What Is Hakka Finance (HAKKA)?
Hakka Finance brings together several DeFi apps for users who want to achieve financial sovereignty. Alongside a decentralized exchange and a stablecoin AMM, “gamified” insurance products are offered.
All of these features are run and governed by the HAKKA token. According to its Medium site, Hakka launched in August 2020.
Who Are the Founders of HAKKA?
The brainchild of Hakka is Ping Chen, who has supported Ethereum since inception and has developed a range of decentralized apps.
Before Hakka, he produced technical literature about Ethereum that was targeted at some of the ecosystem’s biggest contributors.
Meanwhile, Jack Lai acts as a technical researcher for Hakka. He also produces technical content concerning blockchain technology, and is a co-organizer at Cypherpunks Taiwan, one of the largest cryptography and blockchain technology developer communities.
Meanwhile, both Wego Chen and Ian Hsu appear as advisors and contributors to Hakka. Chen co-founded Block Tempo, a prominent Chinese media outlet on blockchain issues. He also hosts the Asia Blockchain Summit conference. Hsu founded EM3’s community, and was an active participant in the early days of 0x, Chainlink, Kyber and Zilliqa.
What Makes HAKKA Unique?
According to its official site, Hakka Finance places an emphasis on decentralized governance, because of how it transfers power to individuals.
The products Hakka offers are BlackHoleSwap (BHS) and Third Floor Mutual (3F Mutual,) while Tokenized Collateralized Debt Positions (tCDP) and Crypto Structured Funds (CSF) have also been developed.
The BlackHoleSwap is a decentralized AMM geared toward stablecoins. Lending protocols are integrated to leverage excess supply, and borrowing is utilized on the inadequate side. In comparison to other AMMs, Hakka Finance says BlackHoleSwap can provide “nearly infinite liquidity” with low price slippage, maximizing capital utilization.
Meanwhile, 3F Mutual employs a mechanism that allows people to hedge against the risk of MakerDAO collapsing.
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How Many Hakka Finance (HAKKA) Coins Are There in Circulation?
There are a total of 148,215,353 coins in circulation, with 17,895,697 held by the Hakka team. The total supply will be 635,982,513.
How Is the Hakka Finance Network Secured?
Hakka Finance is based on the Ethereum blockchain, which is one of the oldest in the crypto ecosystem. Currently based on proof-of-work as of December 2020, its transition to proof-of-stake began in December 2020 with the launch of Ethereum 2.0.
Where Can You Buy Hakka Finance (HAKKA)?
HAKKA can be bought on many exchanges such as Uniswap, AEX, Balancer, Hotbit and Hoo.
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