HSK Spot Trading Set to Launch Across Multiple Exchanges on 26 November 2024

HSK is the “Ecosystem Token” of HashKey Group, with extensive use cases across the HashKey ecosystem, including trading fee discounts, exclusive token pre-purchase rights, and node validation rewards. As the native and gas token of HashKey’s Layer 2 blockchain, HashKey Chain, HSK holders will also have governance and decision-making rights within the HashKey Chain network.

The total supply of HSK is capped at 1 billion tokens, with 65% allocated to support long-term ecosystem growth, 30% distributed to the team, and 5% reserved as a fund. During the Token Generation Event (TGE), the initial circulating supply is set at 11%, totaling 110,000,000 tokens. The remaining tokens in the ecosystem pool will be released linearly over 48 months post-TGE.

Kay, the CEO of HashKey Eco Labs, stated: “Through HSK, we aim to incentivize users to co-build the HashKey ecosystem and share the long-term value of its growth with the community. Therefore, the distribution of HSK primarily focuses on active participants. Of the 11% TGE circulating supply, 9% is directly allocated to early participants who engage in compliant exchange trading and growth activities. These users earned points through activities, which will be converted into HSK upon its listing. The remaining 2% is designated for liquidity support and activity-related expenses.”

The remaining tokens in the ecosystem pool post-TGE will be strategically and transparently distributed to community supporters and contributors. This distribution will occur through various mechanisms, including airdrop incentives, HashKey Chain grants (hsk.xyz), liquidity rewards, and integration into diverse HashKey ecosystem applications. This approach is designed to foster long-term, sustainable growth of the ecosystem while maintaining full transparency. By allocating tokens this way, HashKey aims to incentivize ongoing community engagement, support innovative projects, and ensure the ecosystem’s continued expansion and development over time.

Kay further added: “The HashKey Chain mainnet will launch in December. This compliance-friendly and innovation-encouraging blockchain will integrate HashKey’s existing businesses into a large-scale collaborative network. It will focus on sectors like BTCFi, PayFi, and stablecoins, providing solutions that bridge traditional and crypto financial markets with full-stack Web3 services. HSK will serve as the core driving force behind the HashKey Chain ecosystem.”

RISK WARNING ABOUT HSK: Please be aware that HSK is not currently listed on any exchange and there is no guarantee that it will be listed in the future. As a result, HSK presently has no established market value. The timeline for the potential listing of HSK remains uncertain. In the event that HSK is successfully listed, it may be subject to various trading restrictions in accordance with applicable regulations and laws. These restrictions may include but are not limited to, limiting the trading of HSK solely to eligible professional investors in select locations and subject to regulatory approval. The value of HSK is subject to substantial risk and may diminish or fluctuate significantly in response to various market conditions and other factors beyond HashKey Global’s control. HashKey Global and its affiliates make no warranties, express or implied, in relation to HSK or any rewards and disclaim any liability relating thereto.

Disclaimer: This is a paid post and should not be treated as news/advice.