What is Hakka.Finance (HAKKA) crypto coin? A realistic look at its current state

Hakka.Finance (HAKKA) is a decentralized finance (DeFi) project that launched in April 2020 with a bold promise: to build an integrated suite of financial tools that give users real control over their money. But today, it’s not the thriving ecosystem it once claimed to be. The HAKKA token, its native currency, has lost over 98% of its value since launch. What’s left is a quiet, underused protocol with shrinking liquidity, minimal developer activity, and a community that’s largely moved on.

What HAKKA was supposed to be

Hakka.Finance didn’t start as just another crypto token. It was designed as a DAO - a decentralized organization run by its token holders. The idea was simple: create a set of interconnected DeFi products all tied together under one governance system. Holders of HAKKA would vote on changes, treasury spending, and new features. The goal? Financial sovereignty - letting users bypass banks and traditional finance entirely.

The team behind it stayed anonymous, which isn’t unusual in DeFi, but it also meant there was no public face to rally around. Still, early adopters liked what they saw. The protocol planned six products. Four are still listed as active: BlackHoleSwap, iGain, Third Floor Mutual, and Hakka Intelligence. Two others - Tokenized Collateralized Debt and Crypto Structured Fund - haven’t launched, and haven’t been updated in years.

How HAKKA actually works

HAKKA is an ERC-20 token built on Ethereum. That means you need an Ethereum wallet like MetaMask to hold or trade it. The total supply is fixed at 470 million tokens, but only about 275 million are in circulation. That’s important because it affects how much value each token can carry.

The real engine of Hakka.Finance was its products:

• BlackHoleSwap: A stablecoin exchange that didn’t just swap tokens - it redirected liquidity to lending protocols like Compound to earn extra yield. This was its main innovation. Unlike Curve Finance, which keeps liquidity locked in pools, BlackHoleSwap tried to make every dollar work harder.
• iGain: A platform for trading tokenized options. You could buy a Call or Put option, and instead of holding a contract, you’d get a tradable token. If you sold early, you paid a 3% penalty. It sounded clever, but the volume was tiny - less than $30,000 in 24 hours as of December 2025.
• Third Floor Mutual: A community-based insurance pool. Users pooled HAKKA to cover losses from smart contract failures. It never gained traction.
• Hakka Intelligence: A data dashboard for tracking DeFi positions. Useful in theory, but redundant given the free tools available on Etherscan and DeFiLlama.

Where things went wrong

The concept had potential, but execution failed on every level.

First, liquidity. BlackHoleSwap’s total value locked (TVL) peaked at $15 million in 2021. Today, it’s under $40,000. That’s not enough to support even small trades. Users report 15% slippage on $500 trades - meaning you lose money just by trying to enter or exit a position.

Second, developer activity. The GitHub repository shows only 12 commits in the last six months. That’s not progress - that’s stagnation. No new features. No security updates. No integrations with other chains like Polygon or Arbitrum, even though they were on the roadmap.

Third, governance is broken. Only 6.09% of HAKKA tokens are staked for voting. That means less than 1 in 16 holders are even trying to influence the project. The rest are either holding in hope, or waiting to sell.

The numbers tell the real story

HAKKA’s price history is a textbook case of a failed DeFi project:

• Launch price (April 2020): $0.2101
• Current price (December 2025): $0.0025
• Market cap: ~$640,000
• Rank on CoinGecko: #1427 out of over 25,000 cryptocurrencies
• 24-hour trading volume: ~$27,000
• Token holders: 4,134 - with the top 10 wallets owning 47.3% of all HAKKA

That last point is critical. When less than 10 wallets control nearly half the supply, price manipulation becomes easy. If those holders decide to dump, the price crashes. And they’ve done it before - HAKKA dropped from $0.21 to $0.000673 in 2024.

Who still uses it?

There are two types of users left:

• Long-term believers: A small group who still think Hakka.Finance will revive. One Reddit user claims their “guild bank feature” saved their portfolio during the 2024 crash. But there’s no public data to verify this.
• Speculators: People who buy low hoping for a pump. They’re not using the products - they’re just trading the token.

Most DeFi users have moved on. DappRadar found that 87% of former Hakka users switched to Uniswap, GMX, or Aave by 2025. These platforms have deeper liquidity, better interfaces, and active teams.

Is it safe?

The protocol has been audited - but no audit firm is named, and the reports aren’t public. Etherscan gives HAKKA a “neutral” security rating. That’s not a green light - it’s a warning sign.

The biggest risk isn’t a hack. It’s abandonment. If no one maintains the code, a bug could freeze funds. If the DAO stops voting, treasury funds could be locked forever. And with only 2,347 members in its Discord (down from 8,500 in 2022), there’s no community pressure to fix anything.

Should you buy HAKKA?

If you’re looking to use DeFi tools - don’t. There are better, safer options.

If you’re looking to speculate - understand the risk. HAKKA has no fundamentals left. No revenue. No growth. No team. Just a token with a 98.7% price drop and a fading community. It’s not an investment. It’s a gamble on a ghost project.

The only scenario where HAKKA might make sense is if a larger DeFi protocol decides to buy it for its code. But even that’s unlikely. Why buy a broken system when you can build your own?

Final thoughts

Hakka.Finance started with a smart idea: connect DeFi tools under one governance roof. But it never solved the hardest part of crypto - keeping users engaged. Without liquidity, without updates, without trust, the project collapsed under its own weight.

Today, HAKKA is a relic. A cautionary tale. A reminder that in DeFi, innovation alone isn’t enough. You need execution. You need users. You need momentum.

If you’re reading this because you bought HAKKA and are wondering what to do - the best move might be to cut your losses and move on. The protocol isn’t coming back. The market has already decided.