HashKey announces Community Airdrop and plans to list Native Token in Q3 2024
HashKey Global, the Asia-based digital asset exchange under HashKey Group, announced today it would list its native token, HSK, in the third quarter of 2024, with a community airdrop expected to begin later in June.
🚀 Get ready for the upcoming HSK listing?
— HashKey HSK (@hashkeyhsk) June 18, 2024
WEN? 📅Mark your calendars for Q3 2024! pic.twitter.com/lQEt1vmSO9
The objective of this listing is to improve the ecosystem of the company by providing its users with additional benefits and services. With the introduction of HSK, the HashKey ecosystem will be able to offer users a variety of opportunities in a synergistic environment. The flexible design of the token facilitates a wide range of applications and services, including DeFi, GameFi, AI, and the metaverse. Before listing the token, HashKey announced that it would launch a community airdrop through HashKey's core businesses later this month.
According to HashKey, the community airdrop will encourage users to contribute to community building. HSK opens up a wide range of opportunities, with users getting community rewards, access to special token pre-sales, transaction fee discounts on HashKey Exchange and HashKey Global, and collaboration across platforms.
HSK is the firm native token based on the ERC-20 standard, with 1 billion units as the total supply. A reserve fund will receive 5% of this supply, the team will get 30%, and 65% will be allocated for ecosystem growth.
The company further stated that HSK powers HashKey's Layer 2 "Ecosystem Chain," or HashKey Chain, which supports assets and users on the chain. For HashKey Chain, the native token will be used as the on-chain governance token, incentives, and payment for gas fees. The HashKey Chain ecosystem is driven by the HSK utilities, which offer strong support and encourage the expansion of on-chain assets and users.
“Burning is an offsetting issuance mechanism that we've put in place to shield HSK holders from dilution. Up to 20% of the net profits from specific HashKey businesses will be used to buy HSK tokens and burn them forever, the company added.”
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