3F Mutual Launch & HAKKA Reward Pools v3
The second product of Hakka Finance, 3F Mutual, will be released soon. An official announcement will be made ~30mins before contract deployment in the Telegram announcement channel of Hakka Finance: https://t.me/HAKKA_Announcement.
About 3F Mutual
Third Floor Mutual (3F Mutual) employs a rainy day fund like mechanism that allows for one to hedge against MakerDAO collapse risk. It exists as neither an option nor a short position of ETH/DAI/MKR. Our rainy day fund-like design means it acts more like collective insurance.
Official Website: https://3fmutual.com/
Whitepaper (Mandarin): https://3fmutual.com/whitepaper-zh.pdf
Presentation (Mandarin): http://bit.ly/3FM-ZH or https://docs.google.com/presentation/d/1LlyiWfJKgo0s3wiZgqo2_Nv_INGpxdMTuSBDhiigirc/
Product Wiki: https://3fmutual.hostedwiki.co/
Test Version of 3F Mutual (on “Kovan” Test Network):
The official version of 3F Mutual is a little bit different from the SAI version which released before. For example, a new feature Insurance Improvement Proposal(IIP) is introduced. The first IIP will be used to purchase MKR from the market.
3F Mutual Top Agent Competition
<1> First-Mover Achievement: 100,000 HAKKA
The first 10 Agents to achieve the “Blue Diamond” level will receive a special reward of 10,000 HAKKA each.
Learn more about the insurance agent of 3F Mutual: https://medium.com/hakkafinance/ipfs-and-3fmutual-referral-system-84d23ea95c8f
<2> Top-Sales Reward: 1,250,000 HAKKA
There will be a 14-days sales contest since the launch of 3F Mutual. The top 10 agents that successfully promote the most insurance sales in this period would be granted the special reward of HAKKA.
Deadline: 10:00 Oct 3rd, 2020 (UTC) (14 days after the launch of 3F Mutual)
*We will snapshot the first block after 13:30 UTC to determine the winners.
Reward Pool #4
To provide greater liquidity to both HAKKA and MKR, another HAKKA reward pool will be opened. We will introduce pool #4: the HAKKA & MKR pair on Uniswap. 500,000 HAKKA will be distributed to pool #4 each week to reward the liquidity providers for 4 consecutive weeks. A total of 2,000,000 HAKKA will be awarded to this pool.
To receive the HAKKA reward, follow the steps below:
2. Add Liquidity to the Uniswap pool (50% MKR / 50% HAKKA)
3. Receive the UNIV2 MKR/HAKKA LP
4. Visit https://rewards.hakka.finance/
5. Enter the Uniswap Pool (Pool #4)
6. Stake your LP token into the reward contract and start receiving the HAKKA reward since the launch of 3F Mutual
For your information, based on the result of HIP-9, the mine allocation of the 3rd week will be:
- Pool #1: 500,000 HAKKA/week (BHSc$)
- Pool #2: 1,500,000 HAKKA/week (BPT: 90% BHSc$ / 4% USDC / 4% DAI / 2% HAKKA)
- Pool #3: 2,500,000 HAKKA/week (BPT: 50% BHSc$ / 50% HAKKA)
- Pool #4: 500,000 HAKKA/week (Uniswap LP: 50% MKR / 50% HAKKA)
Above liquidity mining allocation is limited to the 3rd week, and it might be changed in the following weeks. Also, new pools might be opened while new products of Hakka Finance are released.
Stay tuned and remember to check the announcement channel so that you can join 3F Mutual at the first chance.