HashKey Group has unveiled plans to airdrop its HSK token, which is scheduled for listing on the platform in Q3 2024. The Asia-based crypto services company aims to enhance the utility and adoption within the HashKey ecosystem through this airdrop.

The Hong Kong-based company plans to airdrop the token to reward ecosystem contributors. Although specific details are yet to be disclosed, the distribution is set to start in late June.

HashKey first announced plans for its own utility token in November 2023, stating that the token’s economic model will be closely tied to the long-term interests of ecosystem contributors.

The HashKey EcoPoints (HSK) is an ERC-20 token built on the Ethereum blockchain. It is designed to serve as an incentive for ecosystem contributors, offering fee discounts and specific rights for asset issuance, as well as early access to future new token subscriptions.

The HSK whitepaper outlines a total supply of 1 billion tokens. Of this, 65% is allocated for marketing and business development, 30% for the HashKey team, and 5% reserved for additional ecosystem user protection. The exchange will also burn HSK tokens, using 20% of the firm’s net profits to protect HSK holders from the dilutionary impact of rewards-based increases in HSK circulating supply.

Stay informed on the latest developments in the cryptocurrency world by exploring more news on Global Crypto News.

Post Views: 3