Details of PGALA Burn Mechanism

Huobi Global has started sending the transaction fees generated on all PGALA trading pairs to the PGALA burn address (0x000000000000000000000000000000000000001) for burning.

Date: 11/5 12:00-11/6 20:00 (UTC+8)

Total destruction: 262,333,244.4 PGALA

The number of PGALA burned will be updated daily in this announcement until the end of the burning period.

Huobi will destroy the spot handling fee for the PGALA/USDT trading pair generated on the previous day from 00:00-24:00 (UTC+8) the next day.

Since the burn starts at 21:35 on November 6th (UTC+8), the fee for the first burn will be generated from November 5th, 2022 at 12:00 (UTC+8) to November 06th, 2022 at 20:00: 00:00 (UTC+8).

USDT and other non-PGALA fee assets, Huobi Global platform will subsequently repurchase these assets into PGALA before 00:00:00 (UTC+8) every day and then destroy them;

The transaction fee destruction of PGALA/USDT trading pair will not be affected by HT fee discount, fee rebate, and any form of fee adjustment or fee discount.

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