Article Summary, Automatically Generated By AI
Summary of Hakka Finance (HAKKA)
Overview
- Hakka Finance is a DeFi platform offering a decentralized exchange, stablecoin AMM, and “gamified” insurance products.
- Governed by the HAKKA token.
Founders
- Ping Chen: founder, supported Ethereum since inception, developed decentralized apps.
- Jack Lai: technical researcher, produces technical content on blockchain technology.
- Wego Chen and Ian Hsu: advisors and contributors.
Unique Features
- Decentralized governance, transferring power to individuals.
- Products
About Hakka.Finance
Introducing Hakka.Finance, a pioneering decentralized finance (DeFi) platform designed to empower users with a seamless and secure cryptocurrency trading experience.
Introducing Hakka Finance (HAKKA): A Revolutionary DeFi Platform
Hakka Finance converges a suite of DeFi applications, empowering users to attain financial autonomy. This comprehensive ecosystem encompasses a decentralized exchange, a stablecoin automated market maker, and innovative, gamified insurance products.
At the heart of this ecosystem lies the HAKKA token, which powers and governs all of these features. Notably, Hakka’s journey began in August 2020, as stated on its Medium site.
The Visionary Founders Behind HAKKA
The visionary behind Hakka is Ping Chen, a stalwart supporter of Ethereum since its inception, who has successfully developed a diverse array of decentralized applications.
Prior to Hakka, he authored technical literature focused on Ethereum, specifically catering to some of the ecosystem’s most prominent contributors.
Notably, Jack Lai assumes the role of technical researcher at Hakka, where he crafts
in-depth content focused on blockchain technology. Additionally, he serves as a
co-organizer at Cypherpunks Taiwan, a prominent community of cryptography and
blockchain technology developers, boasting a substantial following.
Notably, Wego Chen and Ian Hsu have assumed advisory and contributory roles within the Hakka ecosystem. Chen, a seasoned blockchain expert, co-founded Block Tempo, a reputable Chinese media outlet specializing in blockchain-related issues. Additionally, he hosts the esteemed Asia Blockchain Summit conference. Hsu, meanwhile, founded the EM3 community and was an early advocate for prominent projects such as 0x, Chainlink, Kyber, and Zilliqa.
Unveiling the Unparalleled Essence of HAKKA
According to its official website, Hakka Finance prioritizes decentralized governance, thereby empowering individuals by relinquishing control to them.
Hakka’s product suite comprises BlackHoleSwap (BHS) and Third Floor Mutual (3F Mutual), with Tokenized Collateralized Debt Positions (tCDP) and Crypto Structured Funds (CSF) also being part of its development portfolio.
The BlackHoleSwap is a decentralized Automated Market Maker (AMM) specifically designed for stablecoins. By integrating lending protocols, it optimizes excess supply and utilizes borrowing on the deficient side. Notably, Hakka Finance asserts that BlackHoleSwap can provide “nearly infinite liquidity” with minimal price slippage, thereby maximizing capital utilization to unprecedented levels.
Concurrently, 3F Mutual incorporates a safeguard mechanism, enabling individuals to mitigate the potential risks associated with a potential collapse of MakerDAO.
What Is the Circulating Supply of Hakka Finance (HAKKA) Coins?
A total of 148,215,353 coins are currently in circulation, with 17,895,697 coins allocated to the Hakka team. The total supply is capped at 635,982,513 coins.
The Security Architecture of the Hakka Finance Network: A Robust Framework
Hakka Finance is anchored to the Ethereum blockchain, a stalwart in the crypto ecosystem with a rich history. As of December 2020, it was still reliant on the proof-of-work consensus mechanism, but a significant milestone was reached with the launch of Ethereum 2.0, marking the commencement of its transition to a proof-of-stake framework.
Where to Acquire Hakka Finance (HAKKA) Tokens
HAKKA is readily available for purchase on a multitude of prominent exchanges, including Uniswap, AEX, Balancer, Hotbit, and Hoo.
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