News Report Technology
December 10, 2024

HashKey Cloud Partners With Babylon For ‘1 Million HSK Campaign’, Offering Participants Rewards For Delegating BTC To Its Nodes

In Brief

HashKey Cloud has launched the “1 Million HSK Campaign,” inviting Babylon users to earn rewards by delegating their BTC to its nodes.

HashKey Cloud Partners With Babylon For ‘1 Million HSK Campaign’, Offering Participants Rewards For Delegating 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

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

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.

More articles
Alisa Davidson
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.

Hot Stories
Join Our Newsletter.
Latest News

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
MAS Clarifies Regulatory Regime For Digital Token Service Providers, Addressing Industry Concerns
Business News Report Technology
MAS Clarifies Regulatory Regime For Digital Token Service Providers, Addressing Industry Concerns
June 6, 2025
Anthropic Unveils Claude Gov: Specialized AI Models Developed For US National Security Use
News Report Technology
Anthropic Unveils Claude Gov: Specialized AI Models Developed For US National Security Use
June 6, 2025
EigenLayer Rolls Out Redistribution Feature, Allowing AVSs To Repurpose And Distribute Slashed Funds
News Report Technology
EigenLayer Rolls Out Redistribution Feature, Allowing AVSs To Repurpose And Distribute Slashed Funds
June 6, 2025
First Week Of June:  Binance Academy And Solana Spark Global Blockchain Growth
News Report Technology
First Week Of June:  Binance Academy And Solana Spark Global Blockchain Growth
June 6, 2025