Successful Launch of HTX DAO and People’s Exchange 2024: Justin Sun Aims to Build HTX as the People’s Exchange
Singapore, February 3, 2024 – The HTX DAO 2024 and People's Exchange Launch Ceremony took place in Singapore on February 2. The event marked the beginning of the HTX exchange's journey on decentralization and signaled the People's Exchange as its core ethos.
At the event, Justin Sun, a core supporter of HTX DAO and member of HTX's Global Advisory Board, delivered a keynote speech, unmasking the first People's Exchange in the cryptocurrency space and highlighting the need for decentralization. He also shared his vision for HTX DAO and the exchange, along with the HTX DAO Governance Committee, ecosystem participants, and media outlets.
HTX DAO: Empowering the Community
Justin Sun pointed out that only a decentralized governance model can prevent tragedies like FTX and Mt. Gox from happening again and ensure the long-term security of users' assets while raising the asset ceiling, under the continuous growth of the industry. Moreover, only through decentralization can the blockchain and exchange industries reach a trillion-dollar level of asset scale. HTX DAO will lead the industry's evolution and create a new paradigm for protecting user assets in the exchange industry.
It is reported that HTX DAO was officially established on January 18, with the aim of being a leading decentralized autonomous organization in the blockchain ecosystem and focusing on open finance and tokenized economy. The name of HTX DAO encapsulates its identity and strategic direction as a decentralized autonomous organization:
The "H" symbolizes the HTX exchange, highlighting its noteworthy role within the HTX DAO ecosystem as the largest contributor to ecosystem liquidity.
The "T" signifies the TRON blockchain, the technological foundation driving the HTX DAO ecosystem forward.
The "X" embodies change and potential that blend in a multitude of beliefs at the heart of HTX DAO's vision. The "X" also stands as a symbol of the broad spectrum of reputable entities that will form the bedrock of this DAO ecosystem.
Sun stated that HTX aims to transform into a decentralized, democratic, and autonomous exchange, which will be achieved through HTX DAO. This unique approach will empower $HTX holders to vote on listings, raise questions, and participate in decision-making and governance, propelling HTX towards decentralization. Ultimately, they will become the true owners of the platform.
HTX DAO Gives the HTX Exchange a Second Life
During the ceremony, Sun expressed that HTX DAO has given the HTX exchange a new lease of life. With a decentralized governance approach leading the next decade of development, HTX can operate sustainably for generations to come.
As per Sun, with the support of HTX DAO and the HTX token, HTX will retain its centralized operational structure while embracing decentralized governance, branding, and decision-making, showcasing vitality and competitiveness as a democratic community.
Sun also highlighted HTX DAO's strengths in community decision-making, governance, and operations. It will establish the HTX Senate, igniting active debate and decision-making regarding the development of HTX. With the principle of "From the Community, For the Community," HTX is poised to be a true people-centric exchange.
It is worth noting that besides HTX, HTX DAO has attracted more builders for its ecosystem, including projects and institutions such as Ankr, Spark Digital Capital, Double Peak Capital, Zebec, Merkle 3s Capital, TRON, BitTorrent, JustLend DAO, Poloniex, Sun.io, Spark, Stratified Capital, stUSDT, APENFT, etc. At the same time, as co-builders, HTX, TRON, BitTorrent, and APENFT will contribute funds to support HTX DAO's liquidity, jointly promoting the development of HTX DAO.
Summing up, Sun stated that HTX has gone through a decade as a centralized entity and hopes to accomplish its transformation to decentralization over the next decade, reaching long-term stability with a mechanism of complete democracy and transparency as a true People's Exchange.
It is reported that this ceremony has garnered widespread attention from the HTX community and the cryptocurrency market. Web3 leading institutions attended the ceremony, such as Fireblocks, HashKey, Bithumb, and Paradigm, as well as media outlets like The Wall Street Journal, The Korea Times, FT Chinese, The Straits Times, Golden Finance, PANews, and others.
About HTX DAO
As a multi-chain deployed decentralized autonomous organization (DAO), HTX DAO demonstrates an innovative governance approach. Unlike traditional corporate structures, it adopts a decentralized governance structure composed of a diversified group, jointly committed to the success of this organization. This unique ecosystem advocates open values and encourages all DAO participants to propose collaborations and protocol enhancements that can promote the development of HTX DAO.
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