Financial Statements of Hakka Finance v2
Quarterly Update for the HAKKA Community
Dear all the HAKKA fans,
We are very lucky to have such a strong community consisting of each and every one of you. Every one of you is very important to us. We are committed to our community and dedicated to providing radical transparency. To achieve it, we will update recent developments and financial statements quarterly.
Not only Team Hakka, but all HAKKA token holders are stakeholders of our organization: Hakka Finance. It is our duty to create a sustainable revenue stream for Hakka Finance in order to further build a remarkable DeFi ecosystem. In order to achieve this mission, we promise to work diligently in developing our products.
v2 Financial Statements (Dec 2nd, 2020)
After the first quarter since the launch of Hakka Finance, we have earned ~$416,547.44 USD. This data is from the GuildBank of Hakka Finance: 0x83D0D842e6DB3B020f384a2af11bD14787BEC8E7.
There has been approximate ~$110,000,000 in volume traded on BlackHoleSwap as of now. After the HIP-11, we are now taking a 0.01% fee from each swap, and the revenue of BlackHoleSwap is ~$5680 (BHSc$).
According to the IIP, we will use 10% of the total ETH revenue from the protocol to purchase MKR. 3F Mutual has earned ~463 ETH and ~241 MKR for us.
With these two products, the intrinsic value of HAKKA is now ~$0.00065 (416,547.44 / 635,982,513), and will quickly rise as more people use our products. It’s a good start but is apparently not a satisfactory figure. Team Hakka appreciates all the feedback from the community. After an internal discussion, we have decided to make some big changes to improve Hakka Finance.
Hakka Token Distribution
<1> Liquidity Mining
As we announced in the former financial statements, we have burned the Hakka token that will not be used by Mar 2021. However, according to liquidity mining schedule, the scheduled mining allocation amount by the end of the 13th week would be 93,273,889.86 HAKKA. However, we have only released 41,100,000 HAKKA. Around 52,173,889.86 HAKKA is owed to be distributed.
<2> Ecosystem Fund
The following chart is the list of ecosystem fund we released so far. There will be still 127,952,980 HAKKA available to be distributed by Mar 2021.
We will continue to focus on building remarkable DeFi products and improving the performance of Hakka Finance.
We at HAKKA wish you all the best.