- HashKey Group announces HSK token launch set for Q3, 2024.
- A community airdrop is scheduled for late June to incentivize community building.
HashKey Group has announced that its token HSK will launch in the third quarter of 2024.
The company stated in an announcement that this token will power all HashKey core applications and use cases. HSK will also play a key role in the community’s growth as the network gains traction within the Web3 economy.
HSK utility
HashKey Group plans an airdrop to reward ecosystem contributors ahead of the token listing in Q3, 2024. The tokenomics of the new ERC-20 standard token include a total supply of 1 billion HSK. 65% is earmarked for ecosystem growth, 30% for the team and 5% will go to a reserve fund.
Per today’s announcement, key HSK utilities include use in community rewards, access to exclusive presales, platform collaborations and fee discounts for users on the company’s HashKey Exchange and HashKey Global.
HSK will also power HashKey’s Layer 2 ecosystem, serving as the native governance, incentives and gas fee token.
It’s notable that HashKey Group boasts a robust Web3 ecosystem that supports infrastructure, artificial intelligence (AI) projects, middleware, DeFi, and Metaverse.
The company’s Launchpool went live in May this year.
Airdrop and token burn
Ahead of token listing, HashKey will launch a community airdrop. The company expects the initiative to go live in late June, and will be used to encourage users to contribute to community building.
A token burn mechanism will see HashKey use up to 20% of the company’s net profits to buy HSK. The program will result in the permanent removal of the HSK tokens from circulation.
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