Hong Kong digital asset group HashKey Group announced on Tuesday (18th) that it will list its platform currency HSK in the third quarter of 2024. Before listing the currency, the company expects to launch a community airdrop through HashKey’s core business in late June to encourage users Participate in co-construction.

HashKey stated in an official statement that HSK tokens will be used in all HashKey ecological core application scenarios, including in-ecological community rewards, exclusive token priority purchases, cross-platform ecological cooperation, and the group's Hong Kong licensed virtual asset transactions. A wide range of scenarios including fee deduction and business growth activities for HashKey Exchange and international exchange HashKey Global.

HashKey added that HSK will also be used to incentivize ecological contributors of the L2 "ecological chain" HashKey Chain to provide support and impetus for users and assets on the HashKey Chain chain.

According to official information, HSK is a token based on the ERC-20 standard with a total supply of 1 billion, of which 65% is used for ecological construction, 30% is allocated to the team, and 5% will be used as a reserve fund. HSK will have a destruction mechanism to prevent holders’ rights and interests from being diluted due to the increase in rewarded HSK circulation. HashKey will withdraw up to 20% of the profits from specific businesses to repurchase HSK, and the repurchased portion will be destroyed.

Related reports: "Hong Kong HashKey Group announces completion of nearly US$100 million in Series A financing"

This article HashKey will list the platform currency HSK in the third quarter and plans to conduct a community airdrop this month. First appeared on Zombit.