• 16 April 2025
• |
• 08:30

Questions are mounting around HashKey’s handling of its HSK token, as the crypto community grows increasingly skeptical about the project's long-promised buyback and burn program.

Despite the company’s earlier commitment to reducing the token supply using a portion of its profits, no such activity has been publicly confirmed since the token’s launch in late 2024.

The tokenomics outlined in HSK’s official documentation promised that 20% of HashKey Group’s net profits would be used to repurchase and permanently remove HSK from circulation. The goal was clear: reduce supply, support value. But so far, no transactions reflecting this process have been disclosed.

HashKey’s official materials still reference the buyback mechanism, giving the company discretion to carry out burns using proceeds from its trading operations. However, the public ledger shows zero movement in this regard. The community, expecting quarterly updates, has started voicing frustration.

The company initially committed to publishing burn updates on the 11th day of every quarter, but when the expected April 11, 2025 update arrived, it offered little clarity. Instead of detailing any activity, the team merely stated that the program remains under review and updates will be shared “when appropriate.”

This silence has fueled speculation. Some believe the absence of buybacks might stem from the company not turning a profit in early 2025 — a possibility that would technically align with the original plan. Still, without transparency, uncertainty continues to grow, leaving token holders to wonder whether the promised deflationary strategy will ever be realized.

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