The post HSK Spot Trading Set to Launch Across Multiple Exchanges on 26 November 2024 appeared on BitcoinEthereumNews.com.

contributor Posted: November 26, 2024 HSK is the “Ecosystem Token” of HashKey Group, with extensive use cases across the HashKey ecosystem, including trading fee discounts, exclusive token pre-purchase rights, and node validation rewards. As the native and gas token of HashKey’s Layer 2 blockchain, HashKey Chain, HSK holders will also have governance and decision-making rights within the HashKey Chain network. The total supply of HSK is capped at 1 billion tokens, with 65% allocated to support long-term ecosystem growth, 30% distributed to the team, and 5% reserved as a fund. During the Token Generation Event (TGE), the initial circulating supply is set at 11%, totaling 110,000,000 tokens. The remaining tokens in the ecosystem pool will be released linearly over 48 months post-TGE. Kay, the CEO of HashKey Eco Labs, stated: “Through HSK, we aim to incentivize users to co-build the HashKey ecosystem and share the long-term value of its growth with the community. Therefore, the distribution of HSK primarily focuses on active participants. Of the 11% TGE circulating supply, 9% is directly allocated to early participants who engage in compliant exchange trading and growth activities. These users earned points through activities, which will be converted into HSK upon its listing. The remaining 2% is designated for liquidity support and activity-related expenses.” The remaining tokens in the ecosystem pool post-TGE will be strategically and transparently distributed to community supporters and contributors. This distribution will occur through various mechanisms, including airdrop incentives, HashKey Chain grants (hsk.xyz), liquidity rewards, and integration into diverse HashKey ecosystem applications. This approach is designed to foster long-term, sustainable growth of the ecosystem while maintaining full transparency. By allocating tokens this way, HashKey aims to incentivize ongoing community engagement, support innovative projects, and ensure the ecosystem’s continued expansion and development over time. Kay further added: “The HashKey Chain…

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Filed under: News - @ November 26, 2024 1:25 pm