Since Binance launched BNB in 2017, exchange tokens have become a standard feature, offering trading fee discounts and IEO participation. However, most follow a similar centralized model. $HTX, launched just a year ago, is challenging this norm by introducing a decentralized governance approach.

$HTX: Not Just Another Exchange Token

Unlike traditional exchange tokens, $HTX is the governance token of HTX DAO, an independent decentralized organization. While it shares a name with HTX Exchange, it is not controlled by it. Instead, $HTX holders actively shape the ecosystem, proposing and voting on governance decisions.

HTX DAO, launched in early 2024, aims to build a more transparent and decentralized digital economy. HTX Exchange supports $HTX’s utility but has no direct control over it. This is a stark contrast to tokens like BNB or OKB, which are fully controlled by their respective exchanges.

Decentralizing the Governance of a Centralized Exchange

HTX DAO’s ambition is bold: Can a DAO influence a centralized exchange’s decision-making?

According to CoinDesk, the HTX DAO empowers token holders to shape the future of the platform by participating in its governance. This is an invitation to people who have come to rely on the platform to get involved, stay engaged, and keep the day-to-day management transparent and hold them accountable.

To encourage governance participation, HTX DAO allows $HTX holders to propose and vote on decisions that could impact HTX Exchange’s operations. Governance discussions include token listings, fee structures, and product enhancements. If a proposal gains traction, it has the potential to be implemented by the exchange.

Beyond governance, HTX Exchange integrates incentives for $HTX holders, including:

A standout example is Launchpool, introduced in December 2024. This initiative—originating from an HTX DAO governance proposal—allows users to stake $HTX and earn dual rewards, demonstrating how DAO-driven innovation can shape real-world exchange features.

The Future of DAO-Governed Exchanges

HTX DAO is still young, and transitioning a centralized exchange toward decentralized governance will take time. However, early experiments like Launchpool and governance-driven discussions show real potential.

Recent proposals include optimizing the token listing process and refining governance mechanics. As more users participate, HTX DAO could redefine how exchanges operate, moving power from corporate leadership to the community.

For HTX Exchange, this is more than an experiment—it’s a vision. By allowing the community to co-govern exchange operations, HTX DAO aims to create a truly “people’s exchange.”

$HTX: A New Era of Exchange Tokens

Unlike traditional exchange tokens that serve as mere discount tools, $HTX is a governance asset that actively influences an ecosystem.

Since its launch, $HTX has been listed on 28 exchanges, reflecting growing recognition. As its unique governance model gains traction, broader adoption is inevitable.

As CoinDesk put it, “While all exchange tokens have the same purpose, they don’t all behave the same or offer the same range of benefits. The HTX token, though, seems to check all the boxes:

If BNB defined the first generation of exchange tokens, $HTX is leading the next wave—where governance and decentralization take center stage.

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