Huobi will list the FTX Users' Debt (FUD) spot trading pair on February 6th.
DebtDAO has an unknown origin, with fewer than 100 followers on its official Twitter account and no official website.
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FTX Users’ Debt FUD
According to an official announcement from Huobi, FUD is issued by DebtDAO, with Huobi claiming to be the exclusive platform for the highest-quality FTX debt assets:
Initial supply: 20 million
Initial issuance stage: 1 FUD = 1 USD
Fair price: 0 < 1FUD ≤ 5USDT depending on market fluctuations
DebtDAO indicates that initial liquidity represents approximately 2% of the total FTX debt. Once FTX resumes user data or confirms the total debt, a second public offering will be conducted based on the actual amount, and all FUD holders will receive an airdrop.
For example, assuming the total debt is $60 million, DebtDAO will issue an additional 40 million FUD. Users holding 1 FUD before the second public offering will receive an airdrop of 2 FUD.
After the airdrop, DebtDAO will repurchase from all holders at a price of 1 FUD to 1 USD.
DebtDAO also encourages debtors with over $10 million in debt to contact DebtDAO for debt audits and issuance to enable debt circulation in the secondary market.
Listing Information Taipei Time:
Deposit Open: 2/5 15:00
Spot Trading: 2/5 20:00 Trading pairs FUD/USDT
Withdrawal Open: 2/6 20:00
Contract address TRC20: TQWQTZ7LzyttfnHQyfLUkKUs8eZZepgXiQ