HOKK Finance Whitepaper
HOKKFi is a multi-chain DeFi ecosystem centered around a blockchain oracle called Telegraph that makes cross-chain communication for smart contracts across multiple blockchains, both easily accessible and affordable.
Current blockchain bridge node networks keep their systems behind registrations and approvals, which in turn stifles innovation as smaller developers are unable to take their smart contracts to the next level.
With HOKKFi, developers will finally have a cross-chain bridge and ecosystem that they can integrate into their project with a few lines of code, with no registration required. Rather than downloading the full blockchain, validators will use external full node providers to communicate with the chains in question, keeping the validators lightweight and fast to set up.
In order to ensure that the number of network validators does not increase exponentially, the bridge will implement a one-time dynamic increasing fee for each new validator, paid in the ERC-20 version of the HOKK Finance ($HOKK) token. This is a non-refundable payment that locks the tokens indefinitely.
Validators will be rewarded with Telegraph tokens (MSG), which are linked to the fees generated from each successfully transmitted message. This resource will be an openly accessible/open-sourced ecosystem, a model which does not exist in bridges today.
Although the bridge is an openly accessible/pen-sourced ecosystem, HOKKFi is dedicated to improving and marketing the bridge with a portion of the generated fees going directly to a wallet controlled by our entity. Code updates made by this entity are not unilateral and would still require the approval of a majority of the validators. This ensures that the bridge continues to consistently grow without the fear of a hostile takeover by a malicious individual or group.
The HOKKFi ecosystem will have everything for the first time retail investor to crypto experts, capturing a sweet spot in the market where supposed decentralised players like FTX and Luna, were successful in branding, but poor in technicals.
HOKKFi will be the better alternative to DeFi players with a wider product approach and more cross-chain capabilities. The recent exodus of money in failed projects, represents trillions of dollars that will have to go to new players in the crypto market over the next decade. Only a handful of DeFi ecosystems that truly are decentralised will get it.
Our go-to-market strategy will target developers and retail investors introducing them to the ecosystem which will consist of staking, farming, bridging, swapping, loaning, NFT Tracking, and more – all under one roof. Once in HOKKFi, users have a simple and easy way to use their crypto the way they want to receive realistic APY, better rewards, in the most decentralised, transparent way possible.
The information shared in this whitepaper is not all-encompassing or comprehensive and does not in any way intend to create or put into implicit effect any elements of a contractual relationship. The primary purpose of this whitepaper is to provide potential investors with information in order for them to analyse the project and make an informed decision. Prior to your participation in HOKK Finance, we strongly advocate a careful study of this whitepaper. Certain statements, estimates and financial information featured in this whitepaper are based on and take into consideration certain known and unknown contingencies and risks which may cause the estimated results or may differ factually and substantially from featured statements or results extrapolated or expressed in such forward-looking statements here-with.