The HSK token will be utilized across all core applications and use cases within the HashKey ecosystem and will continuously expand external community building to create a comprehensive Web3 economic network. The HSK token will be airdropped to the HashKey community before listing, and token holders will unlock various benefits and utilities.

The HSK token is an ERC-20 token with a massive supply of one billion units. Of this supply, 65% will be allocated for ecosystem growth, 30% to the team, and 5% to a reserve fund. HashKey implemented a burn mechanism where the team will purchase about 20% of profits in HSK made from different HashKey group businesses and burn them, leading to a lower supply. The HSK token will also earn many use cases, including community rewards, token pre-sales, transaction fee discounts, cross-platform ecosystem collaborations, and business activities associated with the exchange.

HashKey Group emphasized that HSK is scheduled to launch a community Airdrop through HashKey’s core businesses in late June, encouraging users to contribute to community building. The statement notes that the firm will strictly adhere to the principle of HSK for ALL; hence, the token will gain applications and use cases within the entire HashKey ecosystem and enable a comprehensive Web3 economic network.

The company also noted that HSK will incentivize ecosystem contributors to the HashKey Chain, HashKey’s L2’ Ecosystem Chain’, providing robust support and driving force for users and assets on-chain. These recent developments are only expected to bolster the growth of HashKey Global even further. Recently, HashKey Global reported massive surges in trading volume, exceeding $348 million.

HSK is designed on the Ethereum ERC-20 standard, ensuring compatibility and ease of integration with various applications. The total supply of HSK is capped at one billion units. Of these, 65% is earmarked for ecosystem growth, 30% for staff allocation, and 5% reserved for future needs. HashKey will initiate a community airdrop of HSK in June 2024. This airdrop aims to reward early adopters and contributors to the HashKey community, giving them a stake in the platform's future growth.

The airdrop is a strategic step to build momentum and engage users before the official listing. HSK is not just another cryptocurrency token; it is a versatile asset designed to offer various utilities within the HashKey ecosystem. Token holders will enjoy transaction fee discounts on the HashKey Exchange, access to exclusive token pre-sales, and participation in on-chain governance. Moreover, HSK will serve as the gas fee payment, incentive, and governance token for HashKey Chain, the company's Layer-2 ecosystem chain.