{"id":"hsk","version":1,"language":"en","title":"HSK","hidden":false,"content":"**HSK** is the [HashKey](https://iq.wiki/wiki/hashkey-group) platform token based on the [ERC-20](https://iq.wiki/wiki/erc-20) standard protocol. It incentivizes contributors within the HashKey ecosystem and supports its growth. [\\[1\\]](#cite-id-9uwljtj004c)[\\[3\\]](#cite-id-j0xjdiom4ei)  \n  \n# Overview  \n  \nHSK is designed to incentivize contributors within the HashKey ecosystem, including users and partners, by offering various applications. Holders of HSK may benefit from: [\\[2\\]](#cite-id-owfq17oigtb)  \n  \n**[HashKey Exchange](https://iq.wiki/wiki/hashkey-exchange):**  \n  \n* Reduced trading fees: Trading fees settled in HSK may receive discounts of up to 0% on maker fees.  \n* Waiver of withdrawal fees for selected digital assets.  \n* Priority access to upcoming token subscriptions.  \n* Early notifications and access to new products and product upgrades.  \n  \n  \n**HashKey Custody:**   \n  \n* Custody fee discount or waiver  \n  \n  \n**HashKey DID:**  \n  \n* Cover expenses for on-chain verifiable credential service fees.  \n* Purchase limited edition NFTs and AI-generated avatars.  \n  \n  \n**HashKey DEX:**  \n  \n* Reduced trading fees.  \n* Access to private sales of exclusive tokens.  \n* Participation in the market maker program.  \n* Voting privileges for the listing of reputable Web3 projects.  \n* Enhanced allocation in airdrop distributions from partner projects.  \n  \n  \n**HashQuark:**   \n  \n* Increased node validation service rewards  \n  \n  \n**HashKey Capital:**   \n  \n* Research Report Release  \n  \n  \n# Supply Model  \n  \nHSK has a supply capped at 1 billion units, issued in line with real economic activity. New HSK enters circulation through a Total Rewards Pool, limited by a Reward Value Cap tied to net profits. This cap is set based on a multiple of generated profits, ensuring responsible issuance. HashKey adjusts the cap in response to market conditions and communicates changes to HSK holders regularly. [\\[2\\]](#cite-id-owfq17oigtb)  \n  \nHSK is distributed to ecosystem users and partners based on an incentive mechanism. There will be no sales or fund-raising activities involving HSK. [\\[3\\]](#cite-id-j0xjdiom4ei)  \n  \nHSK's supply model includes a burn mechanism, allowing HashKey to use 20% of net profits from HSK-participating businesses to buy and burn HSK tokens, potentially leading to a deflationary asset model. The main sources of supply growth are the Ecosystem Growth Pool and the Team Pool, with the former divided into different distribution programs. [\\[2\\]](#cite-id-owfq17oigtb)  \n  \n![Screen Shot 2024-06-02 at 12.26.25 PM.png](https://ipfs.everipedia.org/ipfs/QmcihkoTn24rJ6cnT4RRBH8JnwB39Q3wkzDw5bkwnhVnLq)  \n  \n## Ecosystem Growth Pool  \n  \n### Ecosystem Reward Programs  \n  \nThe allocation breakdown is as follows: [\\[2\\]](#cite-id-owfq17oigtb)  \n  \n* Business Growth Partnership Reservation Release Incentives: 520 million HSK (52.0%)  \n* Genesis VIP Incentives: 78 million HSK (7.8%)  \n* Other Contributor’s Rewards: 36 million HSK (3.6%)  \n* Early User Incentive Rewards: 16 million HSK (1.6%)  \n  \n  \nHSK is distributed to reward users contributing to the growth of the HashKey ecosystem. For example, HSK is minted and distributed from the Ecosystem Growth Pool for: [\\[2\\]](#cite-id-owfq17oigtb)  \n  \n* Early User Incentive Rewards: Incentivizing early users who sign up and transact on HashKey Exchange.  \n* Trading and Liquidity Rewards: Incentivizing users trading and providing liquidity on HashKey Exchange.  \n* Other Contributor's Rewards: Rewarding users contributing to business growth.  \n  \n  \n### Marketing  \n  \nHSK is allocated for marketing activities aimed at boosting brand awareness, acquiring users, and fostering community growth.  \n  \n###   \n  \n### Business Development  \n  \nHSK is used to incentivize ecosystem growth through partnerships and new projects.  \n  \n## Team Pool  \n  \nHSK is distributed as rewards to HashKey staff members who contribute to the business's growth.  \n  \n## Reserve Pool  \n  \nThe reserve pool provides additional protection for ecosystem users for contingency purposes.  \n  \n<br>  \n# Burning  \n  \nHashKey employs an offsetting issuance mechanism (burning) to safeguard HSK holders from the dilutionary effects of rewards-based increases in HSK circulating supply. This involves HashKey purchasing an amount of HSK equal to 20% of net profits from specified HashKey platform businesses and permanently burning the acquired HSK from HSK’s supply. Initially, these specified businesses comprise HashKey’s licensed exchange (HashKey Exchange), with further business lines and products to be included in the future. [\\[2\\]](#cite-id-owfq17oigtb)  \n  \n","summary":"HSK is a platform token based on the ERC-20 protocol that incentivizes contributors within the HashKey ecosystem and supports its growth.","categories":[{"id":"defi","title":"defi"}],"promoted":0,"tags":[{"id":"Ethereum"}],"metadata":[{"id":"references","value":"[{\"id\":\"9uwljtj004c\",\"url\":\"https://www.hashkey.com/en-US/hsk\",\"description\":\"HSK\",\"timestamp\":1717373132189},{\"id\":\"owfq17oigtb\",\"url\":\"https://www.hashkey.com/assets/HSKWhitepaper.45798a1b.pdf\",\"description\":\"Whitepaper\",\"timestamp\":1717373148353},{\"id\":\"j0xjdiom4ei\",\"url\":\"https://www.binance.com/en/square/post/409562\",\"description\":\"HSK Token\",\"timestamp\":1717374200147}]"}],"user":{"id":"0xfaF91FF28393Cf9292A351DbEa5FA6DCF34538D3"},"author":{"id":""},"media":[{"name":"Screen Shot 2024-06-02 at 12.26.25 PM.png","size":"0.34","id":"QmcihkoTn24rJ6cnT4RRBH8JnwB39Q3wkzDw5bkwnhVnLq","type":"GALLERY","source":"IPFS_IMG","hash":"QmcihkoTn24rJ6cnT4RRBH8JnwB39Q3wkzDw5bkwnhVnLq"}],"views":0,"events":[],"linkedWikis":{"founders":[],"blockchains":[],"speakers":[]},"images":[{"id":"QmWu7gM6po9qDhJYAsRuYdYqXLKcxV1SyePT49ypzTHHf3","type":"image/jpeg, image/png"}]}