BitcoinSistemi 2025-04-15 21:29:07

Users’ Patience is Running Out on Altcoins that Promised to Buy Back and Burn: Hasn’t Delivered What’s Expected in Months

The crypto community has been expressing concerns over the lack of transparency surrounding the buyback and burn of HashKey’s native token, HSK, a mechanism outlined in the project’s official white paper. According to numerous user reports, no token buyback or destruction activity has been publicly reported since the token’s launch. HSK’s whitepaper clearly states that HashKey Group will use 20% of its net profit to buyback and permanently remove HSK tokens from circulation; this strategy is designed to preserve the token’s intrinsic value. The HSK token information page maintained by HashKey Group states that the company reserves the right to use 20% of the net profits from the designated trading activities for this buyback and burn initiative. However, the data shows that the current figure for HSK buybacks and burns remains at zero. Related News: HOT MOMENTS: Things Got Messy at This Altcoin - One of the Founders Suspended for “Misconduct” The HashKey trading platform had previously committed to announcing the burn results on the 11th day of each quarter. HSK was officially launched in November 2024. On April 11, 2025, HashKey released a statement saying that the token burn program is still being evaluated regularly and that updates will be provided “when appropriate.” The lack of buyback activity has led to speculation within the community, with some suggesting that the lack of buybacks could be due to HashKey Group not making a net profit in the first quarter of 2025; this scenario would be in line with the terms outlined in the white paper. *This is not investment advice. Continue Reading: Users’ Patience is Running Out on Altcoins that Promised to Buy Back and Burn: Hasn’t Delivered What’s Expected in Months