Hoo adds HOO Token as a pledged asset into Hoo Collateral Loan

On October 13, Hoo, one of the world’s leading blockchain asset service platforms, issued 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 loan deposit for subsequent lending operations and the current HOO 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.

HOO Token

According to the display in the Hoo APP, the current Hoo Collateral Loan has supported 16 types of lendable assets, in addition to mainstream encrypted assets, it also includes PAX, BTM, DOT, FIL, etc. This means that users who hold HOO can borrow 16 kinds of encrypted assets through a ” Collateral Loan”. 

The person in charge of the relevant business of Hoo said, HOO is supported as the margin of pledged lending, the purpose is to expand the application scenarios, continue to empower the value of HOO, help HOO holders to add more investment options.

It is understood that the current application scenario of HOO, in addition to the newly launched pledge loan, has been implemented in a number of business lines such as Spot, HooPool, Hoo Labs, and VIP user privileges.

In addition, 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 on-chain fuel (Gas) but also enables it to form interactions with many projects on the chain, thus increasing the liquidity of HOO.

Hoo Group

Hoo Group was founded in 2018. After 3 years of development, in addition to operating the world’s leading cryptocurrency exchange, Hoo Group’s business covers the entire blockchain ecosystem with over 2.4 million total users covering more than 120 countries and regions worldwide. 

So far, Hoo Group has established a complete product business matrix with better ecological services. The core businesses include OTC, Spot, Futures, HOO Token, Collateral Loan, Hoo Earn, HooPool, HooSwap, Hoo Custody, Hoo Investment, Hoo Mining, etc.

It is worth mentioning that since August this year, Hoo Group has been stationed in Dubai to conduct blockchain and crypto asset-related business under the local regulatory compliance framework.

According to the person in charge of Hoo Group in Dubai, Hoo is currently promoting cooperation with local enterprises and government. Relying on Hoo’s complete blockchain industry eco-infrastructure as well as technology research and industry research resources, Hoo will work with local governments and enterprises to promote the development of blockchain technology and applications in the region.

Conclusion

Hoo is currently more than simply a platform; it is also a comprehensive blockchain industry with an ecological infrastructure, technology research and development, industry research, and others to support the local growth of blockchain technology and applications. 

As the ecological development of Hoo Group continues to accelerate the pace of expansion to globalization and involve a wider range of fields, the Hoo Group platform pass HOO will also present its value in more scenarios.

Begin planning to have everything on your side by utilizing Hoo as a primary platform and taking advantage of its offerings. 

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