The initial total supply of FUD (FTX Users’ Debt) was 20 million pieces.

Due to the active purchase by users after the market opened, the price of FUD was much higher than the recommended price after the market opened (recommended price is 0<1FUD≤5USDT). DebtDao initiated a proposal on February 6 and after discussing with the community, it decided to destroy 18 million FUD tokens. After the destruction, the total issuance will become 2 million FUD, and the initial 1FUD=1 US dollar equivalent debt will be changed to 1FUD=10 Equivalent creditor's rights in US dollars, plus the value of the early bird airdrop, the recommended price of FUD after burning will fluctuate between 0<1FUD≤50USDT. Holders of FUD tokens do not need to do anything, and the value of FUD tokens will increase tenfold. (Early bird airdrop: DebtDao will conduct FUD airdrops to FUD holders in addition to 20 million equivalent debts based on the actual debt amount announced by FTX.) Huobi has always been adhering to the concept of supporting high-quality assets and encouraging the exploration and advancement of excellent projects in the industry. After communicating with DebtDao, Huobi will support DebtDAO's proposal to destroy FUD, and synchronize the latest data after DebtDAO is destroyed. DebtDao's official on-chain destruction will take place on February 7, 2023 (GMT+8). During the destruction period, functions such as FUD assets held by users, pending orders, and order placement will not be affected. Go to Huobi’s Official Website