In a new development, eliciting wild-spread jubilations in the crypto space, Asian-based digital assets financial service platform Hashkey has disclosed the official dates for listing its local token, HSK and airdrop distribution arrangements.
Notably, a blog publication on the exchange's official website broke the news. According to the press release, the token will be listed in the third quarter of the year, approximately a few months from the time of writing.
Airdrop Distribution Plans
In addition, the team promised to disburse airdrop tokens to deserving wallet holders who diligently aided the promotion of the uprising cryptocurrency asset by participating actively in most of its salient tasks. The airdrop distribution, however, was slated to take place by the end of this month.
Strategically, the airdrop disbursement aims to enhance Hashkey's key businesses, which include Hashkey NFT, Hashkey Cloud, Hashkey Tokenization, Hashkey Capital, Hashkey Global, and Hashkey Exchange. It implies that taking part in any of the businesses is part of the eligibility criteria to benefit from the airdrop.
Tokenomics
According to HSK tokenomics, one billion tokens will subserve the purpose of the airdrop distribution plan. About 65% of the released tokens would improve the ecosystem's growth, 30% would go to members of the Hashkey team, and the remaining 5% for miscellaneous outcomes.
Noteworthily, the Hashkey token is calculated using Hashkey Ecopoints based on ERC-20 (Ethereum Request for Comment number 20). For context, ERC-20 is one of the standards used in Ethereum for creating an interchangeable token environment.
Defending why it opted for an Ethereum network despite its exorbitant charges, Hashkey claimed that some of the reasons for basing on the ERC-20 standards are to enable the reward of its ecosystem contributors by offering fee discounts for asset insurance, granting early access to the soon-to-list token, burning a substantial amount of its tokens, and other mind-blowing benefits.
Finally, regarding negative price impacts that might emanate from excess coin circulation following the airdrops, the trading platform assured that there are concrete plans to incinerate the tokens using 20% of the exchange's profits.
