Hong Kong-based blockchain and crypto firm, HashKey Group, has announced the launch of HashKey EcoPoints – HSK, a reward program designed to incentivize contributors to the HashKey ecosystem, including its users and partners.
HSK, with a fixed total supply of 1 billion tokens, would power the diverse businesses of the HashKey ecosystem and activate its growth, while rewarding users and partners for their contributions.
Interestingly, the reward program will have no private or public sales, nor any form of fundraising through HSK. Instead, the incentive-based distribution mechanism would be fair and is aimed at ecosystem users and partners.
Notably, about 65% of HSK will be allocated for ecosystem growth, 30% to the team, and 5% to a reserve fund, said the company. HashKey EcoPoints would be distributed as rewards for the usage of HashKey’s exchange business. It would also be expanded to other business line reward programs in the future.
The circulating supply of HSK will be offset by regular repurchasing and burning of tokens to counteract the dilutionary effect of reward distribution.
Significantly, Michel Lee, Executive President of HashKey Group, stated that “HSK is designed to drive adoption and to reward our users for contributing to the platform’s growth, providing a clear benefit for HashKey users and partners.”
Apart from the rewards program, HSK holders would also enjoy potential benefits on HashKey’s PRO crypto exchange platform, such as trading fee discounts and withdrawal fee waivers for selected digital assets. The reward program is not just designed for HashKey’s exchange business but also for all other businesses within the HashKey ecosystem, with more benefits set to be unveiled as adoption gains speed, according to the company.
