Hacken Token

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Discover Hacken Token's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Hacken Token?

Hacken Token (HAI) is a work-to-earn, product-utility, and governance token that supports the Hacken ecosystem. It incentivizes community members to contribute to building trust and transparency in Web3 through various utilities such as the Trust Army, HackenProof, and Hacken Extractor. HAI is also the governance token in hDAO, allowing holders to vote on proposals and participate in decision-making processes.

How is Hacken Token used?

The Hacken Token (HAI) is a utility token that serves multiple purposes within the Hacken ecosystem. It is primarily used for transactions, including payments for security services and rewards for ethical hackers. Here are some key ways HAI is utilized:

  1. Work-to-Earn: HAI is a work-to-earn token, incentivizing users to participate in tasks and activities that contribute to building trust and transparency in Web3. For example, users can earn HAI by completing tasks on the Trust Army platform, which involves researching and collecting Web3 data.

  2. Product Utility: HAI is used to access various products and services within the Hacken ecosystem. For instance, it can be used to purchase subscriptions or memberships, which offer discounts and enhanced features.

  3. Governance: HAI is a governance token, giving holders voting power in the decentralized autonomous organization (hDAO). This allows community members to participate in decision-making processes and shape the direction of the project.

  1. Bug Bounty: HAI is used as a reward for ethical hackers who identify security issues on the HackenProof bug bounty platform. Companies can set up rewards in HAI, and hackers can earn extra rewards by using HAI coupons.

  2. Smart Contract Monitoring: HAI is used to pay for services on the Hacken Extractor, a decentralized smart contract monitoring security solution. Businesses can benefit from HAI-based subscriptions or Hacken Membership, which offer discounts of 20-30%.

  3. Tokenized Equity: HAI is also linked to tokenized equity shares of Hacken, allowing holders to exchange HAI for Hacken Equity Shares (HES). This innovation brings a new level of connection between the token and the real-world business.

Overall, the HAI token is designed to promote fairness, transparency, and community engagement within the Hacken ecosystem, while also providing a range of practical utilities and incentives for users.

How do I store Hacken Token?

To store Hacken Token (HAI) tokens, you have several options:

  1. KuCoin Account: You can store your HAI tokens in your KuCoin account, which provides quick access to trading products like spot and futures trading, staking, and lending. Ensure you set up a strong password and upgrade your security settings to prevent unauthorized access.

  2. Non-Custodial Wallets: For enhanced security, you can withdraw your HAI tokens to a non-custodial wallet, such as hardware wallets, Web3 wallets, or paper wallets. This grants you complete control over your private keys, but you must store them securely to avoid losing your tokens.

  3. Crypto Wallets: You can store your HAI tokens in crypto wallets like Trust Wallet or Binance Wallet. For long-term storage, consider using a cold wallet for added security.

  1. Cold Wallets: Cold wallets, which are offline, are the safest way to store your tokens. There are two types of cold wallets: paper wallets and hardware wallets. Paper wallets are generated offline and printed for secure storage, while hardware wallets are physical devices that store your private keys securely.

Choose the method that best fits your needs and security preferences.

How to buy Hacken Token?

To buy Hacken Token (HAI) tokens, follow these steps:

  1. Choose a Centralized Exchange (CEX):

    • Register on a CEX that supports Hacken Token trading, such as KuCoin, gate.io, or MEXC Global.
    • Verify your identity and secure your account with two-step verification.
  2. Buy a Base Currency:

    • Use fiat to purchase a base currency like USDT, ETH, or BNB on the CEX.
    • Ensure the CEX supports OTC trading for the base currency.
  3. Transfer Base Currency:

  • Transfer the purchased base currency to the CEX that supports Hacken Token trading.
  1. Buy Hacken Token:
    • Use the base currency to buy Hacken Token in the spot market.

Alternatively, you can use a decentralized exchange (DEX) like 1inch, which supports Trust Wallet. Here's how:

  1. Set Up Trust Wallet:

    • Download and set up Trust Wallet on your desktop or mobile device.
  2. Buy Ethereum:

    • Buy Ethereum on Binance and transfer it to your Trust Wallet.
  3. Choose a DEX:

  • Select a DEX that supports Trust Wallet, such as 1inch.
  1. Connect Wallet:

    • Connect your Trust Wallet to the DEX using your wallet address.
  2. Trade Ethereum for Hacken Token:

    • Select Ethereum as the payment and Hacken Token as the coin to buy. If Hacken Token doesn't appear, find its smart contract address on Etherscan.io and paste it into the DEX.
  3. Swap:

  • Click the Swap button to complete the transaction.

Remember to be cautious of scams and ensure you have the official smart contract address.

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History of Hacken Token

Hacken Token (HAI) is a cryptocurrency that plays a pivotal role in the cybersecurity domain. Established in 2017, Hacken has evolved from a white-hat hacking startup into a trusted blockchain security auditor, offering a range of services including smart contract audits, penetration testing, and incident response support.

Key Features and Functionality
  • HackenAI Ecosystem: Hacken Token is integrated into the HackenAI platform, leveraging blockchain technology to ensure secure transactions, data fortification, and real-time vulnerability assessments. Users can unlock various services by holding Hacken Tokens, contributing to the platform's ongoing advancements.
  • Work-to-Earn and Governance: HAI is a work-to-earn, product-utility, and governance token managed by a decentralized autonomous organization (hDAO). It allows users to gain skills, a profession, and a stable income by contributing to building a transparent Web3.
Price Performance and Market Position
  • Current Market Position: Hacken Token has a market capitalization of around $29.6 million and a circulating supply of approximately 645 million HAI tokens.
  • Price History: The token has experienced significant price fluctuations, with an all-time high of $0.4707 in November 2021 and an all-time low of $0.002468 in May 2020.
Recent Developments
  • Tokenization of Equity: Hacken has tokenized 10% of its equity, allowing HAI token holders to exchange their assets for Hacken Equity Shares (HES). This move aims to bring more accountability and transparency, establishing a tight connection between the token and the business ecosystem.
Future Outlook
  • Expert Insights: Many analysts anticipate a bullish price prediction for Hacken Token, driven by the increasing adoption of cybersecurity solutions and the expansion of the blockchain sphere.
  • Strategic Goals: Hacken aims to evolve into a publicly traded company in the future, blending equity and token capitalization for a pioneering model.
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How Hacken Token works

The Hacken Token (HAI) is a multifaceted cryptocurrency that serves several purposes within the Hacken ecosystem. Here's a detailed overview of its functions and how it works:

Work-to-Earn Token

HAI is a work-to-earn token, allowing individuals to earn by contributing to the transparency and security of Web3. Users can earn HAI by researching blockchain data and participating in various activities that promote trust and transparency within the Web3 community.

Product-Utility Token

HAI is also a product-utility token, which means it has practical uses within the Hacken ecosystem. For instance, it can be used to purchase products and services, such as subscription discounts, and to access exclusive benefits like voting power and extra APY for decision-making.

Governance Token

As a governance token, HAI holders have a say in the direction of the Hacken project. They can participate in decision-making processes and influence the development of the platform through voting mechanisms.

Tokenomics

Hacken's tokenomics are designed to promote fairness and transparency. The tokenomics are deflationary, meaning that the supply of HAI is reduced over time, which can help maintain the token's value. Additionally, the tokenomics are utility-first, focusing on providing real-world value to users rather than solely relying on speculation.

Tokenization of Equity

Hacken has tokenized 10% of its equity, allowing HAI holders to exchange their tokens for Hacken Equity Shares (HES). This move makes Hacken the first crypto company to enable its community to own part of the real business. Each HES is valued at 1 million HAI, and 100 shares are available at varying fiat prices due to asset volatility. This strategic move aims to bring more accountability and transparency while establishing a tight connection between the native token and the business ecosystem.

Investment Opportunities

HAI offers various investment opportunities, including a synthetic asset backed by Web3 security experts. This provides a price-protected investment option for investors. Additionally, HAI holders can participate in the Community Private Offering, which allows them to become equity holders and gain access to classic exit options like future Public Offerings or Equity Buybacks.

Security and Partnerships

Hacken is a trusted blockchain security auditor with a strong track record of serving top DeFi players, blockchain protocols, centralized exchanges, and traditional enterprises. The company's strategic goal is to evolve into a publicly listed company, blending equity and token capitalization for a pioneering model.

In summary, the Hacken Token (HAI) is a multifaceted cryptocurrency that combines work-to-earn, product-utility, and governance functions. It is deeply integrated with the Hacken ecosystem and offers various investment opportunities, including tokenized equity and synthetic assets.

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Hacken Token's strengths

The Hacken Token (HAI) has several strengths that contribute to its value and potential:

  1. Decentralized Governance: HAI is managed by a decentralized autonomous organization (hDAO), which ensures community involvement and decision-making in the token's development and direction.

  2. Work-to-Earn Mechanism: The token is part of the Trust Army, allowing users to gain skills, a profession, and a stable income by researching blockchain data and contributing to building a transparent Web3 ecosystem.

  3. Product-Utility: HAI is used for transactions within the Hacken ecosystem, including payments for security services and rewards for ethical hackers. This utility provides a tangible use case for the token.

  1. Tokenization of Equity: Hacken has tokenized its equity, allowing HAI holders to exchange their tokens for Hacken Equity Shares (HES). This move brings more accountability, transparency, and a direct connection between the token and the company's business ecosystem.

  2. Strong Partnerships: Hacken has collaborated with numerous prominent blockchain projects, DeFi players, and traditional enterprises, further solidifying its position in the industry.

  3. Security Focus: As a blockchain security auditor, Hacken's services include smart contract audits, penetration testing, and other cybersecurity solutions, which are essential for the growth and adoption of blockchain technology.

  1. Growing Community: With over 100,000 community members, Hacken has a significant user base that contributes to its ecosystem and supports the token's development.

These strengths collectively contribute to the token's value and potential for growth, making it an attractive option for investors interested in the blockchain security and Web3 sectors.

Hacken Token's risks

Hacken Token (HAI) carries significant financial risks. According to InvestorsObserver, HAI has a high risk score due to price volatility in relation to volume changes over the past 24 hours, indicating that the token can be easily manipulated. This volatility makes it a high-risk investment, which may result in substantial losses for investors. Additionally, the token's value is subject to market fluctuations, further increasing the risk of investment.

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Did Hacken Token raise funds?

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Hacken Token’s team

  • Denys Ivanov: Founder of Hacken, with a background in auditing, having worked at Deloitte and held top managerial positions. He saw an opportunity to bring trust and ethics to the growing Web3 space and gathered a team of talented individuals to create Hacken.

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