Key Points
- HashKey Group announced plans to list the HSK token in Q3 2024.
- The total supply of HSK is set to 1 billion tokens.
According to a recent announcement shared via X, HashKey Group revealed that the HSK token listing is set for Q3 2024.
According to the official website of the project, HSK is the HashKey platform token based on the ERC-20 standard protocol that incentivizes contributors across HashKey’s ecosystem, fueling the growth of the entire ecosystem.
HSK tokenomics
- The HSK total supply is set to 1 billion tokens.
- 650 million tokens (65% of the total supply) will be allocated for ecosystem growth.
- 300 million tokens (30% of the total supply) will be allocated to the team.
- 5 million tokens (5% of the total supply) will go to a reserve fund.
Benefits of HSK
According to the same announcement, the benefits of the HSK tokens include the following:
- earning community rewards
- accessing exclusive token pre-sales
- collaborating across platforms
- enjoying transaction fee discounts on HashKey Exchange and HashKey Global
HSK also fuels HashKey’s layer 2 Ecosystem Chain known as HashKey Chain, supporting on-chain users and assets.
HSK will serve as the gas fee payment, incentives, and on-chain governance token for HashKey Chain.
The utilities of HSK offer strong support and drive the growth of on-chain users and assets within the HashKey Chain ecosystem.
HSK will integrate with external ecosystems, facilitating synergy between internal and external collaborations. The HashKey Group’s Web3 ecosystem includes infrastructure, middleware, AI, DeFi, GameFi and metaverse.
HSK burns
The team at HashKey also announced that they have implemented an offsetting issuance mechanism (burning) in order to protect HSK holders from dilution.
They will reportedly use up to 20% of net profits from specified HashKey businesses to purchase and permanently burn HSK tokens.
HSK airdrop
Before the token listing, the team will launch a community airdrop in late June to reward the ecosystem contributors.
Established in 2018, HashKey Group is a leading end-to-end digital asset financial services group in Asia that upholds the principle of “compliance first”, according to the project’s official website notes.
