Hoo adds HOO Token as pledged asset in Hoo Collateral Loan – CryptoMode
October 13, Hoo, one of the world’s leading blockchain asset service platforms, released the latest announcement that it will support HOO as a pledged asset in Hoo Collateral Loan. Users can transfer HOO to the “wallet balance” as a pledge deposit for subsequent loan transactions and HOO’s current pledge rate is 55%. At the same time, before December 31, users who mortgage HOO assets can also get interest reduction coupons of up to 10.95% per annum.
According to the display in the Hoo app, the current Hoo secured loan has supported 16 types of loanable assets, in addition to traditional crypto assets, it also includes PAX, BTM, DOT, FIL, etc. This means that users who own HOO can borrow 16 types of crypto assets through a “collateral loan”.
The person in charge of the relevant business of Hoo said that HOO is supported as the margin of the pledged loans, the purpose is to expand the application scenarios, continue to strengthen the value of HOO, to help HOO holders add more investment options.
It is understood that HOO’s current application scenario, in addition to the newly launched pledge loan, has been implemented in a number of industries such as Spot, HooPool, Hoo Labs and User Privileges VIP.
Additionally, in May of this year, Hoo Global launched the Hoo Smart Chain HSC. HOO, as a native asset on the HSC, not only acts as fuel on the chain (gas) but also allows it to form interactions with many projects on the chain, thus increasing the liquidity of HOO.
Hoo Group was founded in 2018. After 3 years of development, in addition to operating the world’s first cryptocurrency exchange, Hoo Group activities cover the entire blockchain ecosystem with more than 2.4 million total users spanning more than 120 countries and regions around the world.
So far, Hoo Group has established a complete product business matrix with better green services. The main activities include OTC, Spot, Futures, HOO Token, Collateral Loan, Hoo Earn, HooPool, HooSwap, Hoo Custody, Hoo Investment, Hoo Mining, etc.
It should be mentioned that as of August of this year, Hoo Group has been based in Dubai to conduct activities related to blockchain and crypto assets under the local regulatory compliance framework.
According to the head of the Hoo Group in Dubai, Hoo is currently promoting cooperation with local businesses and government. Drawing on Hoo’s comprehensive blockchain industry eco-infrastructure as well as technological and industrial research resources, Hoo will work with local governments and businesses to promote the development of technology and applications. blockchain in the region.
Hoo is currently more than just a platform; it is also a complete blockchain industry with green infrastructure, technological research and development, industrial research and others to support the local growth of blockchain technology and applications.
As Hoo Group’s green development continues to accelerate the pace of expansion towards globalization and involves a wider range of areas, the Hoo Group pass HOO platform will also show its value in more scenarios.
Start planning to have everything on your side by using Hoo as the primary platform and taking advantage of its offerings.
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