HashKey to Launch Exchange Token Airdrop

The parent company of the licensed Hong Kong-based cryptocurrency exchange HashKey will conduct an airdrop of its native ERC-20 token, HSK, in June, with a subsequent listing in the third quarter.

? HSK FOR ALL, ALL READY FOR Q3 ?

? Read More:https://t.co/Anc0q3aLfX https://t.co/GZ866W3vrw

— HashKey Group (@HashKeyGroup) June 18, 2024

The asset will be utilized across all products and applications of the group.

“HSK will incentivize participants in the HashKey Chain ecosystem,” the statement said.

The total supply of HSK will be 1 billion.

It will be distributed as follows:

• 65% — for ecosystem development;
• 30% — to the team;
• 5% — to the reserve fund.

The company plans to repurchase native tokens for subsequent burning at its discretion. Up to 20% of net profits from certain group businesses will be allocated for this purpose.

HashKey Group’s main activities include HashKey Capital, HashKey Cloud, HashKey Tokenization, and HashKey NFT.

The group also operates HashKey Exchange, a licensed cryptocurrency exchange in Hong Kong, and HashKey Global — launched in April as a global trading platform.

This was made possible after obtaining a license in Bermuda. Previously, regulators in Japan and Singapore had approved the company’s operations.

The platform offered qualified retail investors trading pairs for 21 cryptocurrencies. Futures on digital assets are planned to launch “in the near future.”

Access is restricted for users from mainland China, Hong Kong, the US, and several other jurisdictions.

In April, HashKey announced the launch of an Ethereum L2 network based on ZK-Rollups called HashKey Chain. 

At that time, the company stated that users would receive low-cost, efficient, and developer-friendly network services. The testnet launch is expected within the next six months, with a transition to the mainnet within a year.

Back in April, TON Foundation and HashKey formed a partnership to facilitate access to fiat for Telegram Wallet users in the Asia-Pacific region.