HashKey hints at release date for its layer2 network on Ethereum

Hong Kong-based cryptocurrency exchange HashKey has announced the expected launch date for its Ethereum layer-2 solution, HashKey Chain. The exchange operator, HashKey Group, revealed that the mainnet of the network will be launched in the fourth quarter of this year. HashKey Chain will serve as the foundation for HashKey EcoPoints (HSK), an ERC-20 token created by HashKey Group to incentivize ecosystem contributors. The token will provide fee discounts, asset issuance rights, and early access to new token subscriptions. The HSK whitepaper states that there will be a total supply of 1 billion tokens, with allocations for marketing, business development, and ecosystem user protection. HashKey will also burn HSK tokens using 20% of its net profits to prevent dilution of the token’s value. The exchange initially revealed plans for its utility token in November 2023, emphasizing its alignment with the long-term interests of ecosystem contributors. Additionally, HashKey has launched a tap-to-earn bot on Telegram to attract retailers with its HSK token.