Deployed on the Ethereum blockchain network, Huobi (HBCH) has now launched on Huobi Global, accompanied by opening of HBCH deposits and withdrawal services.
Launched by Huobi Global and deployed on the Ethereum network, Huobi BCH (HBCH) token aims to promote the growth of the decentralized marketplace by injecting Bitcoin (BCH), the largest and most liquid asset, into the decentralized finance (DeFi) eco-system. HBCH maintains a strict, asset-backed 1:1 peg to BCH. Every 1HBCH issued will be fully backed by the same BCH asset quantity to ensure users can perform a 1:1 exchange between HBCH and BCH at any time.
(1) Pegged Value: HBCH is strictly pegged to BCH, with a strict 1HBCH:1BCH exchange ratio.
(2) High Liquidity: BCH has the largest market capitalization across the cryptocurrency market and is the most well-known digital asset. As a token deployed on the Ethereum network, HBCH is anticipated to inject liquidity in the decentralized marketplace.
(3) Efficient Trading: Use of HBCH as a BCH on-chain asset transfer mechanism reduces the transaction confirmation period from 1hour to 5 minutes.
(4) Reduction in Trading Fees: Use of HBCH to effect on-chain BCH transfers between platforms incurs the same fee rates as other ERC20 tokens, which is relatively cheaper than BCH charges.
(5) Transparent & Verifiable: Users can verify HBCH assets on both the BCH and Ethereum side. Details of all asset transfers will be published on the official HBCH website. Users can freely verify chain HBCH assets online.
(6) Supports Distributed Services: HBCH will support distributed third-party agents exchange services.
Users can exchange HBCH for BCH and vice versa on Huobi Global (HBG) and/or HBCH official website.
Converting to HBCH: Deposit BCH to HBG. On the withdrawal page, select option to withdraw to HBCH, or deposit BCH onto the HBCH official website to convert to HBCH.
Converting to BCH: Deposit HBCH to Huobi Global. On the withdrawal page, select option to withdraw to BCH, or deposit HBCH onto the HBCH official website to convert to BCH.
HBCH project team aims to integrate centralized markets with the DeFi marketplace via the injection of BCH liquidity to the Ethereum DeFi eco-system, increasing the efficiency of digital asset servicing, and thus reducing the cost of entry into DeFi. Huobi work towards development of HBCH via partner collaboration, to provide users with a better user experience.