Hong Kong HashKey Group will launch Ethereum Layer 2 network HashKey Chain! The platform currency HSK is issued in the middle of the year

This site (120BtC.coM): HashKey Group, the parent company of Hong Kong cryptocurrency exchange HashKey Exchange, announced at the Hong Kong Web3 Carnival today (9th) that it will soon launch Ethereum Layer 2 Network "HashKey Chain".

Officially stated that HashKey Chain will use ZK zero-knowledge proof technology to provide users with low-cost, efficient and developer-friendly on-chain solutions, while incentivizing ecological contributors through the platform currency $HSK.

Becomes another exchange that develops its own public chain after Coinbase launched Base chain and OKX launched OKB Chain. It is obvious that issuing its own public chain has become a popular choice for various exchanges.

$HSK Token Economics

It is understood that HashKey is expected to launch the platform currency $HSK in mid-2024. The initial empowerment includes exchange fees, exploration and empowerment of the RWA market, Various uses such as ecological business rights and interests will surely become important application scenarios of HSK.

According to the white paper, the total issuance of HSK is 1 billion, and the token distribution is as follows:

• 650 million are allocated for ecological growth

• The team allocates 300 million coins

• The vault allocates 50 million coins

HSK total 10 The distribution of tokens with a total supply of 100 million

has just announced the establishment of the international platform HashKey Global

Just yesterday (8), HashKey Group just stated that the company has obtained Bermuda’s "Digital Asset Investment" "Comprehensive license for the privacy protection system" and officially launched the HashKey Global international trading platform.

Chief Operating Officer Weng Xiaoqi said that HashKey Exchange has approximately 170,000 customers. It is estimated that the number of potential customers who are interested but do not meet the requirements is four times that of existing customers. This potential cannot be unleashed through the Hong Kong business. Therefore, the HashKey Gloabl platform was established, and stable currencies such as USDT and USDC can be traded directly.

The two platforms have different positioning:

• HashKey Exchange, which has obtained a Hong Kong license, focuses on Hong Kong and surrounding markets, as well as institutional customers

• HashKey Global serves retail investors who cannot enter the Hong Kong market, but does not include China, Hong Kong, the United States and countries that have explicitly stated that they do not allow the operation of virtual property platforms. It is expected that the main customer sources will be overseas Chinese and users from Southeast Asian countries.

Weng Xiaoqi said that the Hong Kong platform adopts the highest standards for user protection, while the global platform can experiment with innovative functions, hoping to learn from experience and in turn promote the development of Hong Kong.

Weng Xiaoqi mentioned that at this stage, he hopes that the Securities Regulatory Commission will approve the trading of futures, but he believes that the Hong Kong Securities Regulatory Commission feels that the risk is very high. However, assuming that it has been tested on the global platform for half a year to a year, it will be used at a low multiple such as 2 or 3 times. Leverage Bitcoin and Ethereum and report relevant data and experience to Hong Kong. This move is expected to promote the regulatory development of Hong Kong.

Looking forward to the future, HashKey will continue to carry out exchange business in a licensed manner. Weng Xiaoqi revealed that two additional licenses are under negotiation. In the next five years, we will be based in Hong Kong and focus on the Asia-Pacific region. We hope to obtain licenses in different regions around the world, summarize the operating experience in each region, and form interactive relationships.

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