Blockchain technology has revolutionized the financial landscape in the past decade. Offering decentralized products based on distributed ledger technology, it has brought about the development of novel products that has transformed how we think about finance.
Despite the success achieved within this period, mainstream adoption is still a problem for the industry. This is because some of the financial products developed are complex to use and others do not have real life applications beyond investors speculating on their prices.
In a region like Africa where financial inclusion is very low, it is important that blockchain products are able to offer easy features and services required by the populace.
HaggleX seeks to improve on the existing financial infrastructure while harnessing the power of blockchain technology.
What is HaggleX?
HaggleX is a multi-currency blockchain-based exchange that offers users a secure financial ecosystem for trading, lending and borrowing. It also solves the problems of financial inclusion by offering users utility services whereby products can be purchased within the platform.
Furthermore, HaggleX adds some features of decentralized finance and allows users to save their digital assets and also plans to add staking features. The project has quickly amassed a decent following and has representatives in over 12 countries globally.
HaggleX offers a peer-to-peer trading where buyers can connect sellers across different locations supported by the exchange. Traders are able to perform transactions of cryptocurrencies, giftcards and other digital assets within a safe and secure environment without the requirement of a third party.
HaggleX P2P trading platform is unique as it offers an encrypted chat engine where traders can interact with verified merchants and partners. Unlike other P2P exchanges, HaggleX places emphasis on security and offers an escrow system built on a smart contract to ensure funds are kept safe.
The smart contract only releases the asset in custody when the seller confirms receipt of payment from the buyer. An effective dispute resolution system is also in place to ensure that funds are allocated to the right person during disputes.
Remittance Payment System
HaggleX staying true to its aims offers a remittance system where users can send and receive money globally. Users can send money to each other within the HaggleX platform and receive it within minutes.
Since it is built on the Ethereum blockchain, HaggleX is able to handle a large number of remittance transactions without congestion problems.
Utility Payment System
HaggleX offers utility payment services on its platform and users can pay for local utility services. This includes purchasing airtime, settling electricity bills and many more.
Utility payments are also offered in different currencies including fiat, BTC,ETH,EOS and HaggleX utility token HAG.
Staking and Mining
HaggleX incorporates decentralized finance features which keeps it on pace with the latest developments in the crypto industry. Users will be able to use its native token HAG to receive rewards and bounties offered by the HaggleX ecosystem.
Also, HaggleX plans to introduce HaggleX Defi where users will be able to Lend and borrow on the HaggleX smart contract. Staking is also a key aspect for HaggleX and users will be able to stake BTC,ETH,EOS,HAG on supported pools for possible returns.
HaggleX wants to revolutionize the concept of saving by introducing its Crypto Piggy Bank called BITSAVE. BITSAVE incentivizes you to save your crypto assets on the HaggleX smart contract and receive impressive returns on your savings.
HaggleX has designed the saving feature with extensive features and options geared towards standing out from its competition.
HAG Token (The Fuel Of HaggleX)
HaggleX is powered by its utility token HAG. HAG is an Erc-20 token that offers immense rewards to users that perform transactions on the HaggleX ecosystem.
The token incentivizes users by offering discounts on products offered on the HaggleX platform. HAG tokens are also designed towards offering users the very best of crypto 2.0 (lending,borrowing,staking and Saving).
Users can get up to 55% discount in transaction fees when they stake HAG tokens. HAG has a supply of 1,000,000 tokens.
The token distribution is as follows:
ICO: 50% and Project Development 50%
This distribution suggests that the team behind HaggleX is focused on creating a vast ecosystem for the blockchain product.
Verdict (An Excellent Project With Great Potentials)
HaggleX is a project that appears to be well thought about and does not engage in unrealistic promises that are common within the crypto ecosystem. The project also features some of the top blockchain stakeholders in Africa which adds legitimacy to it.
What we like is the ability to partake in decentralized finance features such as staking, lending and saving. The P2P exchange is also a great one and the remittance payment system has the potential to increase financial inclusion in Africa.