2nd Project Review: Hakka Finance
Project Background and the farmer logo.
This is an interesting project named based on the dialect group of the team, Hakka. I had done research about this project to understand more. The team members are from Taiwan, and the logo design is also very Hakka-spirited, a farmer as the logo. Why farmer as a logo you may asked? Hakkas mostly worked for or owned tea leaves plantation back in olden days China. Furthermore, Hakka people are well know for hardworking and entrepreneurship. Hakka Finance consists of an assortment of financial products under its wing, creating a one-stop ecosystem for the benefits of all its users. the financial products includes DEX stable coin Automated Market Maker, insurance gaming product, liquidity mining pools and handbook of DEFI.
Key Hakka Finance product assortments.
DEX stable coin Automated Market Maker - BlackHoleSwap
An automated market maker swapping mechanism designed for stable coins, built in with lending protocols that utilizes borrowing and leveraging. One key advantages of BlackHoleSwap over its competitors' offerings is a higher capital utilization through its highly liquidity pool of having the lowest price slippage.
Insurance gaming product - Third Floor Mutual (3F Mutual)
A collective Insurance instrument for risk control, that resembles mutual aid, allows any users to pay affordable insurance premium to hedge against Maker Dao bearish performance. Users will received compensation for losses should there be a major bear market crisis in crypto industry. The price of premiums and claims amount will vary according to market supply and demand.
Hakka Team and Road Map accomplishments
The team founder is Chen Ping, who is an experienced dApp developer with the Ethereum community for more than five years, contributor to Ethereum community and holds regular meetups with core members of Taipei Ethereum ecosystem. Ping had also been involved in DEFI for more than a year, expanding the products/dApps on the Hakka Finance ecosystem. He had built a strong and experience team that are committed in the development and evolution of Hakka Finance. According to their roadmap, they are currently in off chain voting system, they are working towards phase 3 of their road map, which is on chain voting system and building resilient grassroot community that can exercise its rights with sound acumen to carry on the good work of the Hakka Finance, so that the core team can handover the baton to the grassroots community to run the show.
My views on Hakka Finance
Overall very promising project with good team credentials, I like the one-stop financial product offerings under Hakka Finance. the insurance product is very thoughtful and well implemented. the future of Hakka Finance is bright, with a strong core development team spearheaded by one of the top developer in Ethereum community, we will see more and more innovating dApps releasing on Hakka Finance. Grab a piece of the pie and don't miss out... or should I said, grab your bowl of Hakka Thunder Tea Rice while stocks last.... haha
