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.