HashKey teases launch date for its Ethereum layer-2 network

Hong Kong-based crypto alternate HashKey has introduced the launch timeline for its proprietary Ethereum layer-2 resolution known as HashKey Chain.

HashKey Group, Hong Kong’s largest licensed crypto alternate operator, has introduced the launch window for its Ethereum layer-2 resolution known as HashKey Chain. In an X publish on July 8, the X account behind the mission revealed that the community’s mainnet is anticipated to launch within the fourth quarter, with out offering a particular launch date.

The HashKey Chain community will function the inspiration for the HashKey EcoPoints (HSK), an ERC-20 token developed by HashKey Group to function an incentive for contributors to the ecosystem, by offering reductions on charges and ‘particular rights’ for asset issuance and for early entry to “future new token subscriptions.”

As crypto.information beforehand reported, the HSK whitepaper outlines a complete provide of 1 billion tokens. Of this, 65% shall be allotted to advertising and marketing and enterprise improvement, 30% to the HashKey workforce and 5% reserved for added safety of ecosystem customers. The alternate may also burn HSK tokens, utilizing 20% ​​of the corporate’s web income to “defend HSK holders from the dilutive affect of rewards-based will increase in circulating HSK provide.”

HashKey first revealed plans for its personal utility token in November 2023, saying the token’s financial mannequin shall be “carefully tied to the long-term pursuits of the contributors to the ecosystem.”