HashKey Global, the digital asset exchange under HashKey Group, revealed on June 18 that it would list its native token, HSK, in the third quarter of 2024.
This listing aims to enhance the company’s ecosystem by offering new incentives and utilities for its users.
HSK Token to Boost HashKey Ecosystem with Diverse Applications
HSK’s introduction aims to create a synergistic environment where users can benefit from diverse opportunities within the HashKey ecosystem. From DeFi and GameFi to AI and the metaverse, the token’s versatile design supports various applications and services.
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Based on Ethereum’s ERC-20 standard token, HSK will be integral to HashKey’s Layer 2 Ecosystem Chain, known as HashKey Chain. HSK will offer several benefits to its holders. These include community rewards, access to exclusive token pre-sales, transaction fee discounts on HashKey Exchange, and participation in on-chain governance.
HSK’s utilities extend beyond transaction fee discounts. As the gas fee payment, incentive, and governance token for HashKey Chain, HSK will also fuel on-chain activities and support the ecosystem’s growth. Additionally, HSK will integrate with external platforms, enhancing interoperability and collaboration within the broader blockchain community.
HSK’s tokenomics are structured to support ecosystem growth, with 65% allocated for this purpose, 30% for the team, and 5% reserved for future needs. The upcoming airdrop in late June will reward ecosystem contributors, giving them a stake in the platform’s future growth.
HSK Tokenomics. Source: HashKey Global
HashKey Global has outlined a comprehensive roadmap for HSK. The roadmap begins with tokenomics updates and minting in November 2023. Subsequent phases will introduce incentive programs and prepare for the token’s release.
Furthermore, by Q2 and Q3 of 2024, HashKey will finalize legal, compliance, and market preparations. These efforts will culminate in the token’s official listing and an airdrop to early contributors.
“To mitigate the impact of increased circulating supply on HSK holders, HashKey will selectively allocate 20% of its net profits from HSK-related businesses for HSK repurchase, followed by the subsequent burning of the repurchased HSK tokens,” the HashKey Global team added.
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HashKey Global’s strategic move to list HSK reflects its commitment to fostering innovation and user engagement in the digital assets industry. With clear tokenomics, a well-defined roadmap, and clear utility, HSK is poised to become a pivotal element in HashKey’s expansive ecosystem.