Hong Kong-based Exchange Hashkey Creates Its Own Token and Will Airdrop – DiarioBitcoin
By Hannah Perez
Hashkey, a financial services firm with a presence in Asia, will launch its own platform token this June before incorporating it into its trading platform.
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- Hashkey announced the launch of its platform token: HSK
- The exchange is regulated in Hong Kong and also has an international platform
- Will airdrop or free token distribution this June
HashkeyHong Kong’s largest cryptocurrency exchange, is set to launch its own cryptocurrency.
The Asia-based financial services group announced this Tuesday in a statement that it plans to include its own trading platform in its token native, baptized HSK, for the third quarter of 2024.
Built on the blockchain Ethereum, HSK will be a token based on ERC-20 standardwith a total supply of one billion units, the company indicated in a series of publications on x. Of this offering, 65% will go to growing the ecosystem, 30% to the team, and 5% to a reserve fund, the team added.
As token platform, HSK will have various functions and users will be able to use it for various products and services of Hashkey. For example, to earn community rewards, access exclusive token pre-sales, collaborations, and transaction fee discounts for moving assets between HashKey Exchange and HashKeyGlobal.
The exchange will also integrate HSK into various Web3 sectors such as DeFi and metaverse, as indicated.
To avoid token dilution, Hashkey claims that it will introduce a designed burning mechanism, committing up to 20% of net profits to purchase and burn HSK tokens. It is worth noting that the term burning refers to the elimination of tokens, which effectively reduces their circulating supply, promoting a healthy supply dynamic.
As part of the initiative, Hashkey will carry out an airdrop through which it will distribute the token among users. Distribution is planned to take place at the end of the month, the team announced.
Prior to listing, we will launch a massive community airdrop at the end of June to reward contributors to our ecosystem. Join us now and unlock amazing rewards!
“HSK will incentivize ecosystem contributors to HashKey’s L2 ‘Ecosystem Chain’, HashKey Chainproviding solid support and driving force for users and assets on the chain“added the company in a cited statement.
Hashkey and its expansion efforts
Hashkey operates a regulated cryptocurrency exchange in Hong Kong,HashKey Exchangeas well as it also has Global HashKey, a platform for trading digital currencies available to international users. The company launched its offshore exchange licensed in Bermuda in April this year.
The company’s latest news comes after January will announce a fundraising of USD $100 million in a Series A financing round, reaching a valuation of more than $1.2 billion. The company is now planning its next funding round later this year. With expansion plans in the Middle East and Europe, Hashkey is positioning itself to become a major globally licensed cryptocurrency exchange.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
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