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HashKey Group ("HashKey" or "the Group"), a leading end-to-end digital asset financial services group in Asia, announces the upcoming listing of its platform token, HSK, in Q3 2024. Upholding the principle of "HSK for ALL", the token will be utilised across all core applications and use cases within the HashKey ecosystem and will continuously expand external community building to create a comprehensive Web3 economic network. Before the token listing, HSK will initiate a community airdrop to reward ecosystem contributors.
Tokenomics
HSK is a token based on the ERC-20 standard, with a total supply of 1 billion units. Of this supply, 65% will be allocated for ecosystem growth, 30% to the team, and 5% to a reserve fund.
Burning Mechanism
HSK implements an offsetting issuance mechanism (burning) to protect HSK holders from the dilutionary impact of rewards-based increases in HSK circulating supply. HashKey will have the discretion to purchase an amount of HSK up to 20% of net profits generated from specified HashKey businesses and then permanently burn the purchased HSK from HSK's supply.
HSK's Utility
HashKey Group has a comprehensive Web3 ecosystem, encompassing various verticals such as Infrastructure, Middleware, AI, DeFi, and Metaverse. As HashKey's platform token, HSK will be used in a wide range of scenarios, including community rewards, exclusive token pre-sales, cross-platform ecosystem collaborations, and transaction fee discounts and business growth activities on HashKey Exchange*, Hong Kong's largest licensed virtual asset exchange, and HashKey Global, the global flagship digital asset exchange. Furthermore, HSK will incentivise ecosystem contributors to HashKey's L2 "Ecosystem Chain", HashKey Chain, providing robust support and driving force for on-chain users and assets.
HSK is scheduled to launch a community airdrop through HashKey's core businesses in late June, encouraging users to contribute to community building.
HSK official X:https://x.com/hashkeyhsk
About HashKey Group
Established in 2018, HashKey Group is a leading end-to-end digital asset financial services group in Asia. Operating within regulatory frameworks that uphold the highest compliance standards, HashKey Group offers diverse investment opportunities and tailored solutions across the digital asset ecosystem and Web3 landscape for retail investors, large institutions, family offices, funds, professional and accredited investors. Headquartered in Hong Kong, HashKey Group also has operations in Singapore, Japan, and Bermuda.
Our core businesses include HashKey Exchange, a licensed virtual asset exchange regulated by the Hong Kong SFC; HashKey Capital, a global asset manager investing exclusively in blockchain technology and digital assets; HashKey Cloud, a leading provider of global Web3 infrastructure; HashKey Global, a global digital asset exchange that obtained Class "F" license under the Digital Asset Business Act 2018 (DABA); HashKey Tokenisation, a tokenisation services provider, among others. To learn more about HashKey Group.
For media enquiries and more information, please contact:
HashKey Group
Athena Yuan: athena.yuan@hashkey.com
Note: As of May 29, 2024, HashKey Exchange has achieved a total trading volume of $56 billion since its operation. HashKey Exchange ranks steadily in the Top 10 cryptocurrency exchanges on CoinGecko, the highest-ranked licensed virtual asset exchange in Hong Kong. These rankings are based on the comprehensive methodology by the third-party platform CoinGecko.
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's control. HashKey Global and its affiliates make no warranties, express or implied, in relation to HSK or any rewards and disclaims any liability relating thereto.
Disclaimer: In compliance with local regulations, HashKey Global does not offer services to individuals in the United States, mainland China, Hong Kong, and certain restricted countries or regions. This material is for informational purposes only and is not intended to be distributed or relied upon by individuals in Hong Kong. This material does not constitute an offer to buy or sell any financial products, nor should it be considered as investment advice. Investing in digital assets involves risks. Investors should not make investment decisions based solely on this press release, but should carefully evaluate their suitability to participate in any investment products based on their own investment experience, investment objectives, financial situation, and other relevant conditions.