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Community questioned that HashKey tokens HSK were not purchased and destroyed as stipulated in the white paper

On April 15, according to feedback from community users, the HashKey token and HSK token repurchase and destruction records have never been publicly disclosed. According to the HSK white paper, HashKey uses a destruction mechanism to protect the intrinsic value of HSK. HashKey will regularly use 20% of the group's net profit to repurchase HSK in circulation and permanently remove it from circulation. On the Hashkey Group's page on HSK information, HSK destruction information shows that "HashKey will have the right to withdraw 20% of the net profit generated by the designated platform business as funds for repurchase of HSK, and permanently destroy the repurchased part." After inquiry, the "repurchase/destruction" data on the HSK page of HashKey Group is 0. The Hashkey trading platform said it will announce the destruction results on the 11th day of every quarter. HSK will be launched in November 2024. On April 11 this year, HashKey issued an announcement stating that the HSK token destruction plan will be regularly evaluated and announced when applicable. The community understands that HSK has not carried out repurchase or destruction at present. Some people say that the reason why HSK did not repurchase and destroy it was because HashKey Group did not generate net profit in Q1 of 2025, so it was reasonable not to repurchase it.

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