HIBTC | REVIEW #1

HIBTC - Exchange of shared virtual assets

I want to provide general information about the new cryptocurrency exchange; HiBTC.

This Exchange has an interesting name, which is a word consisting of two separate words; Hi and BTC. BTC is what we know as Bitcoin which is the first cryptocurrency made on blockchain. It would not be wrong to call Bitcoin the mother of all crypto currencies. Hi is a synonym of Hello. The HiBTC exchange name only defines the interaction of people with cryptocurrency that never ends. It also aims to remind users to be loyal to the original aspirations of Bitcoin and other cryptocurrency.

HBIT Native Tokens and Holder Privileges
HBIT is an original token from the HiBTC platform. There will be 10 billion HBIT tokens issued and this number has been fixed. There are several privileges obtained through holding HBITtokens which includes the following:

Revenue
Revenue Shares platform will be distributed among platform users holding HBIT tokens. Distribution will be carried out every day and it will be carried out in accordance with bonus rules.

Participating in Government
Holders HIBT will have the right to participate in decisions related to the platform. the process of making through voting. Voting will be facilitated by a smart contract voting system.

Participate in Community Supervision
Members of the Community Committee will be chosen by HBIT holders. Selected supervisors will report their activities to the community when they do their work. At the end of their service, new committee members will be selected through voting.

List Recommendations
Some specific HBIT holders will be given the right to recommend a list of tokens.

Reward Scheme

Benefit sharing
Platform revenue will be distributed among HBIT holders and the remaining income will be used to operate the platform. Snapshots will be taken every hour to determine the user's HBIT shareholder status. Accumulated dividends for each day will be paid on another day.

To encourage users to hold HBIT in the long run, the "Dividend Bonus Program" is introduced where, part of the participating HBIT will be locked for a certain period with bonus rewards.

1 + 1 Currency List Mode
There will be two list modes provided by HiBTC, namely Platform Selection Channels and HBIT Holder Recommendation Channels.

The Platform Selection Channel requires coin representatives who wish to be registered at HiBTC to obtain and lock certain amounts of HBIT as "investor protection funds" that will be opened during the record period. In the case of fraud this fund will belong to investors who suffer losses caused by fraudulent perpetrators.

The Recommendation Holder Channel requires a certain amount of HBIT that the user must hold to be able to recommend tokens to be included. After the recommended support reaches a certain level, the platform will issue an invitation to the desired project.

Funds shared by the
1.8 billion HBIT Holders made will be confined to the Holders' Joint Fund. This fund will be locked until mining is complete. Dividends belonging to this section will be used to buy back HBIT to form a secondary market and those who are bought back from the secondary market will be included in the funds as well. All HBIT accumulated in this fund together with dividends will be allocated to users after mining is completed. Distribution and key opening plans will be published after mining is competed.

Transaction Mining
This model consists of mining "transaction + token holding", where the allocated token will be given to the user. Every time a user makes a transaction on the platform, there is a transaction processing fee generated. Based on the amount of HBIT held by the user and the market price of processing fees paid by users and HBIT market prices, the amount of HBIT that is valued is calculated based on the formula given in the white book.

In order for the model and platform to be sustainable, the quantity of mining every hour from each account will be limited. On the other hand, users will be able to increase their mining value by only increasing the amount of HBIT they hold. In this way, their rate of return and mining per hour will increase.

More details
Website link: https://www.hibtc.com/#/act/homepage
Link the white paper: https://www.hibtc.com/om/about/en-us/whitepaper.pdf
Author: https://bitcointalk.org/index.php?action=profile;u=1251879