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Hats.finance tokonmics
Introducing $HAT

*Disclaimer

TGE and the liquidity mining were postponed. Updates will be announced soon.

TL;DR

  • $HAT is a governance token
  • 50% of the $HAT genesis supply is allocated to Hats community members.
  • $HAT tokens will be rewarded to users who join any Hats protocol bounty vaults.
Inspired by DeFi summer 2020 and Ethereum’s culture, Hats created a permissionless, scalable bounty network. Users, Artists, protocols, and investors can participate in Hats.finance - Cybersecurity marketplace.

Token allocation

The total supply is 10 million $HATs tokens with a 50% of these will be allocated to the community and the liquidity mining. The total token allocation breakdown will be as follows:
  • Investment round tokens - 18% of the total token supply. An 18-21-months vesting period starting on the 24th of November 2021. { 1,800,000 HAT’s tokens}
  • Partnership tokens - comprise 7% of the total token supply. 21-months vesting period starting on the 24th of November 2021.{700,000 HAT’s tokens}
  • Core team tokens - comprise 25% of the total token supply 21-months vesting period starting on the 24th of November 2021. {2,500,000 HAT’s tokens}
  • Community treasury tokens - comprise 15% of the total token supply. {1,500,00 Hat’s tokens|
  • Liquidity mining tokens - comprise 35% of the total token supply. {3,500,000 HAT’s tokens}

Liquidity mining

The total HAT Tokens for the 1st liquidity mining program will be 2,500,000.00, comprising 25% of the total token supply. The initial PPM(Protocol Protection Mining) program is not subject to vesting.
In the chart below, we present the emission rate of HAT tokens to depositors in the vaults. There will be a higher emission rate for early depositors as part of the 1st liquidity mining program.
*At its discretion, Hats governance can decide to replace the current liquidity mining program with another one as V2 and with the implementation of new protocol features.

$HAT token incentives:

When a depositor provides an asset to one of the incentivized bounty vaults they will be rewarded with $HAT’s tokens in proportion to her share in the vault, the amount of time her tokens are in the pool and the allocation points of the particular vault.

$HAT token uses

Governance:

  • HATs token is the voting weight in the governance(Hats governance might choose to require users tokens to be locked or staked in order to participate in governance decisions).

Farming:

  • The goal of the farming program is to Incentivize token deposits to the bounty vault, increasing the size of the vault while receiving $HAT’s rewards as a PPM (protocol protection mining) program.
  • Provide liquidity of HAT token on Uniswap v3 ETH<> HAT pool and get liquidity mining HAT’s rewards for locking your liquidity NFT.
  • We are also considering an additional incentive to the first 10-20 projects who will onboard the Hats protocol.

Hats security vault:

  • The Hats token vault, which incentivizes disclosure for the hats protocol, will also further incentivize Hats token locking . Similarly to Sushi and xSushi, successful disclosures made in any one of Hats vaults will distribute a certain % of the tokens to Hat token lockers. (Pending governance decision)

HATs token uses in the protocol

Each exploit that will be fixed and rewarded through the protocol will trigger a split function that will incentivize hackers, committees, and protocol participants to further use the protocol. The split function parameters can be set by the governance and their default is:
  • 60%: 30 days vested Vault tokens for (Hacker reward)
    • In order not to put high sell pressure on the rewarded token
  • 20% Vault tokens (Hacker reward)
    • Fungible tokens for immediate hacker use
  • 5% Committee
    • To incentivize committee resolution and triage of vulnerabilities reports.
  • 5% Converted through Uni v3 to Hats and vested for 90 days (Hacker reward)
    • To make the hacker invested in the protocol he had just added value to and to incentivise him to further disclose vulnerabilities through Hats protocol
  • 10% Converted through Uni v3 to Hats and sent to Governance
    • To incentivize the long-term sustainability of the protocol and its community needs.
Last modified 22d ago