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Alisa Davidson
Published: December 10, 2024 at 7:46 am Updated: December 10, 2024 at 7:46 am
Edited and fact-checked:
December 10, 2024 at 7:46 am
In Brief
HashKey Cloud has launched the “1 Million HSK Campaign,” inviting Babylon users to earn rewards by delegating their BTC to its nodes.
Staking service provider for digital asset financial services firm HashKey Group, HashKey Cloud has announced the launch of its “1 Million HSK Campaign.” The initiative invites members of the Bitcoin staking protocol Babylon to earn rewards by delegating their BTC to HashKey Cloud’s nodes. The campaign is already underway and will run until March 31, 2025, with rewards distributed on a first-come, first-served basis.
Babylon is a protocol aimed at enhancing the security of Proof-of-Stake (PoS) blockchains. It allows Bitcoin holders to put their idle BTC to work, earning yield while bolstering the economic security of PoS networks and decentralized applications (dApps).
In order to participate in the campaign, users can visit the Babylon platform, connect their wallets, select HashKey Cloud among the listed Finality Providers, and delegate their BTC. The more Bitcoin users delegate, the higher the rewards they can accumulate in HSK tokens, making the opportunity both accessible and rewarding for engaged participants.
HashKey Cloud has also announced plans to extend similar campaigns beyond Babylon. Following the conclusion of this initiative, a comparable activity will be launched in collaboration with Kaia, a blockchain infrastructure and platform provider. This expansion signals HashKey Cloud’s ongoing commitment to enhancing blockchain security and providing value to the community.
What Is HSK Token?
It is an ERC-20 token developed by HashKey Group for integration across its various businesses, including global licensed exchanges, investment management, tokenization platforms, and blockchain infrastructure services. It also functions as the native and gas token for HashKey Chain, a Layer 2 public blockchain.
The HSK token offers several potential benefits for holders. These include using the token to pay platform service fees, receiving trading fee discounts, earning community incentives to support ecosystem growth, and gaining priority access to new products, early notifications, and research report releases.
HSK tokenomics outlines a total supply of 1 billion tokens distributed to ensure balanced growth and development. Of this supply, 65% is allocated to ecosystem growth, 30% is set aside for team incentives, and 5% is reserved for future needs.
The token became available for trading in November and is currently listed on several cryptocurrency exchanges, including HashKey Global, Gate.io, KuCoin, BingX, and MEXC.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
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