The world of digital assets can be incredibly volatile, with the recent Bitcoin crash following its all-time high only two months ago as an excellent example. However, for veterans of the space, this is not a new occurrence, digital assets have their ups and downs, but the future is still bright for this burgeoning investment class with exciting new projects released constantly, with over 8,000 digital assets in existence as of January 2022. Trace Network Labs is a decentralized protocol that enables lifestyle for any multichain metaverse. Trace has joined the many other digital asset projects with their $TRACE token.
The $TRACE token is the governance token for Trace Network Labs that provides network users with governance control over the protocol. On top of being the project’s governance token, $TRACE also provides incentives to the community by rewarding network participants through various incentivization mechanisms, including staking and farming.
The $TRACE token is the fuel for the network and ecosystem that is also used for transactions and participation in protocol operations, as a base token fuel to mint and acquire NFTs, and for the settlement of minted NFTs over the platform’s network and ecosystem. Recently announced was the listing of the $TRACE token on Huobi Global as of January 28, 2022, in its brand listing platform Primelist.
The $TRACE Token
The $TRACE token is the native digital asset of the Trace Network that works as a transferable representation of attributed governance and utility functions on the platform. The token was designed to be used as an interoperable utility token on the network/protocol.
The primary objective of the token is to provide a convenient and secure mode of payment and settlement for users of the platform’ to use to interact within the ecosystem on the Trace Network. $TRACE allows holders of the token to make suggestions and vote on governance proposals and protocol improvements to determine how the Trace Network will grow and evolve.
Through their incentive programs, $TRACE also provides incentives that are distributed to encourage users to help maintain and improve the Track Network ecosystem. Most of the $TRACE token’s supply will be distributed to users that actively participate in the network. Users are rewarded $TRACE when they mint NFTs, complete peer-to-peer transactions, participate in trade financings, settlement of trades, and active governance.
More on Huobi Global Digital Asset Trading Platform
Huobi Global was founded in 2013 and is a world-leading company in the digital economy industry. They provide secure and convenient trading services for hundreds of digital assets and are responsible for 100 million households around the world owning digital assets.
Huobi’s mission is to create breakthroughs within blockchain technologies and find new ways of integrating blockchain technology into other industries.
The company has expanded into industry blockchain, public chain, digital assets trading and wallet, digital economy research, and more, establishing a global industry ecosystem for the digital economy. Their global ecological layout has established local service centers in many countries and regions and helped the blockchain ecosystem integrate into multiple business forms.
Their strengths include their world-class security system, secure and reliable class services, decentralized structure and anti-DDOS protection system, and more. The $TRACE token will be listed on Huobi on January 28th, for $0.30 USD per token. There are already 1,350 queue numbers for eligible buyers, with 50 USDT registered via a queue. The deadline for ID Verification will be at 10:00 (UTC) on Jan 28. The time period for spot trading is between 13:00 (UTC) on Jan 25 to 9:45 (UTC) on Jan 28.
- Qubit Finance Suffers $80M Hack With xETH Minting Scheme
- Memories of 33x Fresh as AstroSwap Launches on Velas Chain
- NBA Star Lebron James Partners With Crypto.com for Web3 Education
- Shiba Inu Teaser Survey: Rumors Speculates SHIB and Netflix Collaboration
- Introducing Fractally: A Combined Decentralized Exchange, and Social Media Platform