HashKey Group Confirms 20% Net Profit for HSK Token Buyback

HashKey Group has released an open letter to the community addressing concerns about the buyback and burn mechanism of its HSK token. The company reiterated its commitment to using 20% of its net profit for buyback and burn activities, as outlined in its whitepaper. This mechanism is designed to enhance the long-term value of the HSK token.

Currently, HashKey Group is focused on building compliance infrastructure and expanding into global markets. Some of its businesses are still in the strategic investment phase, which has led to delays in the buyback process. The company acknowledged the community's expectations and assured that the first round of buyback will commence once operations stabilize. Timely updates will be provided as the process progresses.

Earlier, the community had raised questions about the lack of buyback and burn activities for the HSK token, as specified in the whitepaper. The "Buyback/Burn" data on the HashKey Group's HSK page showed zero activity. The company had previously stated that burn results would be announced on the 11th day of each quarter. HSK was launched on November 11, 2024, and on April 11th this year, HashKey announced that the HSK token burn plan would be regularly evaluated and disclosed when applicable. The community understood that currently, HSK has not undergone buyback and burn activities.