HashKey Announces Plan For First HSK Token Buyback And Burn

• HashKey plans first HSK token buyback and burn after long delays and investor concerns.  
• No HSK tokens repurchased or burned yet despite 20% profit commitment in whitepaper.  
• HSK price drops 11.92% but trading volume spikes 219% amid market volatility.  

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 previously committed to using 20% of net profits for HSK buybacks/burns after the token launched in November 2024, but no burns have occurred yet. 

Community members noted the lack of public buyback records, despite HashKey stating updates would occur quarterly. The HSK token information page still shows zero tokens repurchased or burned. HashKey’s whitepaper detailed the plan to use profits to reduce HSK supply as a value-protection measure.

In response to growing scrutiny, the HashKey team issued a statement reaffirming their 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 stabilized and promised to communicate progress through official channels.

What Are the Tokenomics & Unlock Schedule for HSK?

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

• Ecosystem Development: 65% (650M HSK), with 155M unlocked.
• Team: 30% (300M HSK), with 16.7M unlocked.
• Risk Management: 5% (50M HSK), fully locked

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

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

How Did HSK Price React to Buyback Announcement?

HashKey’s update 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.