HTC ANCHOR CASH DEFI ECOSYSTEM

January 21, 2021

General

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain

Huobi is a cryptocurrency exchange that is headquartered in Seychelles.

Huobi has been a global crypto exchange leader for years. With exceptional security, customer support, asset listings, and trading fees, Huobi is a great option for any serious crypto trader.

What is HTC.Cash ?

Huobi Token (HT) is the basic asset on the Huobi Ecological Chain (HECO), and with the continuous development of the HECO ecosystem, a digital asset that pegged to HT will inevitably be needed to meet the growing demand for transactions. On the one hand, the transaction is completed on HECO. Compared with the high GAS fee on the ETH chain, the transaction fee on HECO is lower and speed is faster. On the other hand, digital assets pegged to the US dollar and gold will depreciate with the inflation of anchors, and the total amount of HT is constant, so there is no devaluation problem.

Huobi Propose

we propose an experimental innovative stablecoin project: HT ANCHOR CASH, which pegged to HT and is an improved version of Basis Protocol. The main improvements are as follows:

The price feeding mechanism is based on the 12-hour weighted average price of the HT-HTC trading pair on the decentralized exchange to reduce the risk of price manipulation;
The time of Rebase is adjusted to once every 12 hours, at 8:00 and 20:00 SGT respectively;
The additional issuance number of tokens for each rebase period is adjusted to: 95% of the total distribution of each rebase, and the other 5% goes to the treasury instead of the original 100% on Basis Protocol. The adjustment here can make the treasury more profitable and compulsorily redeem HTB Bonds, when the price of HTC is lower than 1 HT, it will better encourage users to exchange bonds and maintain balance.
The transaction price of stablecoins within a certain minting time reaches 1.1 HT (not the original 1.05), and additional issuance will be carried out to strengthen the stability of the additional issuance rate;
Extend stablecoin mining time, support more HRC20 currency mining, and strengthen consensus.

Tokenomics

There are three kinds of tokens in the HT ANCHOR CASH protocol, namely HTC (HT ANCHOR CASH), HTS (HT ANCHOR CASH Share) and HTB (HT ANCHOR CASH Bond). HTC and HTS can be obtained by providing liquidity, among which HTC is pegged to HT value to 1 HT (HTC:HT=1:1).

HTS holders can participate in board staking to obtain the premium income generated by HTC after inflation. The board of directors will be opened 4 days after the project is opened. HTB is a bond issued when the price of HTC is less than 1 HT and can be used to repurchase HTC. When price of HTC exceeds 1.1 HT, HTB holders can exchange HTC back at ratio of 1:1.

Token Distribution

HTC has no pre-mining, it is fair distribution

HT ANCHOR CASH launches 11 initial mining pools, users can stake HT, HUSD, HBTC, HETH, HLTC, HBCH, HDOT, HBSV, HFIL, (assets on Heco)DEX token RAB and algorithmic stable token BAG, a total of 11 HRC-20 assets to participate in HTC mining.

The total supply of HTC is 11,000. As a reward, it is fairly distributed to each mining pool. Each mining pool can mine 1,000 HTC for 10 days, and each mining pool produces 100 HTC per day.

HTS distribution will begin immediately after HTC starts to distribute, totaling 2,100,001, of which 5% will be allocated to DAO and early investors, also this part will be used for marketing and centralized exchange listing, this part will be unlocked in proportion to the mining output, no pre-mining. 1 HTS as the initial liquidity will be added to the liquidity pool on DEX, 2 million HTS are mined and distributed to 4 mining pools:

HTC-HT-LP mining pool: 750,000 HTS
HTS-HT-LP mining pool: 250,000 HTS
HTC-HUSD-LP mining pool: 750,000 HTS
HTS-HUSD-LP mining pool: 250,000 HTS