Cryptocurrency exchange HTX (formerly known as Huobi) announced the launch of a new DAO project promising 30% APY for liquidity providers.
The new project was launched with the support of TRON founder Justin Sun and is called HTX DAO, which, according to the description, will serve as a platform where “pioneering concepts and transformative projects find realization.”
According to the DAO whitepaper, governance will be done using HTX tokens. While the exact purpose of the newly formed DAO remains unclear, its description suggests that participants will be able to submit proposals on the HTX DAO forum. It is also not clear whether these proposals should be associated with the HTX exchange or Huobi ECO Chain (HECO), a decentralized public chain developed by Huobi Group.
The official HTX DAO website provides information about 30% APY for those contributing liquidity to the HTX/TRX pool on Sun.io, a TRON-based platform. The site states that HTX holders can take advantage of both the HTX DAO and various benefits on the HTX exchange, but it does not specify which ones at this time.
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