According to the official announcement of Huobi HTX, Huobi HTX launched the dynamic interest rate product for staking and borrowing at 11:00 Beijing time on December 2. USDT, BTC, and ETH lending will be opened in the first phase, and the corresponding currency staking will be supported. More options will be expanded in the future. The first phase of the "Lending is Mining" activity was launched simultaneously, with a total prize pool of 2.7 billion HTX tokens.
During the activity period, the proportion of interest expenses generated by users through the current USDT lending product will determine their share of the prize pool. The greater the proportion of accumulated interest expenses, the more HTX tokens will be divided into rewards; if the scale of the first phase of lending exceeds 30 million USDT, the prize pool for the next phase of the activity will double.