HitBTC is announcing the launch of its native utility token, the HIT token, which will become the foundation of the HitBTC ecosystem. HIT will be used to provide incentives and rewards to the exchange traders and ecosystem contributors. Geared towards growing our community and enhancing the overall trading experience for our existing HitBTC users, the HIT Token gives the holders exclusive trading benefits including: - Trading fees discount up to 45% - Low commissions for HIT trading pairs With the growth of the platform, HIT will extend the utility within the HitBTC ecosystem, offering: - Lower margin interest and higher leverage limits on margin trading - HIT as collateral for margin and futures trading - Decreased fees for the upcoming futures contracts - Higher Affiliation program rebates - Higher Staking rewards - Governance right on future token listings Token Supply: HIT is an ERC20 token with a maximum supply of 2,000,000,000 tokens. Token Allocation: 30% (600M) of the total HIT tokens is sold publicly. There is no pre-sale of HIT to private investors. All 600M tokens is sold in open markets. 20% (400M) of the total HIT tokens is allocated for the founding team. 50% (1Bn) of the total HIT tokens is allocated for the development of the HitBTC ecosystem. Token Burn Mechanism: HitBTC will spend from 20% and up of our monthly trading commission revenue (not more than 50% of the total emission) to buy back HIT and burn them on a monthly basis. The token burn will reduce the circulating supply of HIT until there are only 1Bn HIT tokens left. We are eternally grateful for your trust in us over the last eight years. Our dedication, as in the past, is to continue to provide reliable and secure services that go above and beyond our clients’ expectations. It is our pleasure to invite everyone to join us in creating an ever better exchange with the HIT token. Read the full information about HIT in the Whitepaper.