Know more about HAPI utility token, its distribution, upcoming token sales, and ties with the Hacken Foundation.
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HAPI is a set of cross-chain smart contracts designed to revamp the security level of DeFi products. Our HAPI Oracle coupled with a decentralized autonomous organization (DAO) is a revolutionary SaaS solution that prevents hacker attacks in the DeFi universe.
Diverse use cases
HAPI has several big use cases that make it a huge interest for all players be it a DEX, CEX, or any DeFi project. Read on.
CEXs protected from accepting stolen funds
If connected to HAPI, any CEX like Coinbase or Binance will be warned in case stolen funds are deposited on their platform. An exchange will be able to block those funds until the situation is resolved.
DEXs cut back on suspicious addresses
With the HAPI smart contract and the Oracle DEXs like Uniswap, Sushiswap will be able to identify suspicious wallet addresses and reject any transaction request to prevent money laundering.
Crypto traders warned on high-risk coin
With a decentralized security audit database DEXs and CEXs can access info on whether the specific smart contract has undergone security audit. If not audited, the crypto exchange can notify the trader on possible risks or even impose a limit for buy/sell order amount, or restrict any operations with such high-risk tokens.
What are the key features of the HAPI?
HAPI has been build in a way that allows easy implementation in numerous use cases:
- Cross blockchain solution — suits most popular blockchains (Ethereum, VeChain, Polkadot etc.)
- Provides real-time publically available data
- New security standard for Blockchain industry. DEXs, lending protocols, derivatives protocols, and other DeFi all of them will use HAPI
- Increases security of the DeFi projects substantially
- Guards (mitigate) DEX aggregators, DeFi platforms and their users from the financial and reputational risks
- Receives the data from providers elected by DAO/community
Ties with the Hacken Foundation
HAPI is the first project to be launched by the Hacken Foundation (HFoundation) which will manage business development direction for HAPI. The HAPI tech team has successfully passed an in-depth due diligence by Hacken and will focus on developing a product itself.
HAI community members will benefit most from this collaboration during our first token sale round. HAI holders will be able to stake and earn HAPI through a cross-blockchain staking platform in the future.
HAPI utility function
HAPI holders serve as DeFI industry security arbitrators shaping the direction and the speed of mass crypto adoption.
HAPI is the ERC20 token minted on the Ethereum blockchain that empowers the HAPI protocol. The key utility function of $HAPI is to circularize between Data Providers and security Oracles.
The Data Provider determines the final price according to the demand for the off-chain resource and similar information supply.
Read on to find out about other utility functions.
Data submission fee for the right to submit any information connected with the hacker attack or suspicious wallet address.
Governance. Token holders stake HAPI to be able to participate in the project governance via electing Data Providers which involves staking $HAPI to support or reject voting proposals.
Oracle rewards for the review and audit work done on the submitted data. Any transaction made in the security oracle database for audit review requires HAPI that serves as a payment method to Oracles.
DeFi project audit status submission to a unified report center to prove that they passed a security check.
HAI token holders are also able to stake their tokens to receive HAPI tokens as a reward. The total supply of HAPI token increases over time following an inflation model (see below). This supply is accumulated and distributed among HAI token holders as long as they have their tokens staked. One can vote by staking with his or her HAPI tokens.
HAPI token distribution
HAPI is an ERC20 utility token, meaning that it can be stored in any wallet that supports ERC20 tokens. According to HAPI’s token model, $HAPI 1M will be minted at the genesis and will have the following distribution:
Upcoming token sale details
The total token supply is $HAPI 1M, with $HAPI 460K offered in three token sale rounds.
HAI round
Our most exclusive and valuable round is reserved and held specifically for the Hacken community. $HAPI 240K will be offered at the price of USD 5. The initial unlock schedule equals 10% from the purchase amount and 10% monthly.
How to participate: send $HAI (VIP180 VeChain) from your address to the address that will be later specified in sale details. Tokens will be credited to a similar address on the ETH network. You will receive detailed instructions on how to open a wallet with the same address in the ETH network.
50% of all HAI tokens collected on the sale will be burned immediately. The rest will be locked for two years.
Maximum amount per 1 VeChain address is $HAI 500K.
Oversubscribed HAI would be returned to HAI holders proportionally.
Private round
The private round will be held in ETH for strategic partners. $HAPI 190K will be offered at the price of USD 7.5. The initial unlock schedule is 15% of the purchase amount with 10% monthly later on. Minimum amount is USD 50K, maximum is USD 100K per one wallet address.
Public round
During the public sale, we will offer $HAPI 30K at the price of USD 10.
Creating liquidity pool
$HAPI 120K and the corresponding amount of ETH at the public round price will be locked in HAPI/ETH pool on Uniswap for one year.
Farming HAPI token
$HAPI 180K will be farmed over three years via HAI token staking. The accrual system is proportional. The farming system is uniform.
$HAPI unlock schedule
There is an unlocking schedule each month over 10 months (we will share the exact date of the unlock later, after the last sale round).
HAPI is here to disrupt the whole DeFi world, in a good way. Don’t miss out — stay tuned in on our updates in the Telegram group. Just join us and see what will happen!
