Cointime

Cointime

Download App
iOS & Android

The HTX DAO 2024 The People's Exchange Launch Ceremony successfully

On February 2nd, the HTX DAO 2024 and the People's Exchange Launch Ceremony took place in Singapore, unveiling the decentralization journey of HTX and designating the People's Exchange as its core essence. At the event, core supporter of HTX DAO and member of the Global Advisory Council for HTX, Justin Sun, made a significant speech, elucidating the concept behind the first People's Exchange. Moreover, there was a collaborative dialogue on the governance of HTX DAO and the People's Exchange with the HTX DAO Governance Committee, ecosystem participants, and industry media.

HTX DAO: Empowering the Community

Justin Sun highlighted that to prevent tragedies like FTX and Mt. Gox from recurring, only a decentralized governance model can break through the ceiling of asset size in the context of the industry's continuous growth and ensure the long-term safety of exchange users' assets. Furthermore, decentralization alone can elevate the blockchain and exchange industry to a trillion-dollar asset scale. HTX DAO aims to lead industry evolution, creating a new paradigm for safeguarding users' assets within the exchange industry.

HTX DAO was officially established on January 18th as a leading decentralized autonomous organization within the blockchain ecosystem, focusing on open finance and a decentralized tokenized economy. Its name encapsulates its characteristics and strategic direction as a DAO:

"H" symbolizes the HTX exchange, emphasizing its crucial role as the largest liquidity contributor within the HTX DAO ecosystem.
"T" stands for TRON, representing the technological innovation driving the HTX DAO ecosystem forward.
"X" signifies change and potential, encapsulating the core beliefs of the HTX DAO vision. "X" also represents the multitude of renowned entities that form the foundation of the DAO ecosystem, which will ultimately become indispensable parts of the HTX DAO ecosystem.

Justin Sun stated that HTX aims to be a decentralized, democratically governed exchange, a goal to be achieved through HTX DAO. Holders of the $HTX token will have rights to vote on listings, question, and decide on governance issues, aiding HTX in its path to decentralization and eventually becoming the true owners of the platform.

HTX DAO Gives the HTX Exchange a Second Life

At the ceremony, Justin Sun directly stated that HTX DAO would gives the HTX a second life, leading its development into the next decade through decentralized governance, ensuring HTX can operate continuously and healthily like a civilization. With HTX DAO and $HTX, HTX will maintain a centralized operational structure while birthing a decentralized governance, brand, and decision-making framework, showcasing the vitality and competitiveness of a democratic community.

In Sun's view, HTX DAO will possess community decision-making, governance, and operational capabilities, capable of forming the HTX Senate to actively debate and decide on the development of HTX, coming from and serving the community, making HTX a true People's Exchange.

Notably, besides HTX, Ankr, Spark Digital Capital, Double Peak Capital, Zebec, Merkle 3s Capital, TRON, BitTorrent, JustLend DAO, Poloniex, Sun.io, Spark, Stratified Capital, stUSDT, APENFT, and other projects/institutions have joined as builders in the HTX DAO ecosystem. Concurrently, as ecosystem builders, entities including HTX, TRON, BitTorrent, APENFT, etc., will allocate funds to donate to the HTX DAO ecosystem liquidity, jointly supporting the development of HTX DAO.

Justin Sun concluded that HTX has traversed a decade of centralization and hopes in the next decade to achieve a transformation into decentralization, ensuring long-term stability—a fully democratized mechanism, transparency visible to all, a true People's Exchange.

The conference has garnered widespread attention from the HTX community and the crypto market. Representatives from leading Web3 institutions such as Fireblocks, HashKey, Bithumb, Paradigm, and industry media including The Wall Street Journal, The Korea Times, FT Chinese, The Straits Times, Jinse Finance, PANews attended the ceremony.

HTX DAO
Comments

All Comments

Recommended for you

  • A Total of 37,212.18 DMD Permanently Burned Over the Past 7 Days

    July 9, 2026 — According to the latest on-chain data released by DMDAO, a total of 37,212.18 DMD has been permanently burned over the past seven calendar days through the protocol's predefined trading and wealth management burn mechanisms.

  • Whale Transfers 1,133 BTC to Coinbase Prime, Valued at $71.48 Million

    According to Onchain Lens monitoring, a whale transferred 1,133 BTC from Coinbase to Coinbase Prime through an intermediary wallet, valued at $71.48 million.

  • U.S. AI Chip Stocks Decline Before Market Open, Intel Falls Over 3%

    On July 7, U.S. AI chip stocks experienced widespread declines before the market opened. Intel dropped over 3%, while AMD, Qualcomm, and NXP fell more than 2%. TSMC, Broadcom, and Tesla decreased by over 1%, and NVIDIA declined by 0.7%.

  • China's Central Bank Increases Gold Reserves for the 20th Consecutive Month

    As of the end of June, China's gold reserves stood at 75.44 million ounces (approximately 2,346.446 tons), an increase of 480,000 ounces (about 14.93 tons) from the end of May, which reported 74.96 million ounces (approximately 2,331.52 tons). This marks the 20th consecutive month of gold accumulation.

  • China's Foreign Exchange Reserves in June at $341.6262 Billion

    On July 7, China's foreign exchange reserves for June stood at $341.6262 billion, a decrease of $26 billion from the end of May, representing a decline of 0.75%, with expectations set at $343.2 billion.

  • U.S. Storage Stocks Drop Pre-Market, SanDisk and Micron Down Over 4%

    On July 7, U.S. storage concept stocks collectively fell in pre-market trading. Western Digital dropped over 5%, SanDisk and Micron Technology fell over 4%, Seagate Technology declined over 3%, Rambus fell over 2%, and SMI fell over 1%.

  • U.S. Stocks in Optical Communication Sector Drop Pre-Market

    On July 7, stocks in the optical communication sector of the U.S. market collectively fell pre-market. Astera Labs dropped over 4%, while Marvell Technology, Credo Technology, and AXT Inc. fell more than 3%. Tower Semiconductor, MaxLinear, Corning, Applied Optoelectronics, GlobalFoundries, Lumentum, and Qorvo all declined by more than 2%. Coherent, Nokia, Amphenol, and Broadcom dropped over 1%.

  • Pre-market Decline in U.S. Storage Stocks

    In pre-market trading, U.S. storage concept stocks experienced a widespread decline, with Micron Technology falling by 4.8%, SanDisk dropping over 4%, Corning down more than 2%, and Intel decreasing by over 3%.

  • Two Departments: Support for Reinsurance Institutions to Increase Capital and Issue Supplementary Capital Tools

    On July 7, the National Financial Supervision and Administration Bureau and the Shanghai Municipal Government released several measures to accelerate the construction of the Shanghai International Reinsurance Center. Among these measures, they proposed to enhance the quality and efficiency of the reinsurance industry, support reinsurance institutions in increasing capital and expanding shares, and issuing supplementary capital tools to improve the capacity for internal capital accumulation and external capital supplementation, thereby strengthening the reinsurance industry's capabilities. The initiative aims to guide the insurance industry to focus on major national projects, strategic emerging industries, and livelihood security, consolidating insurance and reinsurance underwriting capabilities to enhance risk protection levels. It also supports reinsurance institutions in leveraging their professional technical advantages to assist the insurance industry in reducing risk.

  • Sources: Saudi Arabia Plans to Expand Oil Pipeline to Red Sea, Increasing Capacity by 2 Million Barrels Daily to Bypass Strait of Hormuz

    On July 7, five informed sources revealed that Saudi Arabia is considering expanding the crude oil pipeline capacity to its western coast on the Red Sea, allowing Saudi Arabia and its neighbors to transport more oil without passing through the Strait of Hormuz. This east-west pipeline, built in the early 1980s, has gained strategic importance since the outbreak of the Iran war in February and the disruption of shipping in the Strait of Hormuz. The pipeline can deliver up to 7 million barrels of crude oil per day to the Red Sea port. The CEO of Saudi Aramco stated in May that approximately 2 million barrels are supplied to west coast refineries, while about 5 million barrels are for export. Sources indicate that Saudi Arabia is in preliminary discussions with some neighboring countries regarding the pipeline expansion, aiming to add about 2 million barrels of pipeline capacity per day. It remains unclear whether Aramco's planned expansion involves upgrading existing infrastructure or constructing new pipelines. One source mentioned that the expansion plan also includes a smaller refined oil pipeline. Two sources indicated that the expansion scale could range from 1 million to 2 million barrels per day, with refined oil also being considered. Another source stated that the project would take several years and cost billions of dollars, requiring adjustments to Saudi crude pricing mechanisms.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company