Hakka Finance

HAKKA Price

What is Hakka Finance?

Hakka Finance is a Decentralized Autonomous Organization (DAO) aiming to build a suite of Decentralized Finance (DeFi) products.

Hakka Finance operates on the Ethereum blockchain, and its native token is called HAKKA. HAKKA is used to vote on governance proposals for the Hakka Finance protocol.

A brief history of Hakka Finance

Hakka Finance bootstrapped their project through seed funds from friends and family. 72,014,500 HAKKA tokens were released at $0.0005 by the end of 2019, and 60% of these released tokens are vested in the foundation’s multi-sig wallet for half a year. More information on this can be found here.

Hakka Finance officially launched during the DeFi summer in August 2020. At the time of writing, the team comprises four prominent people: 

1. Ping Cheng (Founder)
2. Jack Lai (Technical Researcher)
3. Wego Chen (Advisor)
4. Ian Hsu (Advisor)

What are the products of Hakka Finance?

Currently, there are six products on Hakka Finance:

1. BlackHoleSwap
2. Third Floor Mutual
3. Hakka Intelligence
4. iGain
5. Tokenized Collateralized Debt
6. Crypto Structured Fund 

However, only four out of the six products are live and operational. 

BlackHoleSwap

BlackHoleSwap is an Automated Market Maker based decentralized exchange (DEX) built specifically for stablecoins. BlackHoleSwap and Curve’s biggest difference is that BlackHoleSwap puts its reserves into lending protocols such as Compound.

There are currently only two stablecoins on BlackHoleSwap: DAI and USD Coin. 
 
Third Floor Mutual

Third Floor Mutual acts as insurance in case MakerDAO collapses. 

(Image source: https://hakka-finance.gitbook.io/hakka-wiki/hakka-products/third-floor-mutual-3fm)

Unlike most insurance, the premium purchased on Third Floor Mutual will never expire.

Hakka Intelligence

Hakka Intelligence is a price prediction platform that allows HAKKA token holders to predict each asset’s position changes. The initiator is the HAKKA team themselves, who will set the ratio and values of each asset.

Participants are required to stake a certain amount of HAKKA, and if the final score is above average, they will earn some rewards. Vice versa, if the score is below average, participants will incur some loss.

If you are interested in learning more about how it works, you can refer to this document. 

iGain

iGain (short for impermanent gain) is a dApp that allows traders to buy Call or Put options on the underlying assets. These Call and Put options are tokenized into Long and Short tokens and traded in a built-in decentralized exchange. 

For the built-in decentralized exchange to work, liquidity providers are needed to bootstrap it. Liquidity providers can earn trading fees (3%) and reward for providing liquidity. If the liquidity providers withdraw liquidity before the expiration date, the protocol will charge a 3% withdrawal fee. To learn more on how it works, you can refer to the iGain documentation.

How can I get HAKKA?

There are two ways where you can obtain Hakka:

1. You may buy it from decentralized exchanges such as Uniswap and Balancer.
2. You may participate in Hakka’s yield farming program. There are currently two active pools, and both require liquidity on Balancer before staking on Hakka Finance’s reward pools. You can read more about it here.

What can I do with a HAKKA token?

Hakka Finance refers to itself as a DAO and transfers the power back to its community. If you are interested in their governance roadmap, you can refer to it here.

HAKKA token holders can vote on Hakka Improvement Proposals (HIP) on its voting page. Currently, voting is conducted off-chain, and hence, there will be no gas involved when voting. 

Where can you buy Hakka Finance?

HAKKA tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Hakka Finance is Uniswap V2 (Ethereum), where the most active trading pair HAKKA/WETH has a trading volume of $196.14 in the last 24 hours.

What is the daily trading volume of Hakka Finance (HAKKA)?

The trading volume of Hakka Finance (HAKKA) is $254.47 in the last 24 hours, representing a 24.30% increase from one day ago and signalling a recent rise in market activity.

What is the all-time high for Hakka Finance (HAKKA)?

The highest price paid for Hakka Finance (HAKKA) is BTC0.00009567, which was recorded on Sep 01, 2020 (over 4 years). Comparatively, the current price is -99.70% lower than the all-time high price.

What is the all-time low for Hakka Finance (HAKKA)?

The lowest price paid for Hakka Finance (HAKKA) is BTC0.0₈6172, which was recorded on Dec 17, 2022 (almost 2 years). Comparatively, the current price is 2,862.20% higher than the all-time low price.

What is the market cap of Hakka Finance (HAKKA)?

Market capitalization of Hakka Finance (HAKKA) is BTC9.1465 and is ranked #3978 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of HAKKA tokens (290 Million tokens are tradable on the market today).

What is the fully diluted valuation of Hakka Finance (HAKKA)?

The fully diluted valuation (FDV) of Hakka Finance (HAKKA) is BTC16.1231. This is a statistical representation of the maximum market cap, assuming the maximum number of 520 Million HAKKA tokens are in circulation today. Depending on how the emission schedule of HAKKA tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Hakka Finance compare against its peers?

With a price decline of -5.40% in the last 7 days, Hakka Finance (HAKKA) is underperforming the global cryptocurrency market which is down -0.80%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

How to add Hakka Finance (HAKKA) to MetaMask?

Adding Hakka Finance (HAKKA) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import HAKKA as a token. You can copy HAKKA’s contract address (0x0e29e5abbb5fd88e28b2d355774e73bd47de3bcd) and import it manually, or if you've installed MetaMask's chrome extension, add HAKKA to MetaMask with one click on CoinGecko.

Add HAKKA to MetaMask.