Decentralized Finance ecosystem Hakka Finance to launch a new derivative trading platform based on DeFi interest rates: iGain IRS
iGain IRS (Interest Rate Synth) will empower crypto lenders and borrowers to hedge against fluctuating interest rates on major DeFi platforms.
Taipei — January 17th 2022 — Hakka Finance, a Decentralized Autonomous Organization (DAO) specialized in developing financial instruments for the crypto world, has today released its latest product in date, iGain Interest Rate Synth (IRS).
Record sums have been pouring into the fast-growing DeFi sector over the last year as investors are looking for returns afforded by lending, borrowing, and trading via Decentralized Finance protocols like Aave or Compound. A trend that is predicted to continue over the current decade.
With iGain IRS, crypto users will be able to cover their positions against floating interest rates on those DeFi platforms by purchasing Long and Short tokens.
Not only does this platform bring an end to uncertainty and set cost limits for borrowers, it also enables lenders to guarantee a minimum level of income in the event of a downturn in interest rates.
Besides, to fuel the platform pool, Liquidity Providers may add funds and earn trading fees and other rewards by purchasing LP tokens.
iGain IRS is powered by the same technology as Hakka Finance’s other option trading platform launched in 2021, iGain Impermanent Gain. Only the underlying asset (DeFi Interest Rates VS Impermanent Loss) will differ.
More iterations of iGain might appear in the future, based on new types of underlying assets, according to Lucien Lee, Hakka Finance’s Chief Executive Officer: “iGain can be used for any financial concept. That is the reason we are building iGain for Interest Rates. But anyone in the $HAKKA community can submit new ideas of which financial asset can be used on iGain. You would be rewarded for your contribution and even more if the community votes for it.”
iGain IRS is now available to users on: https://igain.finance/irs
About Hakka Finance ($HAKKA)
Hakka Finance is a Decentralized Autonomous Organization operating on the Ethereum blockchain via a native token named $HAKKA. This token is used to vote and decide on governance proposals for the Hakka Finance ecosystem.
It officially launched in August 2020 and was founded by Ping Chen, from Taiwan. Currently, Hakka Finance comprises a suite of various financial instruments including BlackHoleSwap, Third Floor Mutual, Hakka Intelligence, iGain Impermanent Gain, and most recently iGain Interest Rate Synth.
