HashKey Prioritizes Long-Term Sustainability, Postpones HSK Token Launch

In a strategic step that prioritized long-term sustainability over immediate gains, HashKey furthered the importance of timing in successful token launches.

Cryptocurrency exchange HashKey announced that it will postpone plans to launch its native HSK token this year, prioritizing long-term sustainability over immediate gains.

The company stated in a press release on Monday that the decision was made after extensive consultation with partners and other centralized exchanges, concluding that “rushed listings do not serve the community's best interests.”

Despite the postponement, the event of generating tokens looks hopefully at the trajectory of the cryptocurrency market in the second half of the year, aiming to launch by the end of this year when significant upward momentum is likely.

The company will use the time prior to the listing to enhance the infrastructure of its ecosystem and further develop the fundamental value of HSK.

First announced in November 2023, the HSK token was designed as an ERC-20 token on the Ethereum blockchain, complete with a broad utility framework.

In such a way, the project aimed to establish a token economy that would align closely with participants' interests in the ecosystem, offering benefits regarding early access to token subscriptions, reduced trading fees, and special privileges for asset issuance through the platform.

According to the tokenomics structure highlighted in the HashKey whitepaper, there is a capped total supply of one billion tokens with a clearly articulated distribution strategy.

The majority stake, 65%, is held for marketing and commercial expansion efforts, while 30% is for the HashKey team. The remaining 5% serves user security in the ecosystem.

To maintain the token value and control the supply inflation, HashKey has taken a new approach to token economics. The exchange will burn 20% of the net revenue through token burning, and this mechanism would at least balance out the increase in the circulating supply through rewards.

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