AMA Session: New Hacken Strategy - What to expect in 2022
The Hacken team would like to share with you the recap of the recent AMA session with Hacken CEO Dyma Budorin. This AMA was devoted to discussing questions concerning the new Hacken Strategy 2022. In this document, we have outlined the key growth directions for Hacken and our main goals. We realized that the release of this document would boost your interest. That is why our CEO Dyma Budorin decided to explain in detail every important point mentioned in our strategy to ensure that our community is fully aware of our plans for the future and supports us in our movement towards leadership in the Web3 cybersecurity market. So, read and find valuable info on what to expect in 2022 for Hacken.
What about your plans concerning relocation to the UAE? Have you already opened HQ there?
“We have opened a legal entity there, we have strong partners there and, honestly, for the last 3 months, I have spent more time in the UAE than in Kyiv.”
Did you meet CZ in Abu Dhabi?
“Yes, I did. It is a strategic step forward for Hacken to have a representative office in the UAE, while for CZ, UAE is probably the only proper choice for the location of headquarters.”
But for HAI to be listed on any large exchange, the crypto market needs to be in a better position, right?
“Agree with you. However, when we look at the recent People DAO case, we see that poorly prepared listing can cause more damage than benefits.”
Do you have any information on the extra 100M tokens that have been just added to the HAI circulation?
“Of course. You have mentioned the unlocked 100M HAI. These assets used to be locked for 1 year. I already sent 25mln and 25 mln for new locks according to the Hacken Strategy.”
How will the B2B concept look like? Will corporate clients buy licences in dollars and Hacken will lock them in HAI, or do corporate clients really consider buying Hacken products via HAI? In other words, what is the role of the HAI token in the new direction Hacken is taking in the B2B segment?
“B2B focused strategy means growing our revenues. Our expectation is that the Web3 security market will eventually become bigger than Web2.
If we compare stocks of publicly traded companies and native tokens, we can see that tokens have much greater utility and value but, of course, you all want us to take concrete steps.
The first step towards building B2B utility is to enable audits pre-payment in HAI. Investors and projects will be able to exchange their purchased HAI for smart contract auditors engineering days.”
Would you consider HAI AUDIT Utility directly on Smart Contract (Code) level? Just like LSS Prevention Utility is embedded into SCs of Lossless customers.
“We didn’t want to officially disclose our revenues but we announced our approximate market share and our estimation of the current market size and its growth projections. The idea was to encourage our community to make some calculations.
I remember one case related to the Chinese crypto exchange that took place around 1 year ago. At that time, the HAI price was around 2 cents. The exchange paid us for the audit in HAI and then in 3 days the price pumped to 10 cents. They immediately requested cash back, so our approach to manage such risks is to introduce the security engineer days value element.”
Is Hacken involved with the release of VeUSD? If yes, what about its impact on the HAI token?
“No, we are not involved. We were suggesting Vechain to issue a stable coin more than 1.5 years ago, that is a fundamental step for the Vechain ecosystem. I am sure it will have a positive impact on all Vechain projects.”
What is the status of Hacken involvement with Re:water? They have announced the private sale.
“Hacken is working on security of Re:water apps and blockchain, there will be a few functional utilities for HAI. The final strategy for the Re:water launch is to postpone it until the product is ready since, as you can see, the market is full of promises for gamefies and metaverses. So, a bit more patience.”
Every year a new price protection level is set and it is backed by Hacken fiat revenue. When will Hacken set the new price protection level?
“Price protection level is not set every year. First of all, it depends on our development. Upon accomplishment of current goals such as top tire crypto partnerships, B2B utilities, and Re:water, we will see what will be our next price protection level.”
Will we see trading and swap functionalities in HackenAI? What about Simplex integration in the app, such as the one available on the website?
“The swap function is already in the roadmap. Regarding Simplex, it is a much more difficult case since Apple does not allow in app credit card payments, unless they go through Apple Store. However, there are rumours that the situation will change in 2022.
Getting new users to buy HAI through the app is an additional step, it is better to bring them to the Hacken Foundation website to buy HAI.”
What are the steps Hacken is going to take to ensure simplicity and improve user experience for customers? Competitors have live lookup of pending & completed audits, clearly show all their service portfolio in a single place etc. At the same time, Hacken has splitted it into CER, HackenProof, Hacken Scout, HF, each with its own website.
“CER is currently under huge reconstruction. We are going to release unprecedented for the industry set of data.
I personally don’t like to publicly share info about ongoing audits cause it may create a wrong opinion on clients’ intentions. For example, we may find critical vulnerabilities, they will not fix them before the token launch, and then, when a rugpull event occurs, investors will lose money.
The hacken.io website is also under reconstruction. In December 2021, we hired 3 new marketing specialists and another 3 will join us in January. Another important point is that we are working on the migration from Telegram to Discord.”
Last year, we announced working relationships (“Partnerships”) with top exchanges like FTX, Huobi, etc. — Why don’t these CEXes list us? Is it difficult to get in or is Hacken itself holding back?
“Indeed, 2021 was the year of big partnerships. The work we performed helped us to build reputation, establish strong connections, and ensure proper growth of reserves.
In 2022, we will make a greater focus on marketing. We still have so many unused bullets with all our B2C apps and network opportunities. Listing on exchanges gives access to big markets and for sure we will be there. But the question is whether to spend 1mln USD in Q1 2022 on top exchange listing or use these assets for a massive influence marketing campaign?
There is lots of work ahead to restructure our community and create new users funnel before applying for top exchange listing. I want to see at least 5 times bigger community than we have right now.”
What are Hacken’s competitive advantages over Certik, Quantstamp, and Hackless? And, in contrast, what can Hacken learn and implement from these competitors?
“I guess it is too early to put Hackless on this list but I respect and admire all our competitors and it is not ethical to say that we are better than others.
But I can tell you what steps we will take to win the market, 10 main steps are specified in our Hacken Strategy 2022.
I strongly encourage to read this document and share it with your friends.”
What are your HAI price prediction for the end of the year?
“Higher than now.”
Dyma, what is your number one advice for newcomers on how to stay safe in this crypto world?
“Don’t be afraid and be proactive with money you afford to lose and, of course, never use margin trading.”
What about the NFT market and the Metaverse? How soon will we get on and what companies will we see there?
“OneArt is there.”
How is the new Hacken Strategy different from the current model? ATM many of us feel that Hacken may be a profitable company but, besides farming, HAI lacks utility.
Will the model you suggest change the status quo? Do customers prefer to pay in HAI? Why? We as investors want Hacken to come up with greater utility for its token. We know the business is good, but what about becoming a publicly traded company then?
“It will definitely bring more utility. Also it is a proper pitch to our wide network of partners. In 2021, we partnered with 60+ venture funds for priority audits and it worked well because we had very straightforward proposals for partnership, priority audit, and referral fees. Now we will offer additional discounts and the same priority audits.
Regarding the question about the publicly traded company, my vision is that eventually top crypto projects will become public. Regarding utility, we are working on allocating the first batch of HAI tokens to Hacken DAO, these are plans for 2022.”
What’s the point of doing marketing first if there are few sites to buy? For example, KuCoin and Gate.io, and then only bots. People do not want to register once again on a new exchange to buy tokens. Big exchanges will promote marketing themselves.
“First of all, more than 50% of crypto users have an account on Gate.io or KuCoin. Our target is to explain the potential of WEB3 cybersecurity and the steps we are going to take to win the market. If the potential investor, after understanding our message, doesn’t want to open an account, then he is not our target audience. However, I don’t say that we should not work hard to get there. Binance is still my personal number one task.”
Question regarding hPass: does it use AES 256-bit encryption or something other then that?
“We use AES.pbkdf2 algorithm.”
Could you please define the engineering hours a bit further in what you mean for the payment?
“We follow fixed engineering hours rate for security audits scoping, that is a basic industry standard now.
Investment funds and clients will be able to exchange their HAI for security engineers days and use them to pay for their future audits. If HAI price increases, then they will be able to exchange back previously purchased hours into HAI (with a small penalty that will be burned).
So, for investment funds it is a smart investment opportunity. They are basically investing in a valuable utility that they can further reinvest. We will approach all our partners and investors with this opportunity”
As we can see, our community members asked a lot of questions regarding HAI perspectives, Hacken B2B and B2C visions, our strategic plans related to listing on top exchanges, etc. Dyma Budorin shared with you valuable info about our ambitions. A great scope of work is ahead for Hacken, it is true. So, we heavily rely on your support, our wonderful community. You are the key determinant of our success. Together with you Hacken will become a leading player in the Web3 cybersecurity market.
Find more updates at Hacken’s resources:
Telegram Ru: https://t.me/hackenclub_ru
And Hacken Foundation website: https://hackenfoundation.com/