Huobi released an announcement about DebtDAO's proposal to destroy FUD (FTX Users' Debt). DebtDao initiated the proposal on February 6 and after discussing with the community, it decided to destroy 18 million FUD tokens. After the destruction, the total circulation will change 2,000,000 FUD, and changed from the initial 1FUD=1 US dollar equivalent creditor’s right to 1FUD=10 US dollar equivalent creditor’s right, with an additional early bird airdrop value. After burning, the recommended price of FUD will fluctuate between 0<1FUD≤50USDT. The early-bird airdrop refers to the fact that DebtDAO will conduct FUD airdrops to FUD holders based on the actual debt amount announced by FTX, in addition to 20 million equivalent debts. DebtDAO’s official on-chain destruction will take place on February 7, 2023 (GMT+8). FUD (FTX Users' Debt) is the bond token issued by DebtDAO, the highest-quality creditor in the FTX event, and is the high-quality FTX debt asset issued by Huobi. It has been confirmed through the contract provided by DebtDAO that the amount of this debt is tens of millions of dollars, and the early bird issue will sell FTX this debt at a discount.
Miyuki
