Global Huobi Eco Chain (HECO) Knot Campaign Surpasses 12.8 Million Votes
LONDON, July 12, 2021 / PRNewswire / – Huobi Eco Chain (HECO), a decentralized and EVM-compatible public chain, today announced that it has surpassed 12.8 million votes in its Global Node campaign, marking an important step in ensuring that HECO remains stable and decentralized as it evolves globally and welcomes new projects and decentralized applications (dApps) to the ecosystem.
On HECO, major nodes are eligible to make operational decisions for the management of the platform, and major nodes and backup nodes are rewarded with on-chain transaction fees. 50% of all transaction fees on the HECO are split evenly across each master node, while 40% is split across 21 master nodes based on the corresponding share of the total Huobi Token (HT) locked. The remaining 10% is distributed to backup nodes based on each node’s share of the total HT lock.
Node voters play an important role in building the HECO ecosystem, so they are rewarded financially when they vote for the nodes chosen as primary and backup nodes on the HECO chain. According to the voting rules, at least 70% and up to 100% of the total revenue received by the nodes is dedicated to voters and varies depending on the initiator of the node or the community. Voters can access the HT they promised within three days of voting. With huge rewards to be won, HECO’s Global Node Campaign has attracted tens of thousands of voters.
HECO previously announced the 11 validation nodes that have been elected by the community to join the ecosystem, many of which have specific distribution models for voter income. For example, MDEX distributes 100% of its revenue, while Lightnet distributes 95%. Coin98 distributes 80% of the income to voters and allocates 20% to airdrops, AMAs and other HECO community activities. CoinWind distributes 90% of the income to voters and the amount will be dynamically adjusted in the future based on the income of the nodes.
According to KingDate data, the average APY (annual percentage return) of the 11 chosen nodes exceeds 16.5%, which is a higher percentage than other asset mining aggregators and lending platforms. Hashed’s APY is 19.82%, Animoca Brands APY is 19.11%, while CoinMarketCap’s APY is 18.98%.
In addition to the potential financial rewards, voters were drawn to the election campaign due to the participation of well-known organizations, including Animoca Brands and CoinMarketCap, which bring other benefits to the decentralization and construction of HECO. For example, Coinwind has engaged in building HECO and supporting projects, especially those in DEX and loans. Lightnet promotes the use of HECO in the financial and commercial industries, in particular DeFi projects. MDEX has set up an ecosystem fund to support promising HECO and Ethereum projects and even launched a project support plan to facilitate the development of these projects.
To further encourage ecosystem development, HECO has set up an ecosystem fund for projects in various sectors, including DEX lending and prediction markets. HECO also launched a new “We Make the Future” event to attract more talented developers to contribute to the growing ecosystem.
“The HECO chain envisions a vibrant community of developers and institutions creating applications and services to drive global usage of the HECO network,” said Leo Su, director of HECO. “We define success as allowing any person or business in the world to have equitable, affordable and instant access to the HECO chain. With the participation of many well-known organizations and institutions in the election of the HECO main network node , we believe this will be achieved soon. “
HECO is an EVM-enabled public chain that provides blockchain developers with an efficient and inexpensive on-chain environment for decentralized applications (dApps), smart contracts, and digital assets. To date, HECO has registered around 10.4 million addresses in total with 419 million transactions carried out on the platform.
SOURCE HECO channel