HAI-ETD 2.0: Market Buys, Liquidity Adds, and Burns
Last year Hacken released the first cybersecurity stablecoin that bakes time for auditors’ teamwork — ETD (Engineering Team Day). It delivers HAI as a B2B utility, connecting the Hacken business services with the HAI token. B2B clients and partners purchase HAI from the market, convert them into ETD and use it as payment for Hacken.io services and products.
In fact, a Web3 cybersecurity market leader with 1,200+ clients and $9+ million in annual revenue merges its business success with its token.
ETD Utility
ETD prospective holders are VC companies, cryptocurrency accelerators, L1 protocols, and blockchain companies that require numerous smart contract audits to maintain operations securely.
For 1 ETD, they get 1 workday from a Hacken Auditor team of 4 people. Its price is $4,500, representing the expenditures of this team workday. The total amount of ETDs is limited to 1,000 due to the Hacken scheduled workload and person-day available in a year.
Introducing Innovative ETD 2.0 Smart Contract
ETD 2.0 purchase, minting, and usage models became much more mature to transfer all B2B success into HAI value. To reflect community and client feedback, we have designed an ETD 2.0 smart contract that allows clients to buy ETD at a fixed HAI/USDT price.
Innovative ETD solution merges Hacken business growth success with 3 pillars of successful tokenomics:
- The organic market buying process
- Permanent liquidity growth
- Deflationary tokenomics.
The new HAI Tokenomics will provide a stronger connection between Hacken.io and HAI ecosystem growth.
The main ETD 2.0 improvements are:
- The option to buy ETD at a fixed price in USDT
- HAI price impact through automated HAI buying from the market
- HAI liquidity growth, impacted by prepayment proceeds through ETD purchasing in USDT
- Deflationary tokenomics through automated HAI burning
Find the scheme describing ETD with USDT purchasing below.
#1 — Fixed Price for ETD Acquired with USDT
ETD 1.0 allowed a business client to purchase ETD with HAI for further usage as a service payment, creating a straightforward HAI utility. What is new — now he also had the option to buy ETD directly with USDT alongside bringing more value to HAI. HAI price is fixed at the current market price before the ETD acquisition.
#2 — Automated HAI Market Buying
ETD smart contract automatically uses 66% of received USDT to purchase HAI at a Decentralized Exchange. That creates ultimate utility with funds paid for B2B service.
#3 — Automated HAI/USDT Liquidity Adds
Half of the acquired HAI (33% from ETD cost) with the remaining USDT (33% from ETD cost) are automatically added to the Decentralized Exchange HAI/USDT liquidity pool.
#4 — Automated HAI Burning
Half of the acquired HAI (33% of ETD cost) is automatically burned.
#5 — hDAO Role for ETD 2.0 Budgets
ETD uses hDAO Treasury to fill ETD swap back budgets — ETD-HAI Treasury.
Description of automated treasury transfers:
- Clients send USDT to ETD smart contract
- The ETD-HAI Treasury is deposited with HAI from the hDAO Treasury for a USDT equivalent amount
- Clients receive ETD, which is 100% backed by ETD-HAI Treasury
The initial amount in hDAO Treasury available for ETD acquisitions is 10 mln HAI. Further add-ons are subject to hDAO voting.
#6 — The Client Can Swap ETD Back in HAI with a 10% Fee to Be Automatically Burned
If the client decides to swap ETD back into HAI, he can easily do it in 1 month after purchase. In this case, a 10% commission will be applied and automatically burned.
Values for ETD Holders
ETD 2.0 is a risk-free derivative for Hacken clients, partners & crypto funds as it provides a fixed price for auditors’ time regardless of the market changes.
From the holder side, ETD allows to keep HAI or freeze its value in Web3 engineers’ labor time.
Hacken continues inventions in HAI tokenomics by implementing product-based utilities. We are the first company to merge B2B success with token market buying, liquidity growth, and deflationary tokenomics in one risk-free derivative. We believe that ETD 2.0 sets industry standards for tokenomics and will create a path for HAI sustainable development for years ahead.
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