Hakka Finance AMA Recap: May 2023
May 17, 2023 (14:00 UTC)
Robert: Hi everyone, and welcome again to our monthly AMA, this time we’re doing it here on Telegram (obviously)!
Before we start, let me just remind everyone of the current campaigns that you can freely participate in:
- AMA OAT —regular Monthly AMA OAT which can be claimed by joining Telegram and tuning in to this AMA.
- Hakka Play-to-Earn Missions — We have ongoing missions to finish, where you can be rewarded with OATs.
- iGain IRS Stablecoin Terms — we recently launched 2 stablecoin terms on iGain IRS, mainly USDC and DAI as voted by the community on Snapshot. These terms are set to expire on Sep. 30.
- Hakka Farming Pools —since we’ve launched 2 stablecoin terms on iGain IRS, we have also launched 2 farming pools on Hakka Finance, where you can farm your USDC and DAI LP tokens in exchange for a 4-digit APR HAKKA token reward.
- Shitcoinmon — stay tuned on Hakka’s newest product. More Shitcoinmons will be revealed soon!
- NEW Hakka Intelligence Round — we just launched a new Intelligence round where you can bet on the price movements of SHIBA, DOGE, FTT, ALPACA, BNB, and BUSD.
Anyway, we are now going to jump on the AMA proper, and we’ll start with the first question: When will we get another level of Play-to-
Earn (Level 3)?
Sheraf: Later in the Summer! Two missions will be launched, along with the first exclusive gift for the first Level 3 users. In a sense, it is linked to the future launch of Shitcoinmon.
Robert: Any updates on Shitcoinmon, particularly in minting/rarity ratings, battling mechanics, and tokenomics) ?
Sheraf: Ping and I ,as well as some of our engineers, are currently working on it.
Some Shitcoinmons NFTs will be rarer to mint than others, and therefore will be more valuable not only in the game but also as an NFT if you would like to sell it to someone else.
We’re also introducing mechanisms so that players will not end up minting with the same Shitcoins and diversify the metagame as well as the game treasury.
Once everything is ready we’ll explain that in detail on Medium as well as in the game itself.
Some of the details that we can already reveal to the public is that Shitcoinmon’s power will depend on how hard it has fallen from its all-time high (ATH).
But another parameter to consider is its ATH market cap: the bigger the project failure, the stronger the Shitcoinmon. This means you can’t just pick an obscure project that has fallen 99%. The failure must be of epic proportions and must concern projects with large market caps.
It will be possible to mint a Shitcoinmon by using multiple shitcoins at the same time to combine their powers.
Lastly, to prevent fraud you will not just be able to mint any shitcoin created out of thin air. The game will be based on a whitelist of around 100 Shitcoins duly vetted and verified.
Robert: Will some part of the minting contract include a contribution to the Guild Bank?
Sheraf: Nothing official for the moment since it’s under discussion.
But it is likely that the Shitcoinmon minting contract will have its own treasury and that the relationship it will have with the Hakka Guild Bank will be in the form of retroactive airdrops.
Robert: Any other potential benefit to Hakka holders?
Sheraf: We have not yet decided. We’ll keep you posted about it!
Robert: And for our last question: we would love to get the team’s opinion on MKR’s Endgame Proposal.
Sheraf: Ping said, “Let’s wait and see!”
Hakka Finance | iGain Website | Twitter | Discord | Telegram | Wiki | Jobs
