Note: This HAI token (0x5f6f5fa1553fe2444163375b15d188b1689ae1fc) is different from the cybersecurity-focused “Hacken Token” (HAI) on BNB Smart Chain, which uses a separate contract. Always verify the contract address before interacting.

TL;DR

• HAI is a BEP-20 stablecoin on BNB Chain built by Mellow Money Technology and branded as “Let’s Get HAI.”
• It’s a multi-collateral, over-collateralized CDP system: users lock approved assets to mint HAI and burn HAI to unlock them.
• The protocol uses a PID controller (a feedback mechanism from control theory) to help keep HAI near its peg.
• Reserves are on-chain, and collateral onboarding is governed by $KITE holders.
• Public footprint across major listings appears limited, so lean on on-chain data and official sources for due diligence.

What is HAI?

HAI is a decentralized stablecoin designed to hold a steady value on the BNB Chain. Instead of depending on a bank account of cash reserves, HAI maintains stability with crypto collateral and algorithmic controls. It is developed under the Mellow Money Technology umbrella and presented via the “Let’s Get HAI” platform (letsgethai.com, mellow.money).

How HAI works (simple terms)

• Over-collateralized: To mint 1 HAI, you lock more than 1 HAI’s worth of approved collateral (like other crypto assets). This buffer helps handle market swings.
• CDP mint/burn flow: You deposit collateral to open a vault (a CDP), mint HAI against it, and later repay HAI to retrieve your collateral. If collateral value drops too much, positions can be liquidated to protect the peg.
• PID controller for stability: A PID controller (Proportional–Integral–Derivative) is a standard feedback mechanism that adjusts system parameters based on how far and how persistently the price deviates from the target. In plain English: it nudges the system to correct small and large deviations more smoothly, aiming for tighter stability.
• On-chain reserves: Collateral and system operations are transparent on-chain, reducing reliance on traditional banks.
• Governance via $KITE: Which assets are acceptable collateral is decided by $KITE holders, adding a community-driven layer to risk management.

Where HAI fits in DeFi

• Leverage and hedging: Users can mint HAI to amplify exposure to their collateral or to hedge volatility without selling assets.
• Liquidity and farming: HAI can be paired in liquidity pools, and some venues may offer incentives to deepen liquidity and improve price stability.
• Medium of exchange: As a stablecoin, HAI can serve as a unit of account and store of value across BNB Chain apps.

Tech stack and chain specifics

• Token standard: BEP-20 on BNB Smart Chain.
• EVM-compatible: HAI integrates with EVM tooling, wallets, and DeFi protocols common to BNB Chain.
• Low fees, fast confirmations: Suited to high-frequency DeFi actions like minting, rebalancing, and liquidations.

What’s known vs. what’s still emerging

• Known: HAI’s architecture (multi-collateral, over-collateralized, CDP-minted, PID-stabilized) and association with Mellow Money Technology/Let’s Get HAI.
• Emerging: Visibility on major ticker sites and centralized listings looks limited at the time of writing. Treat HAI as an early-stage or niche asset from a market-discovery perspective and use on-chain data to verify activity.

Verify you’ve got the right HAI

• Contract address: 0x5f6f5fa1553fe2444163375b15d188b1689ae1fc
• Explorer: Check supply, holders, and transfers on BscScan.
• Official sites: letsgethai.com and mellow.money.
• Avoid confusion: Do not confuse this token with the separate “Hacken Token (HAI)” that has a different contract.

How to research and track HAI

• Read the docs and governance: Start from the official site for whitepapers, risk parameters, and $KITE governance decisions.
• On-chain health checks: Review collateral vaults, liquidation activity, and peg behavior over time.
• DEX liquidity: Look at pools on BNB Chain DEXes (e.g., PancakeSwap) to gauge depth and slippage.

If you explore trading or liquidity, consider:

• GMGN tracking page for HAI: https://gmgn.ai/eth/token/fV1R5sZ5_0x5f6f5fa1553fe2444163375b15d188b1689ae1fc
• PancakeSwap (for BNB Chain pairs)
• BscScan token page for contract verification and holder analytics

Note: Always verify the pool’s token address before swapping.

Key risks to understand

• Collateral volatility: Sharp drawdowns can trigger liquidations and stress the peg.
• Parameter risk: If PID or risk parameters are mis-tuned, the peg could temporarily drift.
• Liquidity risk: Shallow pools can mean higher slippage and difficulty exiting positions.
• Governance risk: Collateral whitelisting and system changes via $KITE governance introduce policy risk.

Bottom line

HAI aims to be a transparent, crypto-collateralized stablecoin on BNB Chain, built around a familiar CDP model and enhanced with a PID controller to smooth peg maintenance. Because its public listings footprint appears limited, lean on first-party documentation and on-chain data when evaluating the system’s health, collateral composition, and liquidity—and always double-check you’re interacting with the correct contract address.