HTX DAO has successfully secured a total liquidity pledge of $42.5 million following the second round of its Ecosystem Liquidity Pledge on July 16, 2024. This latest pledge involved the allocation of 80,223,880 TRX and 9,631,105,301,954.7 $HTX, equivalent to 21,500,000 USDT, to SUN.io for liquidity enhancement. All LP tokens from this allocation have been credited to a zero address, ensuring they are permanently removed from circulation.
Details of the pledge transactions can be verified via TRONSCAN, the TRON blockchain explorer, with specific transaction hashes available for scrutiny. This includes the hash for adding liquidity (acd664c12d9c32e50dce2fd1c9efea4a6b19793949c515ed49ac06cb620e1331) and the hash for sending LP tokens to the zero address (4a3912ed71f10ca59fbcc2fd61378a4cc54171f78e10f4b091cb0c5aeedfb44e). For additional information, interested parties can refer to the official announcement document.
The Ecosystem Liquidity Pledge mechanism is designed to foster a decentralized community and address security concerns and allegations of centralization. This approach not only enhances the resilience and self-sufficiency of the HTX DAO ecosystem but also ensures transparency and accountability. Since the initial pledge of $21 million on March 15, 2024, the total liquidity pledge has now doubled, with the next round scheduled for October 15, 2024.
The liquidity pledge sources include 50% of HTX's quarterly revenue and contributions from other key participants within the HTX DAO. These funds are used to add liquidity for the $HTX token on decentralized exchanges, with the resulting LP tokens being permanently burned. This mechanism allows any HTX DAO participant to voluntarily donate liquidity to $HTX or TRX, improving the decentralization and security of asset management within the ecosystem. By ensuring no single entity can control the treasury, HTX DAO addresses centralization concerns and strengthens the security of its liquidity pool and $HTX applications.
Founded on January 18, 2024, HTX DAO has attracted 19 major builders to its ecosystem, including prominent names such as TRON, Poloniex, BitTorrent, and Spark Digital Capital. These contributors from various sectors within the blockchain industry help uphold the DAO's high standards of transparency and community participation. HTX DAO aims to create a diverse and dynamic landscape where contributors, innovators, and stakeholders collectively shape the future of blockchain technology.
HTX DAO's innovative governance approach, which relies on a decentralized structure rather than traditional corporate hierarchies, encourages openness and community-driven proposals. This approach aims to promote the ongoing development and success of the HTX DAO ecosystem.
