Executive Summary
Huobi HTX has announced the listing of MANYU ($MANYU) for spot and isolated margin trading against USDT today, a decision influenced by the HTX DAO community governance, signaling a shift towards decentralized asset selection. The Ethereum-based meme coin is inspired by a viral Shiba Inu and its listing on a major exchange through a community-driven process highlights evolving trends in crypto asset onboarding.
The Event in Detail
Huobi HTX will initiate spot trading for MANYU/USDT and enable MANYU/USDT (10X) isolated margin trading on September 29th at 16:00 (GMT+8). The deposit service for MANYU is already operational. This listing is a direct result of a recommendation from the HTX DAO community governance, which uses $HTX as its primary credential for decision-making. MANYU is an Ethereum-based meme coin inspired by a well-known Shiba Inu dog named Manyu, which has garnered a significant social media following on platforms such as Instagram. The project aims to transition this established fanbase into the Web3 space.
Financial Mechanics & Business Strategy
The MANYU token operates on the Ethereum blockchain with a substantial fixed supply of 1 quadrillion tokens. Its design incorporates a deflationary model with 100% burnt liquidity and zero transaction taxes, a feature intended to reduce selling pressure and encourage holding. Furthermore, contract ownership is renounced, aiming to mitigate risks associated with centralized control. As of a recent report, MANYU's last recorded price was $0.00032, with a market capitalization of $323.55K and a 24-hour trading turnover of $81.08K. Its all-time high stands at $0.03, while its all-time low was $0.0000089. The circulating supply is approximately 999.31 million tokens.
The listing process highlights HTX DAO's "Token Listing and Delisting Governance by Recommendation mechanism," introduced via the HIP-005 proposal in early July. This mechanism positions $HTX holders as direct participants in the exchange's asset selection, moving beyond passive ownership to active decision-making. The official tokenomics of $HTX allocate 50% of quarterly revenue to buy back and burn $HTX, directly linking platform trading activity and fee revenue to the token's scarcity. The successful listing of recommended projects like MANYU is designed to drive fee revenue, increasing $HTX buybacks and burns, and incentivizing governance participants with potential rewards such as fee cashback or point-based incentives. This strategy aligns with MANYU's own ambitious roadmap, which includes transitioning from a meme coin to a multi-chain ecosystem featuring a decentralized exchange (ManyuSwap), NFT collections, play-to-earn games, cross-chain interoperability, and a dedicated blockchain, Manyu Chain, by 2026. The project leverages significant public endorsement and active participation from key members associated with the original Shiba Inu project, aiming to replicate its success by integrating meme-driven hype with structured utility.
Market Implications
The listing of MANYU on Huobi HTX is likely to generate significant short-term trading volume and potential price volatility, characteristic of meme coin listings on major exchanges. The integration of MANYU through HTX DAO's governance model signifies a broader trend in the Web3 ecosystem towards decentralized decision-making for platform asset selection. This approach, where $HTX holders directly influence listings, enhances transparency and community ownership, potentially redefining DeFi governance models. However, the long-term success of MANYU and the broader impact on investor sentiment will depend on its ability to deliver on its ambitious roadmap, including the development of DeFi tools, NFTs, and a dedicated blockchain. The initial phase of HTX DAO's listing initiative included MANYU among eight shortlisted projects, selected based on community engagement and market sentiment, highlighting the shift towards community consensus in project visibility. The incentive structure, including a 10 billion HTX prize pool for voting participants, aims to foster active engagement, potentially driving user retention and network effects for the HTX platform. This development may influence how other exchanges consider integrating community governance into their listing protocols, further decentralizing control within the crypto market.
source:[1] Huobi HTX to list MANYU (Manyu) at 16:00 today, and will simultaneously add MANYU/USDT (10X) isolated margin trading - TechFlow (https://www.techflowpost.com/newsletter/detai ...)[2] ListedOn — Real-Time Cryptocurrency Listings & New Trading Pairs on Top Exchanges (https://vertexaisearch.cloud.google.com/groun ...)[3] Technical Analysis of MANYU / USDT PERPETUAL SWAP CONTRACT (KCEX:MANYUETHUSDT.P) - TradingView (https://vertexaisearch.cloud.google.com/groun ...)