Dear Hotbit users,
We are truly grateful for your patience. Hotbit will gradually restore various services in the next 2 weeks. The following is the steps and time line of the whole process.
In the last announcement, we explained the frozen crypto assets in detail (click here for the Announcement of Hotbit Platform: Part 1). According to the processing scheme of the deficit system in the Hotbit 2.0 transparency plan (click here for the deficit system announcement), Hotbit will implement the deficit system for the first time under the premise of force majeure. There are 33 types of crypto assets will be affected.
In this implementation, for each crypto asset that needs deficit treatment, Hotbit will define a baseline first, then T = (amount - baseline)* Deficit Rate is calculated. If T is positive, then this part will be converted to deficit assets beginning with DF prefix and processed through the deficit system.
The following is a list of all affected assets and corresponding parameters:
*The baseline and deficit rate of each token/coin is continuously updated.
The following is the complete timeframe plan for the recovery of Hotbit:
- Sept 11 - Sept 18: Audit and treat deficit of platform assets;
- Sept 12 - Sept 14: Gradually restore the deposit, trading and investment service of all assets which are not affected by deficits, and resume the trading service in the Leveraged ETF;
- Sept 12 - Sept 18: Gradually resume the deposit, trading and investment service of deficit-handling asset;
- Sept 14: Recover the withdrawal service of all assets which are not affected by deficits (except for a small number of tokens/coins with node problems and tokens/coins in Stable area);
- Sept 18: Open trading service for deficit assets;(delayed)
- Sept 19: Process HTB airdrop for deficit assets, start HTB Staking plan and recover withdrawal service of various tokens/coins affected by deficits and tokens/coins in Stable area (withdrawal service of various tokens/coins affected by deficits and tokens/coins in Stable area have been opened at 05:10 AM on September 19th, 2022 UTC) (except for a small number of assets with node problems)
We expect that there will be a large influx of users into Hotbit website and APP at that time, which may cause instability in various services. Please wait a little patiently. Like you, we have been waiting too long for this moment! If you have any questions or concerns, please don't hesitate to submit the support ticket to us.
September 11th, 2022
Hotbit’s Official Website: https://www.hotbit.io/
Telegram Announcements: https://t.me/Hotbit_announcements