LBank AMA Recap with HOKK

Date: 20/05/2021
Time: 20:00 UTC+8
Venue: LBank Telegram Chat Room https://t.me/LBank_en
Guest: Madpanda(Chief People Officer of HOKK)
Host: Alexei| LBank

Part1

Q1 In the crypto field there is a boom of projects with animals on logo. Why did you decide to take this path and don’t you afraid to get lost among dozens of other projects?

Guest: Meme coins also known as “dog coins” have have experienced explosive growth lately. They have also served as an on ramp into the crypto world, attracting newcomers to crypto.

We looked for a way to take advantage of the trend and to capitalize on its momentum to scale quick growth. If you look at software companies/tech giants, their #1 KPI is acquiring users. Users of their software or service. Users = revenue.

Synonymously, we look at “holders” as “users”. Our goal was and is to acquire as many “users” (holders) in the quickest possible way. We strategically achieved this and have grown to a user base of 50,000 holders in four weeks time.

Now that we have acquired a user base, we are focusing on bringing useful products to market. We are focusing on true utility. Do not let the doggy logo fool you.

In short, we are THE “meme coin” building true utility.

Q2 Tell us a little bit about security? Have you done an audit of the platform? Are the smart contracts error-free? What are the test results?

Guest: Of course! HOKK smart contracts have been audited by leading blockchain analytics firm, techrate(dot)org. We are also in discussions with Certik and another top auditing firm to audit our HOKKX utility token smart contract and our staking contracts that are near completion.

Q3: Liquidity, Transaction fees and slippage are always important factors in Finance services. How does HOKK solve the above problem to attract users?

Guest: We will be solving this with the launch of our utility token $HOKKX and staking. This will significantly increase liquidity which will in turn decrease slippage/price impact

Q4: What besides the token is included in your ecosystem and what are you working on now? will there be any platform releases in the near future?

Guest: $HOKKX Utility Token: This will deployed on main net within the next week. The purpose of $HOKKX is to power the HOKK Ecosystem and our future development roadmap inclusive of: HOKK Pay, HOKK Wallet, and HOKK Remit.

$HOKKX Utility Token will be airdropped to all HOKK holders and then be obtainable by staking HOKK (and some other coins). Staking HOKK will incentivize holding, it will decrease sell pressure and help increase liquidity.

HOKK Wallet: Think of the current wallets that many of you are using (trust, metamask, coinbase wallet or any other ERC-20 wallet). We are taking the good things from these wallets to create HOKK Wallet that will be a standalone wallet. HOKK Pay and HOKK Remit will serve as a layer/function within the wallet.

HOKK Pay and HOKK Remit: Our vision is to establish HOKK Pay and Remit as the MasterCard, Visa and TransferWise of the Global Payments and Remittance industry on the blockchain. We believe along with our partners that cryptocurrency and blockchain technology will replace traditional finance, as such we are positioning ourselves to be pioneers of crypto payments for goods and services.

Imagine going into a restaurant paying with HOKK Pay or doing your online shopping and paying with crypto through HOKK Pay or transferring funds from Sweden to Nigeria in seconds at a fraction of current costs, and doing this all through HOKK Remit.

Q5: What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?

$HOKKX Utility token and staking will generate the HOKK Finance Foundation revenue (in the near term) to fuel our development of HOKK Wallet, HOKK Pay and HOKK Remit.

We are focused on building utility and bringing a platform with products to the general public that they will adopt, love and use in the blockchain space.

This is also goes back to our vision and core focus:

to make payments and remittance affordable and accessible to underdeveloped economies, creating an inclusive financial system based on blockchain technology. Imagine being able to send remittances from developed economies to your diaspora at the fraction of the cost of traditional finance within seconds? This is HOKK Finance.

Generating revenue and monetizing our developments will come second. Utility comes first.

Part 2 (questions from tg group)

1. Marketing is an essential element of every project, so everyone knows the potential that a project can generate. What is your strategy to attract new users and investors and maintain it in the long term?

Guest: We have bought onboard a professional marketing firm to drive our Marketing growth. Stay tuned for big announcements regarding our legal structure Hokk Finance Foundation, partnering with a leading blockchain as well as a crypto brand manager.

1. Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes.?

Guest: Jokes aside the team with senior management experience consists of Doctors, accountants, web developers, mathematicians, marketing analysts, investment banker

2. How do you plan to spread awareness about your project in different countries where English is not spoken well?

Guest: Our team is multi lingual and multi cultural. We have Kenneth who heads our International Markets and is a native Chinese speaker and myself I speak both swedish and farsi(Iranian) language as well

3. What’s your motivation in making HOKK Token, and what we will see in future? How can token holders benefit with HOKK tokens?

Guest: HOKK is the store of value token in the Hokk Finance Ecosystem. By holding HOKK you generate ARF rewards, as well as we have created a deflationary mechanism which increases the rarity of $HOKK. $HOKK will also be the governance token for the Hokk Finance Foundation. We are also launching our utility token $HokkX and in order to qualify for the airdrop and initial farm offering you need to hold $HOKK.

4. Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?

Guest: Yes we did our first burn this week by burning $1M worth of tokens. This was funded by the team and whale investors! We will have more burns in the future as well as future revenue will be used to buy back and burn HOKK.

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