Huobi Is Launching a Token, But It's 'Not an ICO'

Dubbed the Huobi Token, the new issuance is set to start on Jan. 23 with a capped supply of 500 million. Huobi said the token launch "Is not an initial coin offering." Instead, the 300 million HT will be sold at a discount to users who purchase a service fee package on Huobi Pro using tether - a crypto token pegged to the U.S. dollar. While details of the packages are yet to be revealed, the company said there will be a maximum limit for each user's purchase and the minimal order will be 100 HT. The news marks the latest move by Huobi to recover since the business was severely affected by China's clampdown on domestic exchanges, according to Leon Li, founder of Huobi Group. Essentially, through the new issuance, Huobi will be able to gather service fees upfront while increasing the level of user "Stickiness," Li said.
Original source
https://www.coindesk.com/huobi-is-launching-a-token-but-its-not-an-ico/

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