HashKey Group Plans to Start the First Buyback and Burn of Its Platform Token, HSK

HashKey Group plans to start the first buyback and burn of its platform token, HSK. The announcement follows investor questions about delays and transparency regarding the program.

HashKey Group has announced the pending commencement of the first buyback and burn of its platform token, HSK. Investor inquiries regarding the status and transparency of the buyback program led to the announcement.

HashKey unveiled its plan to use 20% of net profits for HSK buybacks and burns after the token launched in November 2024. However, no burn activity has been recorded yet.

Community members have pointed out the lack of public records for buybacks, despite HashKey stating that updates would occur on a quarterly basis. The HSK token information page still shows zero tokens repurchased or burned.

HashKey’s whitepaper details the plan to use profits to decrease HSK’s circulating supply as a value-protection measure.

In response to growing scrutiny, the HashKey team issued a statement reaffirming its intention to follow through on the buyback plan. The group attributed the delay to its ongoing investment in regulatory compliance and global expansion.

The company stated that buybacks will begin once operations stabilize, and it promised to keep the community informed through official channels.

What Are the Tokenomics & Unlock Schedule for HSK?

HSK has a total supply of 1 billion tokens. Current allocations show:

According to the latest data, HSK has a total supply of 1 billion tokens. The majority, 65% or 650 million tokens, is allocated for ecosystem development, with 155 million already unlocked.

The current tokenomics reveal that no wallet holds more than 5% of the total supply, showcasing an effort toward decentralization. The category intended for buybacks and burns shows no activity, highlighting that deflationary measures have yet to be implemented.

How Did HSK Price React to Buyback Announcement?

HashKey’s update has triggered significant market volatility for HSK. The token fell 11.92% in the past 24 hours to $0.3930, down from an earlier high of $0.4462. CoinMarketCap data shows a market capitalization of $52.07 million.

Despite the price drop, 24-hour trading volume surged by 219.06%, reaching $3.21 million, suggesting increased investor engagement during the downturn.

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