HashKey hints at unveiling date for its second layer Ethereum network
Hong Kong’s leading licensed cryptocurrency exchange operator, HashKey Group, has announced that its Ethereum layer-2 solution, known as HashKey Chain, will be launched in the fourth quarter. The specific launch date, however, has not been disclosed.
The HashKey Chain network will serve as the foundation for the HashKey EcoPoints (HSK), an ERC-20 token created by HashKey Group. These tokens will be used to incentivize ecosystem contributors by offering them fee discounts, “specific rights” for asset issuance, and early access to new token subscriptions.
According to the HSK whitepaper, a total of 1 billion tokens will be available, with 65% allocated for marketing and business development, 30% for the HashKey team, and 5% reserved for additional ecosystem user protection. HashKey also plans to burn HSK tokens by using 20% of the firm’s net profits to prevent dilution of the circulating supply.
HashKey first introduced its utility token plans in November 2023, emphasizing that the token’s economic model would closely align with the long-term interests of ecosystem contributors.
In a bid to attract retailers, HashKey has also launched a tap-to-earn bot on Telegram, showcasing the benefits of its HSK token.
