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Having been operating in Asia specifically in Bitcoin financial services, HashKey Group announced the third quarter of this year for the official release of its platform token, HSK; however, it has a community airdrop planned for this month. Stating that it has been designed to advance community engagement and ecosystem growth, the corporate said in an announcement that the token might be integrated throughout all products and utility applications.
HSK Token to Be Integrated Across HashKey’s Ecosystem
“HSK is scheduled to launch a community airdrop under HashKey’s core businesses in late June, encouraging users to help to build communities,” the firm said. Designed with reference to the ERC-20 criteria, the HSK token has one billion thousand units in total. Especially on its Layer 2 solution, HashKey Chain, HashKey aims to employ HSK to reward ecosystem participants, thereby enabling and motivating on-chain user and asset activity.
Token Allocation and Burning Mechanism Explained
With around 65% set for ecosystem development, 30% for personnel, and 5% set in a fund, HashKey broke out the distribution of the HSK token. The corporation also announced plans of a token burning system in which the corporation would be authorized to purchase up to 20% of the net income generated by corporate partners and extinguish the HSK thus purchased from the circulating supply. This is a strategy that is employed with the intention of managing the issuance of the token and may help perhaps enhance the worth of the token in the future.
HashKey’s Expansion and Recent Financial Milestones
Core activities of HashKey Group consist of HashKey Capital, HashKey Cloud, HashKey Tokenisation, and HashKey NFT. The company also runs HashKey Global, a worldwide exchange started in April, and HashKey Exchange, a licenced crypto exchange in Hong Kong. These few activities show HashKey’s dedication to create a whole ecosystem for cryptocurrencies.
Announcing a major financial milestone in January, HashKey Group raised around $100 million in Series A funding at a pre-money value of over $1.2 billion. This money is meant to support HashKey’s attempts at growth and improve its service range.
The HSK token listing in the near future along with the HSK token airdrop related to this community mark HashKey’s intentional move to bring its audience and expand its circle. The firm is prepared to be able to incorporate HSK into its line up of products when it is ready for launch; thus making the users group more connected and motivated.
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