Place/Date: - July 15th, 2021 at 2:44 pm UTC · 3 min read
Contact: AscendEX, Source: AscendEX
HAPI, launched in 2021, by a developer known as Dona Mara, offers a set of cross-chain smart contracts designed to provide real-time data on stolen funds and compromised wallets.
HAPI tries to solve cybersecurity issues in the (DeFi) space by using an on-chain security protocol that creates trustless oracles. A set of cross-chain smart contracts embedded into DeFi products can allow for an increased level of cybersecurity. HAPI is decentralized – the HAPI DAO selects the primary data provider of the data connected with the fraud (stolen funds, hacked wallets) and the smart contract audits. It supports cross-chain solutions for some of the most popular blockchains such as Ethereum, Solana, Polkadot and more.
Oracles can create notifications when any particular smart contract has been audited which will help to increase the security of DeFi projects and guard them and their users against financial and reputational risks.
The HAPI token acts as a transferable unit of value that also serves a subset of specific functions, utilities, and general intercommunication between the users of the protocol. There are a variety of token use cases worth mentioning, the first being data submission. This feature of the token provides the ability to submit any information connected with the potential hacker attack or suspicious wallet address. The token is also used for oracle payments, meaning any transaction made in the security oracle database for audit review requires HAPI that serves as a payment method to Oracles. Users can also stake HAPI as a governance token to participate in the project governance by electing Data Providers. HAPI is also used during the submission of a DeFi project audit status to a unified report center to prove that they passed a security check.
HAPI as a protocol focuses on providing solutions that create new cybersecurity standards for DeFi and CEX markets by providing real-time data on stolen funds and compromised wallets.
At the beginning of June 2021, the HAPI team created the game changing IDO platform BocaChica officially powered by Solana for Solana based projects.
AscendEX (formerly BitMax) is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.
AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.
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HAPI is a cross-chain protocol, aimed at creating new cybersecurity standards for DeFi and CEX markets by providing real-time data on stolen funds and compromised wallets. HAPI tries to solve cybersecurity issues in the DeFi space by using an on-chain security protocol that creates trustless oracles.