Users of Huobi henceforth are bound to enjoy a “next-level trading experience” after a recent collaboration. In an announcement today on Twitter, Huobi revealed a collaboration with RocketX a DEX aggregator.
In the announcement, Huobi confirmed that the collaboration is a strategic one that’s aimed at boosting the development of the two firms. As revealed, Huobi will leverage RocketX’s UI and APIs to offer its users more access to liquidity.
More so, the recent development comes at the back of an ongoing promotion the cryptocurrency exchange initiated a few days to Christmas. Huobi Global waived all transaction charges for all TRC-20 tokens for a month. The promotion in line with the recent collaboration is aimed at boosting existing relationships with users.
Huobi Global is part of the cryptocurency firms that has felt the harsh impact of the bear market. Recall that in October, the cryptocurrency exchange witnessed a change in ownership. In a blog post, the crypto exchange announced that its controlling shareholder has sold the entirety of its shares.
Furthermore, a report by Binbits has it that the takeover deal is the biggest ever since the inception of this current bear market. Then, the report indicated that the takeover deal is like to worth about $3 billion.
Since the completion of the takeover deal, Huobi has gone from strength to strength partnering with firms across the industry. Likewise, the partnership trend has been extended to RocketX.
Controversies surrounding Huobi Global’s PoR
Additionally, following the collapse of FTX early last month, Huobi led the trend of releasing Proof-of-Reserve. With the move, the cryptocurrency exchange attempted to regain users trust. However, the move backfired raising questions about the transparency of the crypto exchange.
A few moments after unveiling its PoR, Huobi transferred 10,000 from wallets hosted on its exchange to Binance and OKX deposit wallets. The development raised concerns, needing another announcement from Huobi to address them.
In the subsequent announcement by Huobi, the crypto exchange explained that part of the disclosed addresses is the hot wallet address. Also, the crypto exchange assured users that their funds are safe, and it won’t impose any restrictions on deposits and withdrawals.