Huobi Global is excited to announce the official launch of HXTZ, an Ethereum-based wrapped version of XTZ (Tezos), starting November 3, 2020, at 10:30 (GMT+8). This initiative enhances cross-chain liquidity and decentralized finance (DeFi) accessibility while maintaining 1:1 asset backing.
Introduction to HXTZ
XTZ (Tezos) is a Turing-complete smart contract platform launched in September 2018. Its self-amending protocol avoids hard forks by allowing token holders to vote on upgrades. Tezos uses Liquid Proof-of-Stake (LPOS) and formal verification for enhanced security.
HXTZ Key Features:
- 1:1 Asset-Backed: Each HXTZ is fully collateralized by 1 XTZ.
- Interoperability: Bridges Tezos and Ethereum ecosystems.
- Transparency: All reserves are publicly auditable.
👉 Discover how HXTZ boosts DeFi liquidity
Advantages of HXTZ
Stable Value
- Fixed 1:1 redemption with XTZ.
High Liquidity
- Inherits XTZ’s market depth for DeFi applications.
Fast Transactions
- Deposit/withdrawal confirmations under 5 minutes.
Transparent Reserves
- Real-time audits via Ethereum and Tezos block explorers.
Multi-Agent Support
- Future plans for third-party redemption services.
How to Convert Between HXTZ and XTZ
- To HXTZ: Deposit XTZ to Huobi Global, withdraw as HXTZ.
- To XTZ: Send HXTZ to Huobi’s designated address for XTZ redemption.
Frequently Asked Questions (FAQ)
Q1: Is HXTZ pegged to XTZ?
A: Yes, it’s 1:1 backed by XTZ reserves.
Q2: Can I audit HXTZ’s collateral?
A: Yes, all reserve addresses are public.
Q3: What’s the transaction speed for HXTZ?
A: Typically under 5 minutes per transfer.
Q4: Will HXTZ support other blockchains?
A: Currently Ethereum-only; cross-chain support may expand.
👉 Explore wrapped tokens in DeFi
Official Resources:
- HXTZ Contract:
0x4A10307E221781570E4B7E409EB315F11E8D0385
HXTZ merges Tezos’ security with Ethereum’s DeFi ecosystem, offering seamless asset utility. Huobi Global continues to innovate with partners to broaden HXTZ adoption.
Last Updated: November 2020
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