What is HAPI Protocol (HAPI)?
HAPI is the native token of the HAPI Protocol, which is a cross-chain cybersecurity protocol. The protocol utilizes trustless Oracles to prevent any malicious activity and interruptions on the blockchain. Through the use of Oracles, HAPI is able to utilize both on-chain and off-chain data. In essence, the protocol embeds smart contracts into various DeFi protocols or decentralized exchanges (DEXs) and routes transactions through these contracts.
Talking about the ways HAPI Protocol can be used, first and foremost, it's a system where users can report any malicious actors and this way alert other users through the live-monitoring report and check interface (RCI) of HAPI. Users have to stake HAPI tokens to access this system.
Moreover, HAPI has a unique address-checking functionality, which allows users to check if there was any malicious activity related to an address they're about to interact with. In order to access this feature, users have to pay a fee using HAPI tokens.
Furthermore, as mentioned before, the HAPI Protocol smart contracts can be integrated into DEXs and DeFi protocols. However, the unique thing about it is that these contracts can be embedded directly into these protocols. The main task of HAPI's smart contracts is to help to prevent Money Laundering attempts.
Lastly, it's important to note that the HAPI Protocol has its own cybersecurity agency called HAPI Labs. The agency consists of security specialists who investigate cases manually.
Use Cases of HAPI Tokens
The HAPI Protocol token is based on the ERC-20 token standard. The main use case of HAPI is paying Data Providers for supplying data to security Oracles. However, besides that, HAPI has many more use cases, including:
- HAPI tokens are used to pay data submission fees.
- HAPI tokens are used to reward Oracles for data reviewing and auditing.
- HAPI holders have the right to participate in the governance process of the platform by voting on various decisions.
- HAPI tokens can be staked in order to generate rewards.
Don't forget to check the current HAPI price if you plan to purchase these assets. Use the HAPI Protocol price chart for doing that.
Who Founded HAPI Protocol?
The HAPI Protocol was developed by Hacken Foundation. It is a Ukraine-based cybersecurity consulting company. The founder of the protocol goes by the pseudonym Dona Mara.
Toknomics of HAPI
The max supply of HAPI Protocol crypto assets is 1 million. The distribution of the supply is as follows:
- 24% – team and partners;
- 43% – private sale;
- 3% – public sale;
- 12% – liquidity pool;
- 18% – farming rewards.
