HashKey Exchange is currently one of the two licensed virtual asset trading platforms in Hong Kong. In April, it launched HashKey Global to target a wider customer base. HashKey Group even boldly stated that its hypothetical competitor is the first-tier Coinbase in the United States. As its exchange cluster continues to develop, this newly emerged unicorn enterprise has become profitable. Against this backdrop, they have successfully launched their platform token, $HSK. Next, we will invite the project leader of $HSK, Kay, to answer some questions about the platform token's prospects.

Increase in Platform Token Value with Exchange Development

DejenDog, launched by HashKey Group on Telegram, is a Tap to Earn mini-game and the official airdrop channel for $HSK. Users participating in the DejenDog game have the chance to receive 10 million Eligible HSK, but it is not limited to DejenDog users. According to documents from HashKey Group, HashKey plans to list its platform token $HSK in the third quarter of 2024. Therefore, for those who participated in the airdrop activity or are interested in this platform token, the most important concerns are its prospects and security. In response to this, Kay stated:

"First of all, the timing of $HSK's launch is very different from well-known platform tokens. $HSK is launched after the group has established a solid foundation and is profitable. $HSK is positioned as the ecological token of the entire Hashkey Group. Therefore, we hope to make it a carrier of the entire value of the Hashkey ecosystem. Its so-called value growth is accompanied by the growth of our entire group's business, including exchanges, managed asset scale, various mining pools, OTC, and so on, covering our entire business line.

As for our comparison with Coinbase, although there is still a gap in market value, the difference in trading volume between us and them has actually been narrowing."

• According to official data, as of July 24th, the total trading volume of HashKey Exchange has reached 450 billion Hong Kong dollars.
• According to CoinGecko's cryptocurrency exchange trust score ranking, HashKey Exchange and HashKey Global are ranked 14th and 15th, respectively.

Transparency to Avoid "Front-Running"

For HashKey, which is based in Hong Kong, investors who have experienced the JPEX incident or held its platform token $JPC are more concerned about the volatility of platform token prices. Kay believes that what people are worried about is not the volatility itself, because she is also a retail investor and thinks that what people are worried about is market manipulation due to information asymmetry. Volatility itself is healthy, and the industry has its ups and downs, which is normal. However, what people fear the most is the skyrocketing volatility, where someone makes money by front-running with insider information, which is also common in the stock market.

Kay further reassured $HSK: "So what we are doing this time is that we will present all the information to everyone. When $HSK is undervalued by the market, we will actively hold it for the long term and drive the next business."

Focus on Compliance and Growth through Diversity

In order to achieve growth under compliance, Kay openly stated that many exchanges actually use unconventional means to achieve growth, but HashKey will not do so. Therefore, under this natural growth, the group's growth rate is very fast. At the same time, HashKey Global has also launched the world's first compliant contract platform.

Kay further added: "We do not have the concept of a platform token like Coinbase. In the United States, it is a stock. For the Web3 ecosystem, compliance is definitely a platform, and we have tokens. For Web3, it is a better concept to accept, and we also cooperate with our public chain. Like Coinbase, it uses Ethereum, and it does not have a native token. Therefore, the empowerment of this token is not a conceptual thing. We are not just an exchange itself; we also have a public chain, our web3, and this token will eventually become a golden plate. In the future, all our partners can do airdrops through our portal or various community collaborations."

Empowerment of Platform Token

Regarding the empowerment of the platform token, Kay pointed out some expected scenarios, including but not limited to:

• Adoption on the exchange side, including the familiar concept of trading fee discounts. In addition, HashKey Global has the functionality of launchpool and launchpad, where $HSK can be used to obtain new assets, similar to Binance's BNB.
• Various exclusive airdrop activities on various exchanges.
• It will serve as a native token and gas token, and all ecosystems on our own public chain will use $HSK as an organic link in the future.
• Unique services will be provided in future asset management, and holding $HSK can provide access to these privileges.

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