Hakka Finance Coin Price & Market Data
Hakka Finance price today is $0.037379425238 with a 24-hour trading volume of $641,482. HAKKA price is down -3.6% in the last 24 hours. It has a circulating supply of 190 Million HAKKA coins and a max supply of 636 Million. If you are looking to buy or sell Hakka Finance, PancakeSwap (v2) is currently the most active exchange.
What is Hakka Finance?
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:
- Ping Cheng (Founder)
- Jack Lai (Technical Researcher)
- Wego Chen (Advisor)
- Ian Hsu (Advisor)
What are the products of Hakka Finance?
Currently, there are six products on Hakka Finance:
- Third Floor Mutual
- Hakka Intelligence
- Tokenized Collateralized Debt
- Crypto Structured Fund
However, only four out of the six products are live and operational.
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.
Third Floor Mutual acts as insurance in case MakerDAO collapses.
Unlike most insurance, the premium purchased on Third Floor Mutual will never expire.
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 (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:
- You may buy it from decentralized exchanges such as Uniswap and Balancer.
- 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.