With the rapid development of blockchain technology, the intrinsic value of digital assets is gradually recognized, and 2022 has witnessed significant progress in the compliance and regulatory environment of blockchain and digital assets. Against this background, HashKey Group, as an industry-leading digital asset and blockchain service provider, is committed to leading the future of the industry through a compliant digital asset platform. HashKey’s vision is to integrate Web3 and the real economy to create a more efficient, transparent and inclusive financial system.
HashKey's platform coin HSK is scheduled to be officially launched for trading in the third quarter of 2024, and a community airdrop will be launched before the launch to reward ecosystem participants. As a token based on the ERC-20 standard, HSK has a total supply of 1 billion, 65% of which are used for ecological construction, 30% are allocated to the team, and 5% are used as a reserve fund. In order to avoid the dilution of holders' rights and interests by increasing the circulation of HSK through rewards, HSK has designed a destruction mechanism to use up to 20% of the profits of specific businesses to repurchase and destroy part of HSK. In addition, HSK will also be used in scenarios such as community rewards, priority purchase of exclusive tokens, cross-platform cooperation, and deduction of handling fees for HashKey Exchange and HashKey Global.
It is worth noting that HashKey Global has obtained approval from regulators and officially launched the contract trading function, which initially supports BTC and ETH contract trading with a maximum leverage of 10 times. The platform will also launch a limited-time "Contract Trading Mining and Invitation 100% Rebate" event, where participants can receive HSK rewards. This move not only enriches users' trading options, but also further enhances the application value of HSK.
Through these efforts, HashKey Group is promoting the widespread application of blockchain technology and constantly exploring new paths for the integration of Web3 and the real economy. Next, we will delve into the specific application scenarios of HSK and its impact on the entire ecosystem.
From the Genesis VIP Program to obtaining a retail investor management license, HashKey Group has been making steady progress
In early 2024, HashKey Exchange launched the Genesis VIP Program, which aims to reward early participants. The program provides VIP users with the platform coin HSK at a unit price of $0.4. Although the market has mixed reactions to this program, the event has ended. Since the HSK platform coin will be launched in the second quarter, HashKey's current registration threshold is still high, and users need to register in advance and wait for the official new event.
HashKey Exchange, an exchange under the HashKey Group, has become the first upgraded trading platform in Hong Kong to obtain licenses No. 1 (Securities Trading) and No. 7 (Providing Automated Trading Services). This means that HashKey Exchange can now provide services to retail users, expanding its business scope and no longer being limited to professional investors. In addition, HashKey has also launched a cryptocurrency over-the-counter (OTC) service HashKey Brokerage, which is similar to a traditional securities dealer and will comply with Hong Kong's securities laws in the future.
HashKey Group was founded in 2018 and is headquartered in Hong Kong, with operations in Singapore and Japan. As a full-service crypto asset management and business group, HashKey's core businesses include licensed crypto asset exchanges, full-service brokerage platforms, institutional-grade custody services, and venture capital funds for global blockchain companies and crypto asset projects. The group's goal is to develop regulated platforms and public infrastructure, promote the application of blockchain technology in the existing financial system, and bring Web3 into daily life.
In May 2024, HashKey Capital became the first company to provide crypto asset management and advisory services to retail investors, obtaining a Type 4 license from the Hong Kong Securities and Futures Commission. This license enables HashKey Capital to provide advisory services on securities and virtual assets to retail investors, marking an important step for the company in providing comprehensive financial services to retail and professional investors.
In addition, HashKey Group completed a nearly $100 million Series A financing in January 2024, with a pre-investment valuation of more than $1.2 billion. This round of financing will be used to deepen the group's full ecological layout in the virtual asset industry, accelerate the diversification of Hong Kong licensed business products, and promote compliance innovation development worldwide.
With its extensive business layout and continuous innovation efforts, HashKey Group plays an important role in promoting the development and application of the blockchain industry, providing support to institutions, founders and talents, and shaping a new economic landscape.
Understand the economic system of HSK tokens and the Web3 ecological route of HSK Group
HashKey Group's upcoming HSK token is an ERC-20 standard token based on Ethereum with a total supply of 1 billion. HSK is designed to incentivize and support the development of the entire HashKey ecosystem through a variety of practical application scenarios.
Token distribution and mechanism:
The distribution model of HSK tokens is very clear. 65% of the tokens will be used for ecological construction, including rewards for early users, promotion of transactions and liquidity, and rewards for other contributors. 30% of the tokens are allocated to the team as employee incentives to encourage team members to make greater contributions to the development of the company. The remaining 5% will be used as a reserve fund to protect the interests of ecosystem users in emergencies.
In order to avoid dilution of holders’ rights due to increasing the circulation of HSK through rewards, HashKey adopts a destruction mechanism. HashKey will extract up to 20% of the net profit of a specific business to repurchase and destroy part of HSK, thereby maintaining the scarcity and value of the token.
Application scenarios:
HSK tokens will have a wide range of applications within the HashKey ecosystem. For example, users can use HSK tokens to pay transaction fees and enjoy discounts, and withdrawal fees for specific digital assets can also be reduced using HSK. In addition, HSK holders will have the right to purchase new tokens first and be informed of new products and product upgrades in advance.
HSK will also be used for community rewards, motivating ecosystem contributors of the L2 ecosystem HashKey Chain, and providing support for users and assets on the chain. Through these practical applications, HSK not only enhances user stickiness to the platform, but also further promotes the healthy development of the HashKey ecosystem.
Future Outlook:
HashKey Group’s goal is to create a more efficient, transparent and inclusive digital asset ecosystem through the HSK token. As HSK is gradually implemented and promoted in various application scenarios, its role as the core of the HashKey ecosystem will become increasingly significant.
In summary, HSK tokens are not only an important part of the HashKey ecosystem, but also a key factor in promoting the development of the entire blockchain industry. Through innovative distribution mechanisms and diversified application scenarios, HSK is expected to become an important force in the digital asset field in the future.
With its own advantages and external risks coexisting, where is the future of HashKey?
As an important part of the HashKey Group ecosystem, HashKey Token (HSK) not only enhances user engagement and platform vitality through innovative distribution mechanisms and diversified application scenarios, but also provides new impetus for the development of the entire blockchain industry.
Recently, HashKey Global announced the official launch of futures trading on the X platform, and further expanded the influence of HSK through three activities to attract user participation. These activities include "Earn Profits from Futures Trading", "Futures API Trading Activities" and "100% Fee Refund Recommendation Activities", which are aimed at encouraging users to participate in futures trading and obtain HSK rewards.
First, the "Earn Profits from Futures Trading" activity allows users to earn rewards by trading futures. For every 1,000 USDT traded, users can earn 0.3 HSK, and there is a certain daily limit, first come first served. Secondly, the "Futures API Trading Activity" encourages users to show their trading skills and win up to 300,000 HSK rewards per week. Finally, the "100% Fee Refund Referral Activity" further expands the platform's user base by allowing users to invite friends to participate in futures trading and receive HSK rewards.
This series of activities not only increased HSK's market awareness, but also provided users with a rich incentive mechanism. However, with the gradual promotion and application of HSK in the HashKey ecosystem, its future development still faces many uncertainties. Can HSK maintain its unique value in the highly competitive digital asset market? Can the HashKey Group continue to innovate and meet the changing needs of users?
In this ever-changing market environment, the only thing that is certain is change itself. Whether HSK can truly become an important force in the field of digital assets remains to be tested by time. But in any case, HashKey Group has laid a solid foundation for the future of HSK through its innovative strategic layout and diversified application scenarios. So, will HSK be the next leader in digital assets? Let us wait and see.