HTX’s “Sail Together” Relief Program
On October 20, 2025, HTX announced its “Sail Together” initiative, a $100 million USDT airdrop campaign designed to aid traders who suffered losses during the severe market crash that occurred from October 9th to 11th. The exchange described the move as a bid to “help users quickly recover from setbacks” and restore confidence.
The program is targeted and has specific eligibility requirements. It is open to global traders who incurred a minimum of 100 USDT in futures trading losses between October 9 (4:00 PM UTC) and October 11 (3:59 PM UTC), 2025. To qualify for the aid, users must register on HTX and complete Level 1 KYC (Know Your Customer) verification before the campaign concludes on November 15, 2025.
Rather than a direct cash reimbursement, the relief comes in the form of futures coupon packages. These coupons, which range in value from 50 to 5,000 USDT, are intended to be used as credits to offset futures trading fees or margin requirements on the HTX platform.
The Catalyst: October’s Market Crash
The “Sail Together” program was launched in direct response to one of the most significant liquidation events in crypto history. On October 11, 2025, the market experienced a violent crash that led to over $19 billion in liquidations within hours.
The crash was notable for its unusual price action. Certain assets, including USDe, wBETH, and BNSOL, experienced catastrophic depegs and price collapses, but this was largely confined to a single trading venue. For instance, USDe plummeted to $0.65 on one exchange while maintaining its peg everywhere else, suggesting a possible oracle manipulation attack that exploited a known vulnerability. This event wiped out a massive amount of leveraged positions and created a ripple effect of fear and instability across the entire market.
An Industry-Wide Effort to Stabilize
HTX’s relief effort mirrors similar actions taken by other major players in the industry, indicating a coordinated attempt to restore stability. Most prominently, Binance launched a $400 million relief package dubbed the “Together Initiative” around the same time. Their package included $300 million in token vouchers for retail traders and $100 million in low-interest loans for institutional clients.
By providing these substantial relief packages, exchanges are aiming to achieve several goals: cushion the immediate financial blow for their users, encourage continued participation in the futures market with the provided coupons, and ultimately, signal to the market that major institutions are willing to deploy capital to uphold stability and user confidence.
