Huobi’s Layer-1 blockchain, the HECO Network, will officially retire on January 15, 2025 (UTC). Users holding specific HRC20 assets on the network will have the opportunity to exchange them for HTX, the native token of the Huobi ecosystem. The HECO Chain, launched on December 10, 2020, is now entering its sunset phase.
The retirement process involves the removal of several HRC20 tokens, including HRC20ETH, HRC20TUSD, HRC20LINK, HRC20USDC, HRC20UNI, HRC20SHIB, HRC20HBTC, and HRC20USDT. Holders of these assets are instructed to deposit them to a designated address provided on the HecoDAO official website before January 10, 2025.
The value of deposited assets will be calculated based on their prices on November 10, 2024, with each 1 USDT equivalent converting to 1 point. These points will be linked to users’ HECO wallet addresses. By the conversion deadline of January 10, 2025, accumulated points will be tallied and redeemed for HTX. The maximum redemption value is set at 200,000 HTX per point.
The distribution of HTX will begin on January 15, 2025, and will be completed linearly over 12 batches. Users will receive their HTX at the TRON network address provided during the point redemption process.
