As an analyst with over a decade of experience in the volatile world of cryptocurrencies, I find HashKey’s decision to postpone the launch of its HSK token both pragmatic and prudent. The crypto market has been on a rollercoaster ride lately, and it’s always wise to wait for more favorable conditions before making a move.
HashKey, the largest licensed cryptocurrency exchange operator in Hong Kong, has decided to delay the debut of its HSK token. This is due to their desire to wait for “more advantageous market circumstances” before proceeding with the launch.
hashKey Group, operator of a cryptocurrency exchange based in Hong Kong, has decided to delay the debut of their HSK token. They attribute this decision to the fact that the overall performance of the global cryptocurrency market has been relatively sluggish for the last three months.
On October 15th, a statement from the Hong Kong company did not provide specific details as to why there was a delay, but instead highlighted the importance of finding an optimal moment to conclude the HSK token generation event in the current economic climate.
Since haste in listing doesn’t benefit the community most, we came to an agreement with our collaborators and major trading platforms after thorough talks.
HashKey
In spite of the present economic slump, HashKey maintains a strategic focus on increasing the long-term worth of HSK. The company is dedicated to improving its infrastructure and fostering development within its ecosystem. They foresee a substantial increase in the cryptocurrency market by the end of the current year.
In November 2023, HashKey initially unveiled its plans for a utility token called HSK EcoPoints, emphasizing that the token’s economic structure would align closely with the long-term benefits of contributors within the ecosystem. This ERC-20 token is constructed on the Ethereum blockchain and serves to encourage ecosystem participants by offering reduced fees, exclusive rights for asset issuance, and priority access to future token offerings.
As per the findings outlined in the HashKey Specification (HSK) whitepaper analyzed by crypto.news, a grand total of 1 billion tokens will be minted. Out of these, approximately 65% are earmarked for marketing and business operations, while 30% is set aside for the HashKey team. Furthermore, 5% of the supply has been reserved to ensure user safety within the ecosystem. Additionally, it’s worth noting that the trading platform intends to destroy (burn) HSK tokens, by allocating 20% of its net earnings towards preventing an increase in circulating supply due to reward-based mechanisms, thereby reducing dilution effects.
Read More
Sorry. No data so far.
2024-10-16 13:06