The reward distribution follows a two-phase approach: Phase 1 runs from November 22, 10:00 UTC to November 25, 23:59 UTC, with rewards distributed on November 26. Phase 2 will distribute the remaining rewards within seven days after the campaign ends.
By Bena Ilyas
Edited by Julia Sakovich
Updated
3 mins read
HashKey Global, a licensed virtual asset exchange, announced a groundbreaking partnership with Sonic, a prominent layer 2 network in the Solana ecosystem, on November 25, 2024. The collaboration aims to enhance the digital asset experience for millions of users worldwide, particularly targeting the rapidly growing TikTok gaming community.
The partnership comes at a crucial time when HashKey Global has emerged as one of the fastest-growing crypto exchanges in 2024, operating under a license from the Bermuda Monetary Authority. The exchange offers comprehensive trading services, including LaunchPad, contracts, and leverage products, establishing itself as a trusted platform in the digital asset space.
Sonic brings its revolutionary TikTok Web3 Applayer on Solana to the table. SonicX, its tap-to-earn game, has already demonstrated remarkable success. The game achieved the impressive milestone of attracting over 1 million players within just one month of its launch, marking a significant breakthrough in social media-based Web3 gaming.
The collaboration leverages HashKey Global’s robust trading infrastructure and extensive community network to deliver compliant digital asset services to Sonic’s growing global community. This strategic alliance represents a significant step forward in bridging the gap between traditional digital asset trading and social media-based gaming platforms.
Ben El-Baz, Managing Director of HashKey Global, highlighted the partnership’s importance as a major advancement in efforts to improve Web3 experiences for digital asset users and global stakeholders.
“This collaboration marks an exciting step forward in our mission to enhance the Web3 experience for global players and digital asset users. Together, we are committed to fostering a dynamic and compliant digital asset landscape that empowers users and drives the next wave of innovation in the gaming sector,” said El-Baz.
Chris Zhu, CEO of Sonic SVM, shared similar enthusiasm, emphasizing the alliance as a pivotal step toward making Web3 gaming widely accessible. SonicX provides HashKey with entry to millions of potential users, including those engaged through TikTok, opening new opportunities for growth.
“This partnership with HashKey Global represents a significant milestone […] By tapping into SonicX, HashKey is able to access […] millions via TikTok. We see this as the first of many exciting collaborations,” said Chris Zhu.
Both companies have launched an extensive reward campaign to commemorate this partnership, featuring a combined prize pool of 100,000 HSK and 500,000 SONIC RINGS. The campaign structure includes immediate rewards for KYC verification through the SonicX app, offering 5 HSK and 25 Sonic Rings, with additional bonuses for first-time deposits.
The reward distribution follows a two-phase approach, with Phase 1 running from November 22, 10:00 UTC, through November 25, 23:59 UTC, with rewards scheduled for distribution on November 26. Phase 2 will handle the remaining reward distribution within a seven-day window after the campaign’s conclusion.
Looking ahead, SonicX plans to continue its mining phase until its Token Generation Event (TGE), scheduled for either Q4 2024 or Q1 2025. As Chris Zhu revealed, the platform will maintain its mining operations post-TGE, albeit with modified reward mechanisms to ensure sustainable growth and user engagement.
Through this partnership, HashKey Global is committed to advancing the global Web3 ecosystem while providing users with secure, efficient trading experiences. The collaboration represents a strategic fusion of HashKey’s regulatory compliance expertise with Sonic SVM’s innovative gaming technology.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
