Huobi’s Layer 1 blockchain HECO Network has announced its official sunset date and announced that it will cease operations on January 15, 2025.
Launched on December 10, 2020, the HECO Network has served as a key part of the Huobi ecosystem, but will now transition HRC20 assets to the platform’s token, HTX.
In a statement, HECO outlined the steps for users who own HRC20 assets, including HRC20ETH, HRC20TUSD, HRC20LINK, HRC20USDC, HRC20UNI, HRC20SHIB, HRC20HBTC and HRC20USDT. Users must deposit these assets before January 10, 2025 at the addresses indicated on HECODAO’s official website.
Deposited assets will be converted into points based on their price on November 10, 2024, where 1 USDT is equal to 1 point. These points will be linked to the wallet addresses associated with users’ HECO accounts.
After the January 10, 2025 deadline, all accumulated points will be subject to final calculation and exchanged for HTX tokens.
The process is completed in 12 batches and users will receive HTX tokens at the TRON network addresses provided during the redemption process.
*This is not investment advice.