 Exchange partners. From the innovative perspective, We are the first exchange to introduce the Filecoin (FIL) Cloud Mining with great success in our recent subscriptions.
This AMA allowed users to connect with HBTC’s Shawn Lau (the Market Expansion at HBTC Exchange), who answered the questions and listened to the feedback.
I came from a physical & derivatives trading background spanning across a wide variety of products such as Crude Oil, Natural Gas, Bonds, Soy Bean, Gold, FX and US Indices. My crypto journey actually started back in January 2018 with Huobi where I was then spearheading the expansion of Huobi OTC in APAC. Subsequently, I continued to another exchange ABCC to lead their global expansion and now landing at HBTC mainly due to their strong technology infrastructure and innovative capabilities.
Questions from the CryptoRank team
#1 For any New Exchanges, Attracting New Traders & Userbase are very Challenging task! So, What’s your plans to Attract new Users & Traders towards HBTC Trading Platform?
Shawn Lau: -For many exchanges, most of the profits earned are usually distributed back to their shareholders. However, on HBTC Exchange, HBC token holders are our major beneficiaries of our success. HBTC Captain serves as a very role for us to move towards global adoption
#2 What difficulties are you facing to bring partnerships or mass adoption, while blockchain seemed as a scam in the common people? How are you going through this?
Shawn Lau: -We are well vested by investors from both blockchain and traditional VCs. Having Huobi and OkEx investing in us. It meant a lot for the exchange. On top of that, we have 3 lines of product. HBTC Chain, a blockchain that facilitates decentralized custody, decentralized OTC, On-chain & off-chain clearing of transactions and supports the building of Blockchain enterprise solutions. e have also received a patent in the US.
Our Saas cloud exchange solution – Bluehelix Cloud has more than 240 exchange operators client bringing more than 12million end users. Hence, we are very strong in terms of liquidity. Finally for our 100% token holder own exchange – HBTC Exchange, we have a very innovative platform ecosystem using HBC token.
Two core features of HBC Token:
- 10x PE repurchase mechanism
HBTC will use 100% of HBTC’s revenue with the price calculated by 10x PE (10x PE = HBC price /annualized revenue per HBC * 10) on the secondary market to repurchase HBC on daily basis.
- HBTC Captain Incentive Program.
The platform will use 50% of the HBC tokens obtained from the daily repurchase to reward the core contributors of the platform. HBTC hopes to create a new way of working and promote value sharing and platform building.
HBC’s repurchase mechanism
HBTC will use 100% of the platform’s revenue and 80% of the profit of Bluehelix Cloud to execute the HBC buyback. On the repurchase price, 80% of the revenue of the previous day is used for the 10 times PE pricing the current day, and 20% of the revenue is used for the 5 times PE pricing repurchase for price support, and any unexecuted orders will remain on the order book.
The repurchased tokens will be allocated such that 50% airdropped to all HBTC Captain, 40% is used for platform operational costs, and 10% are destroyed quarterly after being locked.
#3 What is the basic structure of the HBTC Exchange? Are there unique technologies and features built About HBTC exchange?
Shawn Lau: -Yes, we are considered as one of the largest SaaS cloud exchange provider in the industry
#4 How do you Evaluate Community Support? What are your plans to achieve more Adoption & awareness of HBTC Exchange Platform?
Shawn Lau: -We have been actively localizing efforts in various geographic regions such as Russian market, Japan Market, South East Asia and Chinese market.
#5 Could you tell us about Fees Structure of HBTC Exchange? What Trading Fees is Charged by HBTC Exchange from Traders on their Trades?
Shawn Lau: -At HBTC, we have reasonable at affording trading fees and focus on trading experiences and liquidity.
- Exchange Trading Fees
Maker fee 0.1%, taker fee 0.1%
- Option Trading Fees
Maker fee 0.5%, taker fee 0.5%
- Contract Trading Fees
Maker fee 0.02%, taker fee 0.05%
#6 Is there any Referral system or any similar program run By HBTC Exchange where users can promote your Exchange by inviting their friends on HBTC Exchange for some Referral Rewards?
Shawn Lau: -Yes. you may invite and commission rebates on trading fees. If you are a very active affiliate or KOL with good followers size, it will be recommended to join our HBTC Captain as you will be able to enjoy more benefits
#7 Can we Expect sufficient Liquidity in HBTC Exchange for Trading? How HBTC Exchange Generates Liquidity in its platform for Trading & Attracting Traders?
Shawn Lau: -We have very deep liquidity. During the last 2 years, HBTC has achieved extraordinary business results through Bluehelix Cloud, which has served more than 240 exchanges across 12 countries and with more than 12 million end-users. There were more than ten thousand crypto assets circulating on Bluehelix Cloud with a total market value exceeding 6 billion USDT.