HOKK Finance’s latest product elevates the token from its meme coin competitors, confirming its place as a leadingdecentralized finance (DeFi) solutions provider.
Copenhagen, December 23, 2021. HOKK Finance(HOKKFi), one of the original meme tokens that peaked at an $800M market cap in May 2021, announces its release of HOKK Premium to the public on January 31, 2022.HOKK Premium is an aggregator that enables users to place their ETH into smart contracts that relay the tokento aggregator contracts (like YFI) that then lend out the ETH to earn the user a passive income, subject to terms and conditions.
The release comes hot on the heels of HOKK Finance’s announcement of its launch of a collection of utility NFTs to be released on January 10th, and governance token, $TREATS, on January 17th. The soon-to-be Dubai and Singapore-based meme token offers a collection of 4444NFTs that can be used in its financial portal, HOKKFi, a decentralized ecosystem with products and services that replicate legacy finance, but are built on a blockchain. These are just a few of the products that HOKK Finance will deliver, representing a bold and innovative step towards being a powerful meme token DeFi 2.0 player.Mark Basa, Global Brand and Business Manager at HOKKFinance, explains how HOKK Premium will heighten the potential for $HOKK token holders to have complete agency over how they send and spend their crypto.
“HOKK Premium will enable us to grow alongside DeFi 2.0 juggernauts, whereby users can do more than just purchase and hold a token with their crypto. Some of these enormous DeFi platforms such as YFI have brilliant brands that reach crypto natives, whereas we want to attract people who are less familiar with crypto, which we can achieve through the brand equity we’ve built around our meme token. We’re aiming to connect our users with these established DeFi platforms, introducing our youngeraudience that resonate with our fun and creative brand, while also granting crypto natives that hold our token the opportunity to use all of their crypto in a single space, whilst implementing and preserving an equitable and proportionate access to information for every client, irrespective of their portfolio size.’’According to Basa, HOKK Finance is developing a Meme-Utility® that cultivates fun and exciting ways for users to make their ETH work for them. With ETH’s strong forecast ahead, Basa predicts a massive demand for HOKK Premium as institutions increasingly invest into Ethereum. “With HOKK Premium, we’re now ready for the next 10 years of global crypto adoption that will be led by Ethereum. To be first in the meme token market, we need to attract novice crypto users and give everything we can tocrypto natives, as well as engaging in industry leadingcompliance and adequate due diligence processes. We must, then, continue to launch products like HOKK Premium.’’ HOKK Premium enables users to select preset lockup durations and calculate their estimated monthly yield. The aggregator contracts earn yields that can be claimed periodically and converted to stablecoins to maintain theirvalue. HOKK Premium users can also view their initial ETH contribution, the annual percentage yield, the current yield, and their portion of ETH in the total pool.
The launch sees HOKK Finance take a bold step into the nascent DeFi space by creating products that challenge traditional banking. DeFi refers to a system that makes financial products readily available on decentralized blockchain networks. At present, the technology is being deployed in areas such as lending, prediction markets, decentralized exchanges, derivatives trading, liquidity mining, and yield farming, amongst other uses.
DeFi loans, one of the primary applications of the technology, allow users to loan cryptocurrencies to borrowers. For this to succeed borrowers must provide enough collateral to deposit in smart contracts. There are a great many advantages to this: in particular, a censorship-free domain means that no lender is given preferential treatment.
Leaving aside those who are bullish on ETH, Basa believesthat HOKK Premium will only support the meme token’s overall goal of becoming the number one meme token with a wide range of utilities.
“We believe that winning the hearts and minds of both early and late crypto adopters has to be done by demonstrating that this game is long-term, and that we’re prepared for it. We want to be able to say to people thinking about entering the crypto world that we’re going to do everything to win this race, through utility.’’
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