HashKey Platform Token $HSK Initial Listing is Here!

HSK Deposits (ERC20): 7:00 UTC, Nov 7👉 HSK/USDT Spot Trading: 10:00 UTC, Nov 26👉 HSK Withdrawals (ERC20): 10:00 UTC, Nov 27It’s time to unlock the power of $HSK!…

Crypto exchange HashKey announced the listing of its native token, HSK, on Nov. 7.

The token will be available for deposits on the day of listing, and spot trading for the HSK/USDT pair will open on Nov. 26.

Deposits for HSK will be open on Nov. 7 at 07:00 UTC, while spot trading for the HSK/USDT(USDT) pair will begin on Nov. 26 at 10:00 UTC.

The opening of HSK withdrawals will proceed on the next day, Nov. 27 at 10:00 UTC.

HSK will be used for all HashKey businesses, including coverage of global licensed exchanges, investment, asset management, tokenization, infrastructure services and more.

The token will also be used as the platform’s official native token and gas token for the HashKey Chain, which is the crypto exchange’s layer 2 public chain.

The token will be available on the ERC-20 network.

In the days leading up to the HSK token listing, HashKey is offering rewards in the form of 2,880,000 HSK tokens for traders to earn throughout the HSK genesis trading campaign that ends on Nov. 25 0:00 UTC.

Traders will be able to earn HSK tokens based on their seven-day average trading volume and will be eligible to claim the tokens after the campaign concludes.

The rewards will be distributed within seven working days of the campaign’s conclusion.

HSK will be listed on the HashKey Global Innovation Zone, which was launched in May to provide a platform for emerging tokens and projects.

The zone aims to offer users a wider range of trading options and support the development of the crypto ecosystem.

HashKey Global Managing Director Ben El-Baz said in a press release that HashKey Global will provide liquidity support and a stable trading environment for the HSK token.

Additionally, after the HSK launch, HashKey Global will continue to expand HSK’s ecosystem globally.

“HSK is not just a token, but a bridge between Asia and the global financial infrastructure,” El-Baz said in the HSK press release.

On Oct. 15, the Hong Kong-based exchange postponed the launch of its native token, due to the crypto market’s performance at the time being “relatively subdued over the past three months.”

Therefore, the firm chose to wait for better market conditions.

HashKey first announced its plans to launch a utility token back in November 2023, stating the token’s economic model would be closely tied to the long-term interests of the HashKey’s contributors.

According to an HSK whitepaper previously reviewed by crypto.news, the crypto exchanged has prepared a supply of 1 billion tokens, with 65% allocated to marketing and business development and 30% going to the HashKey team.

Furthermore, HashKey plans to burn HSK tokens. As much as 20% of its net profits will be used to mitigate the dilutionary effects of reward-based increases in circulating supply.