HUSD V2.0 is available in experimental mode and has an important difference from the previous version. Thus, in HUSD V2.0, the fixed exchange rate (1: 1) was eliminated. Now, the stablecoins are exchanged at the market exchange rate in US dollars, which is determined in accordance with the fiat-cryptocurrency pairs of the largest stock exchanges.
In this regard, the exchange of stablockcoins is no longer carried out automatically – users themselves are invited to choose the time of exchange and the volume of the transaction.
For example, if a user exchanges 1,000 PAX for HUSD while the PAX / HUSD rate is at 0.9998, he receives 999.8 HUSD, and not 1,000, as before. In the same way, the exchange works in the opposite direction.
At the time of the update on January 24, Huobi will suspend the possibility of input / output of steylebcoins. In test mode, HUSD V2.0 will run from January 25 through February 25. At this time, the exchange is ready to accept the wishes of users regarding the functioning of the updated tool.
Recall that Huobi launched the HUSD tool at the end of November 2018. The other day, Huobi Global CEO Livio Weng (Livio Weng) said that 70% of the company’s revenue is generated by transaction fees at Huobi Global.