Huobi recently treated FTX users with great news. The exchange has recently listed the FTX users’ Debt (FUD) token. The bond token showcases the high-value FTX debt asset that can assist crypto users everywhere. The token will allow creditors to access a new level of liquidity, letting them trade FTX debt across the market.
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It enables greater control over digital assets, opening users to new investment opportunities. The news was provided by Justin Sun, the CEO of TRON Foundation. According to the latest tweets by Justin Sun, the FTX debt is in the tens of millions of dollars. All the crypto world enthusiasts are keeping a close eye on the Huobi exchange review to get a thorough and regulated update of all the exciting news taking place.
Thus, the early bird issuance stage is set to sell FTX debt at a discount. The rate has been set at 1 dollar per FUD token, while the FUD initial issuance and liquidity have been set at 20 million. The fair price for the same will be 0 < 1FUD ≤ 5 USDT.
Once FTX has restored the database, or once FTX officially shares the debt, DebtDAO will release the secondary public offering. This will be based on the debt amount and airdrops issued to every FUD holder. By this time, the fair price will reach 0 < 1 FUD ≤ 1 USDT.
For example, if the debt amount is around 60 million dollars, approximately 40 million FUD tokens will be released. As per the DebtDAO’s guidelines, every user holding 1 FUD token before the release of the secondary public offering will earn 2 FUDs.
These tokens will be delivered via an airdrop, after which, DebtDAO will release a 1:1 buyback offer for FUD holders. Huobi even released an official post to inform users about the development. The platform has enabled FUD deposits and withdrawals, so users can get started for spot trading as well.