7 Ways To Earn With Hakka Finance
Hakka Finance offers a rich ecosystem of Decentralized Financial products.
In layman’s terms, it means that it empowers anyone, anywhere with various ways to make money in DeFi (that are not simply buying a token and waiting for it to “moon”).
Let’s list them down one by one.
1- Don’t just hold HAKKA, stake it!
The first way is to stake your HAKKA tokens, so they will become staked HAKKA tokens (sHAKKA).
Staking is a way to prove your belief in the Hakka Finance ecosystem and DAO and will allow you to be rewarded in the process!
Long story short: the longer you stake, the more voting power you get, which will allow you to farm as we will see later!
And guess what? Staking your HAKKA gives you voting power on all DAO proposals on Snapshot! In other words, you will have a voice on everything the Hakka community wants to vote on!
And last but not least, staking is available on multiple chains, namely Ethereum Mainnet, Polygon, and Binance Smart Chain!
And by the way, staking makes you eligible to win one NFT in our Play2Earn game! Check it out.
2- Don’t just stake HAKKA, farm it!
In fact, staking is merely the first step.
After staking, there is a way to compound your gains: Farming.
Farming consists in placing specific tokens in a pool… to mint more HAKKA!
Remember? The longer you stake, the more sHAKKA (voting power) you get! So the longer you stake, the more you can compound your gains!
It is a way for a DAO to generously reward users performing specific tasks, like staking HAKKA or providing liquidity on iGain IRS, because they help protocols and platforms to function smoothly.
These pools are often created “democratically”, after the DAO and core team agree on which one to launch to reward users on the platform Snapshot.
And here’s the cool thing: these pools usually yield 3-digit APR (annual returns)! These pools, with the exception of sHAKKA pools, have a limited amount of rewards, so the earlier you farm, the more you earn!
3- Earn at fixed rates on iGain!
Actually, there’s more than 1 way to fructify your stablecoins on iGain!
They would be too long to develop here: so here’s an article of ours detailing 4 ways how!
4- Guess future crypto prices with Hakka Intelligence!
Buying tokens is the most common way to make money in crypto.
However, we all know the market has not yet matured and can show signs of wild volatility. And novices among investors easily get “rekt” because the only scenario where they can take make money is upward movements in price.
Even if those investors might be right for the long term, they might go through long periods of pain and bear markets, and eventually lose patience.
On Hakka Intelligence, DeFi investors do not have to wait for 5 years to be eventually profitable. They just need to have the right intuition for where the market will be headed in 3 months, regardless of the direction, and without owning any of the underlying tokens, just bet with HAKKA.
Basically, the platform lets users estimate the future prices of a couple of tokens (usually 5). All users have to place their bets in a pool, that also contains extra HAKKA deposited by the DAO. And all users will earn from that pool after the round is over, proportionally to their prediction accuracy!
In other terms, the better you are at predicting the market (even when it goes down), the more you earn!
It is an indirect way to reward the smartest (or luckiest) investors, as we have stated here. So the most insightful users will get the opportunity earn more HAKKA and therefore obtain more voting power!
Check out Hakka Intelligence here.
5- Being insured against DeFi systemic risk with 3F Mutual!
There are some ways to make gains in the blockchain world that we hope to never need. 3F Mutual is one of those.
In the wonderful world of finance, absolutely nothing is risk-free and 100% resilient to shocks. Not even the financial system itself. Those who remember the financial crisis of 2008 remember that very well.
Everybody across markets got famously impacted by it, with the exception of these people.
In the case above, these cautious investors used the power of certain financial instruments to hedge against the worst-case scenario.
DeFi might seem more resilient than TradFi. And it is in many regards. Tt still carries risk though.
3F Mutual, one of the very first instruments developed by Hakka Finance, enables investors to be insured against the shutdown of MakerDAO, one of the backbones of Decentralized Finance. It is completely decentralized, and people insured during the shutdown will proportionally earn everything the insurance pool has collected since 3F Mutual has been created, which means about 2000 ETH as of now (!)
6- Burn your HAKKA and collect Hakka Guild Bank assets!
Last but not least, this is not exactly a way to make money per se, but rather a way to reallocate your assets.
Hakka Finance is a DeFi DAO, meaning it operates like a decentralized investment bank, owned by anyone anywhere who owns staked HAKKA.
But what is the intrinsic value of HAKKA tokens exactly? It is not just how valuable voting in the DAO is. HAKKA tokens represent a proportion of the Hakka Guild Bank, a vault collecting transaction fees paid by Hakka product users!
That vault is decentralized, so tokens can only flow in, with no way out, outside HAKKA burning! This means HAKKA’s intrinsic value can only increase!
So instead of selling your tokens, you may always burn your HAKKA and obtain the right proportion of tokens contained in the Guild Bank:
7- Find bugs and vulnerabilities on the Hakka Finance ecosystem!
Last but not least!
Finance and asset management are extremely sensitive topics and require the highest standards of security.
Hakka Finance regularly audits its smart contracts and source code.
However, it is never enough.
That’s why Hakka Finance has partnered with ImmuneFi to propose a bug bounty program, allowing whitehat hackers to earn up to US$1,000,000 if they find any vulnerability that puts users and investors at risk!
Start searching now!
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