Introducing stablecoin pegged to auditors’ time – $ETD by Hacken

Hacken has developed the new B2B HAI utility that will act as a Web 3.0 cybersecurity stablecoin backed by auditors’ time – $ETD (Engineering Team Day). It will be a risk-free investment in cybersecurity that will also have the profit-making feature. 

Time is the most valuable asset in the economy that is not volatile at all, 1 hour is always 1 hour. 

ETD description 

ETD is a cybersecurity stablecoin for corporate players that covers 1 work day of the Hacken team of auditors. ETD is used to pay for Hacken smart contract audits. 

The price of ETD is fixed in USDT and paid in HAI. The amount of HAI to be paid is determined at the time of purchase. You can purchase ETD several times, they will be grouped by the HAI price. 

The regular price of ETD is 5,000 USDT. 

ETD is the limited edition stablecoin. There will be only 1,000 ETDs available for sale. 

ETD value for holders

ETD performs the basic functions of a stablecoin for companies for whom cybersecurity is a key day-to-day operation while acting as an investment for every Web 3.0 project.

ETD Functionality: 

  • Holders can swap their ETD back to HAI whenever they want/need, only 10% burning commission will be applied. They will get the same amount of HAI as they used at the time of purchase (minus commission). Thus, if HAI price moves up, an ETD holder can make a good profit;
  • ETD allows an investor to freeze the audit cost at the time of purchase. Thus, if, for example, the price of an audit increases, it will not affect ETD holders. Their ETDs will still equal 1 workday of the Hacken audit team. This feature is extremely beneficial for ETD holders since the cost of labour in the blockchain space will experience further growth due to rising demand for skilled blockchain developers, QA specialists, etc. The higher the cost of labour, the higher the price of smart contracts audits, there is a direct dependence; 
  • ETD gives a holder a guaranteed priority queue. If you need an audit, just contact the Hacken team and we will start the audit process as soon as possible. No need to wait long weeks between application and the audit start;
  • Holders can transfer their ETDs to other projects/investors without any extra fees. For example, your project does not need an audit but your partner considers applying for this security testing procedure. After you transfer your ETDs to your partner, he can use them to pay for smart contract audits by Hacken. 

ETD performs the key function of a stablecoin – preserving value. At the same time, it is a more secure investment option for corporate clients since it is backed by the most valuable asset that is not subject to volatility – time. 

The Value of ETD for Hacken community

ETD will act as a new competitive advantage for Hacken. It will allow us to increase the level of customer retention while reaching new clients. Investing in ETD is a reasonable decision even for those companies that do not urgently need a cybersecurity audit. Thus, we are expecting that the release of ETD will lead to the rising demand for HAI pushing its price up. 

What’s wrong with existing stablecoins?

The rising popularity of stablecoins has raised numerous questions regarding their stability. For example, the market capitalization of Tether is $82B. It’s more than the GDP of Bulgaria, Croatia, Slovenia, Lithuania, and many other countries. However, when looking at the company’s LinkedIn. we can see that the company Tether employs just 31 employees. According to its website, Tether’s reserves consist of commercial papers, treasury bills, cash & bank deposits, precious metals, corporate bonds, etc. But there is a problem. There is no confirmation that Tether owns all these assets. It is the problem attributable to all fiat-based stablecoins. 

You may argue that there are other types of stablecoins such as crypto-collateralized and non-collateralized stablecoins. The former are not stable by definition since they are backed by other cryptocurrencies that are volatile while the latter are subject to human errors since they are governed by a sovereign. 

Thus, there is no guarantee that stablecoins are really stable.

How does ETD differ from simple audit certificates? 

ETD is a liquid asset. As mentioned above, you can easily swap it back to HAI. Also, ETD does not have any expiration date. But the most important advantage is the possibility to make a profit when HAI price jumps. 

Limited offer for first investors

The first 250 ETD are available to investors at the price of 4,500 USDT. So, don’t postpone your investment in ETD. Remember that cybersecurity is digital healthcare. 

Buy ETD right now: https://etd.hackenfoundation.com

For more information about Hacken and our recent news/updates, please refer to these channels:

Hacken Club Twitter | Hacken Club Discord | Hacken Medium

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