Hong Kong digital asset group HashKey Group announced on Tuesday (18th) that it will list its platform currency HSK in the third quarter of 2024. Before the listing, the company plans to initiate a community airdrop through HashKey’s core business in late June to encourage users to participate in co-construction.
In an official statement, HashKey stated that the HSK token will be used in all HashKey ecosystem core application scenarios, including community rewards, exclusive token priority purchases, cross-platform ecosystem cooperation, as well as fee deductions and business growth activities for HashKey Exchange, a licensed virtual asset exchange in Hong Kong, and HashKey Global, an international exchange.
HashKey added that HSK will also be used to incentivize contributors to the L2 “ecological chain” HashKey Chain, providing support and driving force for users and assets on the HashKey Chain.
According to official data, HSK is a token based on the ERC-20 standard with a total supply of 1 billion, of which 65% is used for ecological construction, 30% is allocated to the team, and 5% is reserved as a fund. HSK will have a mechanism for destruction to prevent dilution of holders’ rights due to the increased circulation of rewarded HSK. HashKey will extract up to 20% from the profits of specific businesses for HSK repurchases, and the repurchased portion will be destroyed.
Related report: “Hong Kong HashKey Group announces completion of nearly $100 million Series A financing.”
