Insurance Mining & Reward Pools v4
Introduction of Third Floor Token (TFT)
We are proud to announce that 3F Mutual finally launched on Sep 19th! The insurance units will expire after a certain timeframe. The insurance shares are able to keep receiving dividends until the MakerDAO shutdown occurs, but are not transferable.
Today, we introduce an extension of 3F Mutual: Third Floor Token (TFT).
TFT Token Address: 0xBdDa9670Bc2a672c36ccE0102ce8C69B12E9deE3
TFT is like a souvenir of using 3F Mutual. TFT is an ERC-20 token. If you have purchased 3F Mutual before, you have free TFT tokens. What you have to do is to claim your TFT tokens by visiting the website: https://rewards.hakka.finance/3fmutual.
You are able to claim the same amount of TFT tokens as the amount of ETH you spent on purchasing 3F mutual. For example, if you have purchased insurance with 3 ETH, you can claim 3 TFT right after the purchase.
TFT is not an insurance policy but merely represents how many ETH you spent on purchasing the insurance.
In other words, if you purchase 3F Mutual right now, you get free TFT tokens.
To grab TFT tokens, you have to claim it.
However, TFT will have no utility if we merely create a token and do nothing with it. Therefore, we would like to introduce HAKKA Reward Pool #5. Anyone who has purchased 3F Mutual insurance can stake the claimed TFT into Pool #5 and earn the HAKKA reward.
You can earn TFT by purchasing 3F Mutual or receive it from someone who has previously purchased. However, we would like to underscore that TFT merely represents a pledge of the number of ETH that was used to purchase 3F Mutual, and does not hold any intrinsic value. TFT can only be used for liquidity mining in pool #5 at this time.
There will be 1,500,000 HAKKA reward/week for Pool #5.
The reward of Pool #5 will start from 13:37 Sep 24th, 2020 (UTC).
Reward Pools in the 4th week
According to the poll of HIP-10, part of the amounts will be deducted from pool #1, pool #2, and pool #3. Consequently, 300,000 HAKKA will be distributed to pool #1. 600,000 HAKKA will be distributed to pool #2. 1,500,000 HAKKA will be distributed to pool #3. Pool #4 will remain 500,000 HAKKA/week as we announced before.
For your information, (Pool #1: 300,000 HAKKA/Week; Pool #2: 600,000 HAKKA/Week; Pool #3: 1,500,000 HAKKA/Week; Pool #4: 500,000 HAKKA/Week; Pool #5: 1,500,000) is the liquidity mining allocation in the fourth 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.