Meet HAPI: Tokenomics
HAPI — An Introduction to the Revolutionary Cross-chain Product
HAPI is a new product entering the Hacken Foundation, a leading security consulting company specializing in blockchain security.
HAPI is a set of cross-chain smart contracts embedded into DeFi products allowing them to reach a higher security level. Its oraclizing and DAO system delivers SaaS in the DeFi environment that prevents hack attempts.
Get protected against stolen funds
Connecting to HAPI, every Centralized exchange (Coinbase, Binance) can receive information on hacks where coins are stolen and block those stolen funds from entering their exchange until the situation is resolved.
HAPI also works for Decentralized exchanges (Uniswap, Sushiswap). By using the HAPI smart contracts and oracle, they gain the possibility to reject requests from suspicious addresses to prevent money laundering and stop hackers dead in their tracks.
Get protection against unaudited smart contracts
By connection to HAPI, both Centralized and Decentralized exchanges and DeFi platforms will be able to guard themselves and their users from projects that have not completed security audits to mitigate financial and reputational risks that could come from insecure smart contracts.
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
HAPI is the first project to be launched by the Hacken Foundation (HFoundation).
HFoundation will lead business development for HAPI security oracle protocol, while HAPI founding dev team will focus on the code development.
The HAPI tech team has passed in depth due diligence by Hacken.
Dyma Budorin, CEO Hacken:
“The level of HAPI founding team’s blockchain and cybersecurity expertise is sufficient to deliver complex solutions. We have evaluated past experience as well as the integrity of the team and can conclude that the HAPI project is in the right hands. We assure the Hacken community that we embed all needed controls to ensure timely and quality delivery of all HAPI commitments”.
Dona Mara, Lead HAPI:
“We are really excited to become part of the Hacken Foundation and help create the DeFi space a safer place for all. We thank the Hacken Foundation for all their trust and support so far and we look forward to integration our solution into the first exchanges this quarter”.
A must step to enter HFoundation is Hacken token HAI utilization.
HAI token is an exclusive and the most beneficial entry gate to HAPI. HAI holders will be able to stake and earn HAPI through a cross-blockchain staking platform in the future.
Follow the announcement for more details on the HFoundation’s vision and development plan.
The HAPI token is an ERC20 token minted on the Ethereum blockchain.
Key utility of HAPI is to circulize between data submitors and security oracles.
Users stake HAPI tokens to be able to participate in the projects governance. The governance is conducted by a voting procedure. The voting involves staking HAPI tokens to support or reject voting proposals.
HAPI holders in fact act as the whole DeFI industry security arbitres. Selecting the trusted oracles defines the direction and the speed of crypto mass adoption.
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.
Every transaction to be submitted in the Security oracle database will require HAPI tokens that would be further sent for Oracles review work.
The Data Provider determines the final price according to the demand for the off-chain resource and similar information supply.
Key HAPI utilities
- Data submission fee. Provides rights for the customer to submit any information connected with the hack or suspicious wallet.
- Governance. Provides governance rights for the Users (DP election by DAO). Each HAPI token stakeholder can participate in governance conducted by a voting procedure. The voting involves staking HAPI tokens to support or reject voting proposals.
- Oracle rewards. Serves as a payment method to Oracles for the review and audit work done on the submitted data.
- DeFi projects audit report submission. DeFi projects will legitimize their code by submitting it to a unified audit reports data centre.
HAPI token distribution
HAI community members are the main beneficiaries from the HAPI project entering HFoundation.
HAI holders have a unique opportunity to enter the HAPI project at the most beneficial price.
HAPI token will also become exclusively available for farming by staking HAI on the HFoundation cross-blockchain staking platform.
How will the tokens be unlocked?
HAPI Token Sale
Total Supply: 1,000,000 HAPI.
There will be three rounds of HAPI token sales.
The total number of tokens for sale is 480,000 HAPI.
Round #1 — HAI round
Our most exclusive and valuable round is reserved and held specifically for the Hacken community using HAI tokens. The price for the community is $5 per token. 240,000 HAPI tokens will be sold. The initial unlocking will represent 10% of the purchase amount and 10% monthly.
Joining the HAI round is simple. You send HAI (VIP180 VeChain) tokens from your address to the address that will be specified in the 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 up for two years.
Max amount per 1 VeChain address is 500,000 HAI.
Oversubscribed HAI would be returned to HAI holders proportionally.
Round #2 — Private round
The private round is held in ETH for strategic partners. The price for this round is $ 7.5 and 180,000 HAPI tokens will be sold. The initial unlocking will be 15% of the purchase amount and then 10% monthly. Minimum lot is 50k usd equivalent. Maximum is 100k USD.
Round #3 — Public round
The public round is held in ETH. The price for this round is $10. 60,000 HAPI tokens will be sold. The initial unlocking will be 20% of the purchase amount and 12% monthly.
Creating a Liquidity Pool
80,000 HAPI tokens and the corresponding amount of ETH at the public round price will be locked in the HAPI/ETH pool on Uniswap. Lock term is one year.
Farming HAPI token
200,000 HAPI tokens will be farmed over three years using HAI token staking. The accrual system is proportional. The farming system is uniform.
We will announce the starting date of the first round exclusive for HAI holders soon.
HAPI — The First Step For Hacken Ecosystem Transformation.
HAPI is the first project to enter the Hacken Foundation, and is a significant first step for Hacken’s transformation into a strong ecosystem. More information about the HAPI token sale rounds will be available and released in our social media channels as well as the HAPI Telegram Group.
Much more is planned in the Hacken ecosystem and we can’t wait to reveal more in our development pipeline. Stay tuned!