1.Why Huobi Trust as the custodian?
The assets shall be safely kept because of the centralized cross-chain. And it is an arduous task to ensure the security of assets, both technically and institutionally. The licensed institutions under listed companies are the most suitable entities to cooperate.
Huobi Trust Company Limited (Huobi Trust) is an indirect wholly-owned subsidiary of Huobi Technology Holdings Limited (stock code: 1611). As a compliant digital asset trust and custodian services company that is committed to serve our global clients, Huobi Trust is a registered Trust Company under the Hong Kong Trust Ordinance and is fully licensed under Hong Kong Trust or Company Service Provider (TCSP) license.
2.What kind of the wallet of Cardano accounts?
Most popular: Yoroi (https://yoroi-wallet.com/)
or Nami Wallet (DApp friendly wallet) ( https://namiwallet.io/)
Help center of Yoroi（https://yoroi-wallet.com/#/faq/1）
Quick Start Guide of Daedalus（https://iohk.zendesk.com/hc/en-us/articles/360011602173-Quick-start-guide）
3.How can I get ADA
The most comprehensive and up to date list of exchanges selling ADA is at https://coinmarketcap.com/currencies/cardano/#markets
4.Does Huobi Trust have other roles besides custodian?
In addition to asset custodia, Huobi Trust will also participate in the review of the withdrawal of CBTC official personnel. If any assets are withdrawn, Huobi Trust will ensure that the amount issued on the Cardano chain is less than the amount of funds in custody.
5.Why customers need to register a Huobi Trust account and complete KYC before minting?
Because we accept mainstream assets in the crypto world, which involves serious anti-money laundering issues. If users failed to register in Huobi Trust, our CBTC officials will come to do KYC/AML on users and users’ funds. The registration on Huobi Trust can reduce the pressure of the project party on users' KYC/AML. Huobi Trust is a licensed compliance trust company, their KYC requirements for users will ensure the safety of the user assets received by CBTC.
If any problems with registration, please contact the customer service of Huobi Trust in time. The official customer service contact information is at the bottom of Huobi Trust's official website (https://www.huobihktrust.com/en-us/). You can also make an appointment for the service time experienced by their customer service.
6.How long will it take to receive C-tokens after the transformation of underlying assets?
Within 30 minutes. If you do not receive it, please contact our customer service in the telegram group in time.
Please identify and make a confirmation of whether the customer service staff is an admin when contacting customer service. Do not disclose your Huobi Trust login password and Cardano address private key to customer service, otherwise your assets may be stolen by counterfeit customer service personnel.
7.How long after the burning of C-tokens can customers receive the underlying assets in the trust account?
Within 24 hours, you will automatically receive the underlying assets in the trust account you opened. Please check it carefully.
8.Why need to transfer funds to the designated address to activate the Cardano address?
In order to ensure that you have the ownership of the bound address and ensure that you can receive C-tokens.
9.Why the funds I deposited to Huobi Trust have not been posted to the account
There are several reasons:
-The deposit amount is less than the minimum amount required;
-The confirmation time on the chain is relatively long. Under normal circumstances, 30minutes~60minutes for BTC, 15minutes~30minutes for ETH or ERC20
-It was not posted to the account due to AML;
-If it is not for the above reasons, please contact Huobi Trust customer service in time.
10.Notes at burning
-Register the Huobi Trust (https://www.huobihktrust.com/) account and complete the KYC, then link to the CBTC account.
-The minimum amount of burning that being required for payment must be sent to the designated Cardano address, otherwise the burning would be failure, and the assets cannot be retrieved if the wrong address is entered.
-After 24 hours, confirm whether the assets have been received in the Huobi Trust account. If not, please contact Telegram customer service in time.
11.Can C-tokens be retrieved if transforming to the wrong address
Sorry, it cannot. Because of the features of blockchain, C-tokens are set in accordance with the issuance standard of Native token on Cardano. No one can retrieve or freeze the C-tokens of a specific Cardano address.
|Items of fee||Rate of fee||Remark|
|Huobi Trust custody fee||0.15%～0.4% per year, tiered pricing||Custody fee for opening an account with Huobi Trust|
|C-tokens minting cost||0.3%||CBTC project parties charge service fees|
|C-tokens burning cost||0.2%||CBTC project parties charge service fees|
|Huobi Trust withdrawal fee||0.03%||The Huobi Trust service fee for the withdrawal of custody account only occurs when the user burning the coin|
13.Minimum amount of minting and burning
|Type of asset||minimum amount of minting||minimum amount of burning|
You will not be able to get the corresponding C-tokens if the transformation assets less than the minimum minting amount
You will not get the corresponding underlying assets if the amount is less than the minimum amount of burning
14.What is the Policy ID of your token？
Currently, we do not support China, Japan, the United States, Cuba, Iran, North Korea, Syria, Crimea, and countries/regions sanctioned by the United Nations.
We are also communicating with custodians that support more countries, and will include more custodians to serve more users in the future.