Dear Steem Community,
From time to time, Huobi stakes user holdings to help block malicious activities and attacks on blockchain networks. Prior to this particular event, Steemit and Tron had reached out to seek our support.
We were informed that the Steem network was at immediate risk of an attack, an issue that directly impacts our users’ assets. We take all allegations seriously, so we worked with both teams to better understand the situation and carefully assess the risk at hand. Based on the information provided to us and out of an abundance of caution, we decided that helping Steemit and Tron was in the best interest of our users — and the network at large.
However, this action is not final. It has always been our intention to return voting rights back to the community so they can make the final decision on what the network needs. Thus we have removed the vote and will always stand behind the decisions of our users.
During our six years in operations, Huobi has worked with countless projects to ensure the safety of their networks, and our users. Hacks were rampant in the early days of blockchain, so our policy of staking voting rights (when deemed necessary to protect our users) was adopted to ensure the welfare of the broader crypto ecosystem.
In an effort to provide our users and the wider blockchain community with more transparency, Huobi will implement a new procedure to alert users of actions related to the staking of voting rights.
The Huobi Team