By
staff writer
June 12th, 2024
HashKey also announced an airdrop event in late June that aims to reward those who have contributed to the firm’s ecosystem.
HashKey Group, a firm providing a number of services related to digital assets, has confirmed plans to list its token dubbed HSK in the third quarter of this year, capturing the attention of crypto enthusiasts.
As per a post on social media platform X, HashKey Group outlined the tokenomics of the token, confirming that HSK is the HashKey platform token and is “based on the ERC-20 standard, with a total supply of 1 billion units”, adding that of the total supply, “65% will be allocated for ecosystem growth, 30% to the team, and 5% to a reserve fund”.
While discussing the benefits of the cryptocurrency, HashKey said that the token will provide holders with a “world of possibilities”. The holders will have the chance to receive community rewards, access exclusive token pre-sales, collaborate across the platforms owned by HashKey, and also be eligible for transaction fee discounts on HashKey Exchange and HashKey Global.
Additionally, HSK is also a major part of the firm’s Layer 2 “Ecosystem Chain”, which has been termed the HashKey Chain while supporting on-chain users and assets. The token will play a crucial role in the governance of the HashKey chain and will serve as the currency for gas fee payments and other incentives.
As per an X post, HashKey said that “the utilities of HSK provide robust support and drive the growth of on-chain users and assets within the HashKey Chain ecosystem,” while adding:
“HSK is designed to seamlessly integrate with external ecosystems, facilitating synergy between internal and external collaborations. Immerse yourself in HashKey Group’s comprehensive Web3 ecosystem, including Infrastructure, Middleware, AI, DeFi, Gamefi and Metaverse!”
HashKey has also included a burning mechanism for its token, which would “protect HSK holders from dilution” and also regulate the supply and price of the cryptocurrency. Over 20% of the net profits generated from the firm’s various projects and businesses will be used to purchase HSK that would otherwise be burned.
Airdrop in Late June
HashKey also announced an airdrop event in late June that aims to reward those who have contributed to the firm’s ecosystem. Recently, the firm also debuted the global futures feature and asked users to try the beta version.
Interestingly, the firm asked for feedback on its new feature and said that 20 accepted suggestions will be rewarded with 50 HSK each, and 100 HSK for each API issue report. The token hasn’t been listed; as a result, the value of these tokens remains uncertain once the event takes place.
It is important to note that HashKey has a significant presence in the digital asset space and recently debuted the AGI Open Network (AON), a project that aims to boost the development of artificial intelligence (AI) applications in the Web3 space. The firm provides a complete ecosystem across the entire digital asset landscape, ranging from capital, to custody, to technologies, trading, and exchange.