"Hacken Revolutionizes Share Ownership with Tokenization and Plans for a 2027 IPO"

"Hacken Revolutionizes Share Ownership with Tokenization and Plans for a 2027 IPO"
Photo by Bernard Hermant / Unsplash

Hacken has announced a groundbreaking move in the realm of shareholder equity by initiating the tokenization of its capital stock. In a significant development, the company has allocated 10% of its shareholder equity for this purpose, allowing HAI token holders to exchange their tokens for shares at a ratio of 1 million HAI to 1 share. Additionally, Hacken has revealed its intention to go public with an Initial Public Offering (IPO) scheduled for 2027.

As a leading blockchain security auditor, Hacken's announcement marks a pioneering step towards integrating the digital currency community with tangible business ownership. According to a statement released to Incrypted by the organization, the introduction of Hacken Equity Shares (HES) offers native HAI token holders a unique opportunity to convert their digital assets into a stake in the real business, thereby becoming the first cryptocurrency company to offer such an option to its community members. The tokenized shares, amounting to 10% of the company's capital or 100 HES, have been issued on the Ethereum blockchain as tokenized stocks.

The exchange rate set for HES to HAI is 1 to 1 million. Hacken has noted the availability of tokenized shares at various fiat prices, considering the high volatility in the market. Furthermore, the company has committed to burning 87% of the HAI tokens received through this process. It's important to note that there are currently 645.7 million HAI tokens in circulation, as reported by CoinMarketCap.

This strategic move towards tokenization is part of Hacken's broader strategy to become a publicly-traded entity. The initiative is aimed at enhancing transparency and accountability, fostering a closer relationship between the native token and the business ecosystem. It presents investors with the opportunity to diversify their portfolios by adding a decentralized token linked to a real-world business, potentially reducing risks and enhancing stability.

Hacken has also outlined its plans for the future, which include launching an authorized secondary market following the tokenization round, exploring options for shareholders to exit the company through share buybacks during subsequent investment rounds, and achieving a strategic goal of conducting an IPO by 2027.

Brickken serves as the technical partner for this project, with tokenized Hacken shares now available on their platform for all traders who have completed KYC verification.

Dmytro Budorin, co-founder and CEO of Hacken, stated, "By advancing to the next level of the Web3 journey, Hacken is setting a new precedent where token investments extend beyond the digital realm and become an integral part of real-world transactions. Our commitment to RWA tokenization represents not just a strategic move but a transformative shift that promotes unity, diversity, and connectivity within our community. It signifies a broader evolution in how private crypto investors interact with blockchain projects."

This move by Hacken not only represents a significant milestone in the convergence of cryptocurrency with traditional business models but also highlights the innovative possibilities of blockchain technology in creating new forms of investment and ownership.