HashKey Group launches incentive mechanism (EcoPoints) for users and partners

The HashKey Group today launched HashKey EcoPoints to drive more user engagement and reward active participation. HashKey EcoPoints (HSK) is designed to serve as an incentive to contributors which includes users and partners in the HashKey ecosystem. Further, according to HashKey, HSK’s distribution mechanism is an incentive-based distribution that caters to the users and partners of the ecosystem.

HashKey Group is an Asian-based “end-to-end” virtual asset financial services group. Interestingly, the firm stated that “there will be no private or public sales of HSK, nor any form of fundraising carried out through HSK.”

According to HashKey HSK, utilities will:

• Power the businesses of the HashKey ecosystem. 
• Activate the ecosystem’s potential growth.
• Reward users and partners for contributing to the development of the ecosystem.

The newly launched EcoPoints will introduce Benefits such as trading fee discounts and waiving of withdrawal fees for selected digital assets. These benefits are as well applicable to other businesses in the HashKey ecosystem.

HSK has a fixed total supply of 1 billion HSK, from which 65% will be allocated for ecosystem growth, 30% to the team, and 5% to a reserve fund. HSK will also run a burn and buyback mechanism from circulating supply to offset the dilutionary effect of reward distribution, HashKey said.

Moreso, HSK smart contracts were audited by Slowmist and are deployed on the Ethereum blockchain.  

Michel Lee, the Executive President of HashKey Group mentioned that HSK is a step toward building a synergistic ecosystem powered by blockchain and Web 3 technologies.

Users interacting with HashKey’s exchange and businesses will be rewarded in HSK. As the ecosystem grows, HashKey said it will expand to more business lines, hence more rewards in the future.

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