Topic: HUSD: The Universal Stablecoin Issued by Huobi Global (Read 185 times)

I think the problem is not with the concept itself, but how the crypto-asset will be backed by real, tangible value!

I do support the Gold backing concept. Because, this precious metal has a more stable price. We are talking about "Tokenized Precious Metals". This is how a project like the current Gigzi will back the crypto-asset price. I really see great future ahead for this project (with a treasury/vault to store the precious metals.)

Well, it may work out in shops, where people need stable tokens to make prices unchangable. In the same time, there are a lot of similar solutions.

I also think the same, why there are many companies who are interested in making stable coins even though they already exist. Is this because it's really needed or because they have other goals such as politics and business? It seems stable coin will be the next drama after Bitcoincash, be a smart person in making decisions guys

in my opinion there are too many stable coins circulating in the market today. Are investors still interested in this type of coin?

I see the function of each stable coin is not much different from one another. so is crypto really in need of stable coins?

I saw a lot of similar stable coins, but I cannot understand why this one shoudl be demanded, when all the previous attempts were unsuccessfull.

Who needs stablecoins? We all market to grow, so we need growing coins and volatility is one of the most attractive things within the market.

I consider that most of people would like the concept, but I still cannot see clear demand and adoption field for this coin. Any thoughts?

It won't be, because it isn't really a coin.

Huobi are accepting deposits of 4 new stablecoins - PAX, TUSD, USDC and GUSD. When you deposit any of these to your Huobi account, instead of being credited with that coin you are credited with HUSD. By doing this, they combine all the stablecoin markets in to one bigger market - HUSD/BTC, HUSD/ETH, etc. When you want to withdraw your stable coin, you can choose which coin (or combination thereof) you wish to withdraw in. You can not withdraw or transfer HUSD - it is only Huobi's internal method of combining actual stablecoins.

It sounds great on paper, but they could realistically run in to problems where too many people try to withdraw a particular stablecoin and they do not have the funds to cover it, or more serious issues if one of the stablecoins is no longer worth $1, as happened to Tether recently. I'll be staying away from this system for now until we get some more information on it.

This year is the year of stable coins?
How many stable coins were introduced this year?
So many, but I think that only Gemini dollar is worth the attention, you can find independent audtior´s reports on their site which is very important.
While Tether has a real problem to be audited.

I also dont see that HUSD will be audited by some independent auditors.

The Need for HUSD
"It's no secret that community concerns have driven strong demand for stablecoins across the crypto space," said Leon Li, founder and CEO of Huobi Group. For this reason and many others just like it, Huobi Global recently announced their universal stablecoin called HUSD. The reasons to choose HUSD as your favorite stablecoin are many fold. For one, HUSD is an integrated solution targeted at multiple stablecoins. It helps to eliminate the need to choose between multiple stablecoins such as TUSD, USDT, GUSD and Pax, to name a few, and saves you money when switching in and out and between stablecoins.

HUSD Overview
When you deposit any kind of stablecoin, your tokens will be shown as HUSD in your account. You may withdraw any kind of stablecoin. In addition, when the amount of a particular stablecoin is not sufficient in your account balance, you may withdraw other stablecoins in which you have excess balances in. For example, when you deposit 20 USDT, it will show as 20 HUSD in your account, and you can withdraw 20 GUSD for example or any other stablecoin as you wish (not considering transaction fees on the blockchain). This eliminates the need and added risk of constantly researching stablecoins and following up with crypto politics.
A recent article published on ccn.com stated this exact concern and issue. The author wrote, "The BTC/USD responded to the upside action witnessed in the BTC/USDT market. USDT traders started exiting their positions amidst growing concerns about BitFinex's insolvency and its impact on the coin's liquidity. The more traders swapped USDT for other coins, the larger it dropped, eventually founding support near 85 cents. By that time, Bitcoin had established its upside just shy of $8,000 on BitFinex only - so as other top coins which recorded massive gains." I think this creates a huge problem in the stablecoin space unless we have one, universal stable cryptocurrency such as HUSD.

Owning HUSD, I believe, will create more liquidity in the markets as well as declares a larger sense of transparency and universalism. This is exactly what we need to move our space forward and into uncharted territories and thankfully Huobi Global is here to provide us with their universal version of a stablecoin.
HUSD Launch

I. The deposit service of PAX, TUSD, USDC and GUSD will start at 16:00, October 19 (GMT+8 ).
II. USDT/HUSD trading pair will be listed at 10:00 AM, October 22 (GMT+8) on Huobi Global.
III. Transfer service of HUSD between Huobi OTC and Huobi Global will start at 10:00 AM, October 22 (GMT+8), and trading services of HUSD on Huobi OTC will start at 10:00, October 23 (GMT+8).
IV. Huobi Global will commence BTC/HUSD and ETH/HUSD trading at another time after evaluating market conditions.
V. Huobi App will support the trading service of USDT/HUSD, and the deposit and withdrawal services of HUSD will be available in the next App version.
VI. Huobi Global will start the withdrawal services of the stablecoins in one to two weeks. The specific time and date will be notified via a separate announcement.
TrustToken is glad to be listed on Huobi and they are excited that many exchanges and investors value their work and see the benefits TrustToken provides to our crypto ecosystem.

To learn more, visit the Huobi website and if you don't have an account already, be sure to create one here. #HUSD #TheUniversalStablecoin #HuobiLaunches: #HUSD #Huobi #HUSD - My review is in!

You can also find Huobi online at:
Huobi Global Website: https://www.huobi.com
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