HakkaFinance
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HakkaFinance

Hakka Finance AMA Recap: May 2022

Yesterday, we had our 5th AMA (Ask Me Anything) for the year on Discord, and we were joined by around +40 people from the Hakka Community.

  • We announced beforehand that our deposit promo on iGain IRS will be extended until May 22, 23:59 UTC.
  • We also mentioned about the new round of Hakka Intelligence, wherein you would have to predict the price of Bitcoin ($BTC), Solana ($SOL), Polygon ($MATIC), and… DogeCoin ($DOGE)!

After the brief announcements, we then proceeded to answer the questions from the community one by one. Here are some of them:

1. When can we expect the new staking on Polygon? Will vesting, lockups, and voting power be the same?

We’ll try to ship Polygon staking this May!

HAKKA vesting, lockups, and voting power will exactly be the same across chains!

2. Will we still have staking on Ethereum or will it shift to Polygon? Will we need to bridge it?

We will provide multichain staking. You can stake on BNB Chain, Ethereum mainnet, or Polygon at the same time, but no in-house bridging. Multichain is what you can use at the moment: https://app.multichain.org/#/router

3. Will Hakka NFTs and Galaxy OATs be incorporated in the future governance, in an effort to improve participation in the DAO?

Yes, but first, it will be used to drive proper user engagement and education regarding the Hakka ecosystem.

Hakka Finance is an ecosystem that can seem a bit complex at first sight, but NFTs have the power to make Web3 and DeFi users learn bit by bit. DAO participation will be the ultimate goal.

4. What are your plans for users to know and use iGain IRS more in the future?

We will expand iGain IRS to more networks! Just last week, iGain IRS became available on Yearn on the FTM network.

5. When will HAKKA be launched on Fantom?

It is since today! The first HAKKA farming pool on Fantom will be launched as well.

6. Can you please explain what are the advantages of the new Yearn Protocol on iGain IRS?

On iGain IRS, using Yearn, you only need to deposit… and that’s it!

The Short tokens that are used to hedge and fix your APY are automatically bought in, without having to shell out an additional amount in the protocol, unlike with Aave on Polygon Chain.

7. What is your team’s plan for the losses in the broader crypto market, like, what happened in the last few days?

Our roadmap does not depend on the market weather; we just keep building. In fact, our products, like iGain IRS, are built for that kind of market conditions.

We all have seen what happened with Anchor, promising 20% APY from stablecoin deposits. That is just unsustainable. With iGain IRS we ensure that people can make money from their stablecoins in a fixed and secure way. Rates are lower, but they are guaranteed and not subsidized, because they are based on derivative contracts.

8. Does Hakka Finance plan to have a stablecoin?

We do not plan to launch our own stablecoin.

But our products like iGain IRS allow you to earn with fixed interests in the most popular stablecoins such as DAI, USDC, and USDT.

9. What is the main advantage of this project and what is the purpose of entering Project Galaxy?

Project Galaxy is a great acquisition channel because it tends to attract web3 and DeFi users. It’s a way to introduce who we are in a playful way. We plan to leverage on the Galaxy ecosystem much much more in the coming months!

10. How much you have adhered to your white paper and schedule so far?

Regarding iGain, we are on track so far and we plan to expand even more because the iGain ecosystem will be our focus, to revolutionize the derivative market, which wasn’t really on the previously published schedule.

Also, our roadmap includes Structured Fund, but it will not be so much our focus.

11. I have some OATs which I got during AMAs. How can I make use of this?

Yes, we do! We will announce later in the year what those OATs will be for, but they will carry many more benefits inside our ecosystem!

For instance, you may use the GAINER OAT to get +10% HAKKA reward when you join our on-going deposit promo.

12. What are your goals?

Our goal is to build the most comprehensive DeFi ecosystem to allow anyone anywhere to reach financial sovereignty!

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Hakka Finance

Hakka Finance

A DeFi ecosystem with remarkable products administered by the HAKKA token.