What is Hawksight (HAWK) and How Does it Work? | KuCoin Crypto Gem Observer

2022/04/20 01:00:00

The crypto space has evolved multiple times since the inception of Bitcoin (BTC) in 2009. One of the most remarkable changes came with the launch of Ethereum in 2015. The network became the first to make notable strides regarding smart contract development.

While Bitcoin’s launch made smart contracts a technical reality, Ethereum became the first to host flexible and complex smart contracts. This milestone allowed developers to create decentralized applications (dApps), which, in turn, gave rise to decentralized finance (DeFi).

The DeFi sector seeks to disrupt the global financial industry by removing the control that banks and other institutions have over money, financial products, and services. To achieve this, DeFi offers financial instruments like lending and investing between multiple parties without intermediaries.

Over the years, more blockchain networks emerged and implemented smart contracts, further expanding the ecosystem. In 2019, the sector only had $275 million worth of crypto collateral. The total value locked (TVL) in DeFi protocols has since grown to north of $125 billion.

However, the overall process of joining the burgeoning industry is complicated. Although many people are interested in joining the web3 version of banking, they lack the know-how to navigate the onboarding procedure.

To address this issue, Hawksight launched as a DeFi super-app that enables people to seamlessly earn yield from the DeFi protocols on Solana and Terra. Learn What Is Hawksight and How to Seamlessly Earn Yield from the DeFi Protocols by Subscribing to KuCoin YouTube Channel and Watching: https://www.youtube.com/watch?v=OnM674dr0SI

How Does Hawksight Work?

Hawksight runs on the Solana blockchain but has plans to offer cross-chain support, with the next immediate focus being Terra. The platform aims to democratize data-driven investments by simplifying the process of investing by automating DeFi strategies, while also helping users make smarter investment decisions using the super-app’s AI-driven trading signals, social signals, DeFi-NFTs, and GameFi utilities. Hawksight is backed by Solana Ventures & Terraform Labs to fulfill this multi-chain mission.

The project plans to achieve this milestone through its artificial intelligence (AI) engine, which offers over 200 technical indicators. Hawksight currently broadcasts profit-optimized trading and social signals to over 1.4 million people and institutions across the globe through web platforms, email, Telegram chatbot, Discord chatbot, and API.

To leverage the DeFi super-app, users only need to deposit $10 or more worth of USD stablecoin into the Hawksight platform. After depositing funds, users can discover top-performing vaults in which they can invest and farm for yields through profit-optimized strategies. These strategies enable users to profit from asset gains as well as yield.

The platform taps decentralized exchanges, including Serum, Raydium, and Synthetify, to let users access a wide range of assets. Additionally, the platform offers this wide-ranging asset selection at low fees. The icing on the cake is that users can deposit or withdraw funds anytime.

Hawksight offers users the flexibility to invest in vaults based on their risk-return profiles and preferences. The platform’s users also get an elevated sense of security, seeing as Hawksight’s non-custodial model allows them to retain full ownership and control over their assets.

The Hawksight DeFi app has undergone multiple internal and external audits to ensure high security. On top of this, the platform features a dedicated insurance fund to protect user assets against potential attacks.

What Makes Hawksight Unique?

To set itself apart from other web3 projects, Hawksight created Debonair Degen Hawks, the most powerful DeFi utility NFT on the Solana blockchain. The project has the backing of Solana Venture and Terraform Labs.

Debonair Degen Hawks holders will enjoy multiple perks. These include access to AI-powered signals and NFT social signals, boosted DeFi yield on Hawksight Solana and Terra vaults, NFT staking rewards, and rarity-based $HAWK token airdrops.

The NFT holders will also get access to HawkDAO, which seeks to crowdsource strategies and create a revenue stream for NFT holders and DAO treasury to fund vault expansion.

Through Debonair Degen Hawks NFTs, Hawksight creates value through strong demand and utility instead of hype or engineered tokenomics. Moreover, the $HAWK token features a deflationary design to ensure its value increases over time.

The $HAWK token will serve as the base currency within the Hawksight ecosystem.

$HAWK’s functions include incentivizing investors to pump funds into top-performing vaults, motivating creators to create top-performing vaults, offering staking rewards and discounts, providing stakers access to premium features, and enabling decentralized governance.

Who Created Hawksight?

The Hawksight team comprises over 15 members across Singapore, the Philippines, Indonesia, India, and the United States. Lorenzo Ampil and Bradian Muliadi are the project’s co-founders. Ampil serves as Hawksight’s CTO, and is a former Uber data scientist who moved to AI consultancy and built AI software for global financial institutions.

On the other hand, Bradian has co-founded several social analytics startups, one of which was acquired by a publicly listed Southeast Asian conglomerate, and another has scaled to mature profitability in 50+ countries.

Closing Thoughts

Through its DeFi super-app, Hawksight helps make the DeFi ecosystem easily accessible for people that once considered the onboarding process a daunting task. Additionally, the project’s Debonair Degen Hawks NFTs and the deflationary design of the $HAWK token help create demand and utility-driven value to attract more users to the platform.

These capabilities make Hawksight a revolutionary project that has the potential to make DeFi mainstream.

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