• HashKey Group has introduced that it plans to launch its HSK token in Q3 2024.
• To encourage group constructing, a group airdrop is deliberate for late June.

HashKey Group has introduced that it’ll launch its token, HSK, within the third quarter of 2024.

The corporate mentioned in an announcement that the token shall be used for all of HashKey's core purposes and use circumstances, and that HSK can even play a key function in rising the group because the community positive factors traction within the Web3 economic system.

HSK Utility

HashKey Group plans to conduct an airdrop to reward ecosystem contributors forward of the token itemizing in Q3 2024. The tokenomics of the brand new ERC-20 customary token will embody a complete provide of 1 billion HSK: 65% shall be allotted to ecosystem development, 30% to the group, and 5% to reserves.

In line with at present's announcement, key utilities of HSK embody use in group rewards, entry to unique pre-sales, platform collaboration, and charge reductions for customers of the corporate's HashKey Alternate and HashKey International.

HSK additionally powers HashKey’s Layer 2 ecosystem, appearing because the native governance, incentives and fuel charge token.

It’s value noting that HashKey Group boasts a robust Web3 ecosystem supporting infrastructure, synthetic intelligence (AI) tasks, middleware, DeFi, and Metaverse.

The corporate's Launchpool started operations in Might of this yr.

Airdrops and Token Burns

Forward of the token itemizing, HashKey will launch a group airdrop, which the corporate expects to start in late June, and shall be used to encourage customers to contribute to constructing the group.

The token burn mechanism will enable HashKey to make use of as much as 20% of the corporate's internet income to buy HSK. This program will completely take away HSK tokens from circulation.