The HBTC Hobbit Exchange issued a notice saying that HBTC started the BHT upgrade and exchange for HBC at 13:00 on April 20. As of 11:30 on April 23, a total of 4.9 million HBC were exchanged and more than 117 million BHT were received. The first destruction was completed on April 23. The HBTC Hobbit Exchange is a crypto asset exchange founded by Huobi’s former CTO and co-invested by 56 capitals including Huobi and OKEx. HBC is the platform currency of the new token model launched by HBTC. On the basis of guaranteeing the original BHT rights, it also introduced two innovations: the new 10 times PE pricing repurchase model and the Hobbit captain incentive model. In addition, HBTC has also launched a platform asset transparency and transaction data trust mechanism, including 100% exchange reserve certificate and 100% exchange income certificate and financial statements, designed to ensure the safety of user assets and enhance the credibility of transaction income.