Review HaloDAO ($HALO) – A Decentralized Finance Protocol built upon open-source blockchain technology
HaloDAO Protocol is a decentralized application platform designed to provide stablecoins optimized swaps between each other and against other crypto assets via an automated market maker. It also has the function of enabling stablecoin lending markets.
What is HaloDAO?
HaloDAO is a Decentralized Finance Protocol built upon open-source blockchain technology and available open-source money legos to build fiat-backed stablecoin liquidity networks. With this technology, our protocol utilizes smart contracts to program assets in the form of tokens that store value. This enables our protocol to self-execute complex financial transactions based on inputs provided by signers so as to generate outputs upon the fulfillment of predefined conditions on-chain.
HaloDAO is driving liquidity to regional, asset-backed stablecoins by building a stablecoin optimized AMM and stablecoin-focused Lending Market and linkages with existing wallets and exchanges around the world. With a greater supply of region-specific stablecoins, users will be able to access the permissionless Decentralised Finance (DeFi) economy, thereby lowering the barrier to individual financial participation in a region of the world with a high potential for growth and impact.
HaloDAO connects traditional and decentralized finance by providing the decentralized infrastructure for next-generation payments and settlement. They begin with the core money legos of Swap, Lend/Borrow, supported by Yield.
Outstanding Features
What is the project trying to achieve?
HaloDAO’s mechanism of action
The three main components of the HaloDAO protocol include Stablecoin Minter, AMM, and Lending Protocol.
FX Automated Market Maker (AMM)
HaloDAO will incentivize liquidity and trading between asset-backed stablecoins from Asia, synthetic stablecoins, and key pairs between those stablecoins and popular currencies, such as ETH, WBTC, USDC, USDT, DAI, …
Loan Protocol
Simply creating a region-specific stablecoin and providing liquidity to the AMM is not enough. HaloDAO’s goal is to build a regional lending and borrowing market for Asia-specific stablecoins so that end users can receive interest in regional currencies on their holdings. – essentially “local currency”.
Stablecoin Minter
HaloDAO is based on core integration with UMA’s DVM to provide a “priceless oracle” mechanism for minting synthetic stablecoins at prices commensurate with the collateral tokens and target region currencies.
AMM will act as an intermediary in HaloDAO’s operating model, AMM will receive liquidity from Stablecoin Minter and then lend it to Lending Protocol.
The problem
The future of DeFi and crypto is one that will enable individuals to buy goods and services using asset-backed stablecoins, pegged at a 1 to 1 basis with various local currencies. Very few will be willing to buy ice cream with Bitcoin.
Situation: We are still far from this future of mass adoption and no asset-backed stablecoin has achieved widespread adoption. USD pegged stablecoins have filled a large need for trading in crypto markets, but everyday users still cannot directly use it for everyday purchases.
The solution
HaloDAO aims to address these issues by:
- Building and incentivizing on and off-ramps integrations with existing wallets and exchanges.
- Building an efficient, on-demand currency exchange via On-Demand Liquidity (ODL)
- Building stablecoin specific lending market that provides high-interest yields on local currencies.
- Briding the previous 2 products between L1 and L2 for scalable liquidity and yield
what is the unique selling point?
Technical advancements
HaloDAO aims to incentivize and build asset-backed stablecoin liquidity by establishing the foundational money lego of DeFi. However, rather than using ETH or BTC to generate synthetic USD stablecoins as initial protocols have done, HaloDAO will;
- Build an Automated Market Maker (AMM) to enable efficient trades between stablecoins
- Build a Lending Market to allow more capital efficient lending and borrowing of stablecoins
One effect of launching two fundamental money legos under one protocol is the ability to replicate the early “recycling” of superfluid capital that contributed to the rapid rise of Total Value Locked (TVL) in DeFi. HaloDAO aims to replicate this behavior specifically for stablecoin liquidity.
AMM/Exchange
It is a platform that allows users to buy, sell, trade and swap assets.
HaloDAO will incentivize liquidity and trading between synthetic stablecoin-backed stablecoins and key pairs against ETH, WBTC, USDC, USDT, and other “must-have” cryptocurrencies
Lending Market
HaloDAO is building a specific lending and borrowing marketplace for the risk profiles of asset-backed stablecoins, so that end-users can receive currency-denominated interest rates. with their holdings. Basically, users can mint local currency.
Rainbow Pool
Rainbow contracts are HaloDAO’s request mechanism that incentivizes users to hold RNBW longer but does not lock you into a fixed request schedule. Rainbow Pool is an auction contract that allows you to achieve high APY on RNBW without impermanent loss.
However, your RNBW tokens can still be withdrawn at any time, at will (will only lose the monthly RNBW reward). The protocol enables this by allocating 20% of the monthly RNBW liquidity reward for 5 years to the shipping contract.
Streaming ecosystem
AMM
Supported Pairs (ETH Mainnet)
As of our v1 launch, the following stablecoin pairs will earn RNBW rewards on our custom AMM
Supported Pairs (Polygon Matic)
As of our v1 launch, the following stablecoin pairs will earn RNBW rewards on our custom AMM deployed on Polygon
Supported Pairs (Arbitrum)
As of our v1 launch, the following stablecoin pairs will earn RNBW rewards on our custom AMM deployed on Arbitrum
How Vesting Works (ETH Mainnet)
When a user stakes their LP tokens on the Farm page, they will be rewarded with RNBW tokens proportionate to their LP tokens.
Their RNBW tokens are automatically deposited into the Rainbow contract and the user will receive the proportionate amount of xRNBW in return.
Over time, xRNBW will be worth more and more RNBW tokens due to 20% of monthly RNBW liquidity rewards being deposited into the Rainbow Pool.
How Vesting Works (Polygon)
Polygon users earn Wrapped xRNBW from the farming pools in the same way as Ethereum main net users do, with one small difference. Wrapped xRNBW can only be used to claim Wrapped RNBW from the contract deployed on Ethereum. The reason for this is that our Rainbow Pool dictates xRNBW: RNBW based on the total supply of the xRNBW token. That combined with our bridge, being a wrapped token bridge, would mint tokens and in turn cause a permanent difference in xRNBW: RNBW price between Polygon and the Ethereum mainnet.
As a workaround, users may swap their wxRNBW for wRNBW (or vice versa) on our Polygon xRNBW: RNBW pool. The price may divert from the true price on the Ethereum main net, especially after Epoch triggers every 30 days, though we do expect that once an arbitrage opportunity becomes sufficiently profitable, an arbitrageur would take advantage, thus bringing the price back within expected ranges. Of course, there is always the option to redeem xRNBW back on the Ethereum main net via our bridge.
Polygon Matic
Halonauts send tokens from Chain A to Chain B
The HaloDAO Bridge sits between the ETH Mainnet and other EVM Compatible chains – Polygon being the first Layer 2 chain targeted for implementation.
When a Halonaut deposits tokens using the bridge from Chain A to Chain B, the deposit event will trigger the Primary Bridge Smart contract where the Event Broker Service will call upon the HaloDAO Bridge Handler Endpoint. The Bridge Handler script calls the mint function on the Secondary bridge Smart Contract to create the respective wrapped tokens on the destination chain (Chain B).
Halonauts Redeem tokens from Chain B to Chain A
When Halonaut intends to redeem its tokens from Chain B to Chain A, the mechanics mentioned above are generally replicated. First, the deposit event will trigger the Primary Bridge Smart contract where the Event Broker Service will call upon the HaloDAO Bridge Handler Endpoint. The Bridge Handler script calls the burn function on the Secondary bridge Smart Contract to burn the existing wrapped token on Chain B and at the same time release the originally deposited tokens to the user Chain A.
Roadmap
Roadmap Overview
Governance Roadmap
Technical data
Key metrics
$HALO
- Token Name: HaloDAO
- Ticker: HALO
- Blockchain: Ethereum.
- Token Standard: ERC-20
- Contract: Updating…
- Token type: Governance
- Total Supply: 100.000.000
- Circulating Supply: Updating…
Token allocation
Token release schedule
Backers
Team/ Founders
Updating….
Partners
Verdict
HaloDAO is a stablecoin marketplace built to facilitate AMMs (automated market makers) optimized for stablecoins and synthetic assets from Asia, a lending-to-profit marketplace. for local currencies and synthetic asset mints pegged to various Asian currencies. This protocol is mainly developed for Southeast Asia.
HaloDAO will drive liquidity for stablecoins in the Southeast Asia region through a combination of the following factors: mining global liquidity through liquidity rewards, establishing partnerships, and creating multiple events further integration with existing wallets and exchanges across Asia. With a larger local supply of stablecoins, users will be able to access a permission-free Decentralized Finance (DeFi) economy, thus reducing barriers to individual financial participation. in a region of the world with high growth potential and impact.
Find more information about HaloDAO :
Website: https://www.halodao.com/
Whitepaper: https://docs.halodao.com/products/automated-market-maker
Twitter: https://twitter.com/HaloDAOFinance
Telegram: https://t.me/halodao?source=collection_home
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Elise
Coincu Ventures
Author
DeFi Reviews, DeFi
Review HaloDAO ($HALO) – A Decentralized Finance Protocol built upon open-source blockchain technology
HaloDAO Protocol is a decentralized application platform designed to provide stablecoins optimized swaps between each other and against other crypto assets via an automated market maker. It also has the function of enabling stablecoin lending markets.
What is HaloDAO?
HaloDAO is a Decentralized Finance Protocol built upon open-source blockchain technology and available open-source money legos to build fiat-backed stablecoin liquidity networks. With this technology, our protocol utilizes smart contracts to program assets in the form of tokens that store value. This enables our protocol to self-execute complex financial transactions based on inputs provided by signers so as to generate outputs upon the fulfillment of predefined conditions on-chain.
HaloDAO is driving liquidity to regional, asset-backed stablecoins by building a stablecoin optimized AMM and stablecoin-focused Lending Market and linkages with existing wallets and exchanges around the world. With a greater supply of region-specific stablecoins, users will be able to access the permissionless Decentralised Finance (DeFi) economy, thereby lowering the barrier to individual financial participation in a region of the world with a high potential for growth and impact.
HaloDAO connects traditional and decentralized finance by providing the decentralized infrastructure for next-generation payments and settlement. They begin with the core money legos of Swap, Lend/Borrow, supported by Yield.
Outstanding Features
What is the project trying to achieve?
HaloDAO’s mechanism of action
The three main components of the HaloDAO protocol include Stablecoin Minter, AMM, and Lending Protocol.
FX Automated Market Maker (AMM)
HaloDAO will incentivize liquidity and trading between asset-backed stablecoins from Asia, synthetic stablecoins, and key pairs between those stablecoins and popular currencies, such as ETH, WBTC, USDC, USDT, DAI, …
Loan Protocol
Simply creating a region-specific stablecoin and providing liquidity to the AMM is not enough. HaloDAO’s goal is to build a regional lending and borrowing market for Asia-specific stablecoins so that end users can receive interest in regional currencies on their holdings. – essentially “local currency”.
Stablecoin Minter
HaloDAO is based on core integration with UMA’s DVM to provide a “priceless oracle” mechanism for minting synthetic stablecoins at prices commensurate with the collateral tokens and target region currencies.
AMM will act as an intermediary in HaloDAO’s operating model, AMM will receive liquidity from Stablecoin Minter and then lend it to Lending Protocol.
The problem
The future of DeFi and crypto is one that will enable individuals to buy goods and services using asset-backed stablecoins, pegged at a 1 to 1 basis with various local currencies. Very few will be willing to buy ice cream with Bitcoin.
Situation: We are still far from this future of mass adoption and no asset-backed stablecoin has achieved widespread adoption. USD pegged stablecoins have filled a large need for trading in crypto markets, but everyday users still cannot directly use it for everyday purchases.
The solution
HaloDAO aims to address these issues by:
- Building and incentivizing on and off-ramps integrations with existing wallets and exchanges.
- Building an efficient, on-demand currency exchange via On-Demand Liquidity (ODL)
- Building stablecoin specific lending market that provides high-interest yields on local currencies.
- Briding the previous 2 products between L1 and L2 for scalable liquidity and yield
what is the unique selling point?
Technical advancements
HaloDAO aims to incentivize and build asset-backed stablecoin liquidity by establishing the foundational money lego of DeFi. However, rather than using ETH or BTC to generate synthetic USD stablecoins as initial protocols have done, HaloDAO will;
- Build an Automated Market Maker (AMM) to enable efficient trades between stablecoins
- Build a Lending Market to allow more capital efficient lending and borrowing of stablecoins
One effect of launching two fundamental money legos under one protocol is the ability to replicate the early “recycling” of superfluid capital that contributed to the rapid rise of Total Value Locked (TVL) in DeFi. HaloDAO aims to replicate this behavior specifically for stablecoin liquidity.
AMM/Exchange
It is a platform that allows users to buy, sell, trade and swap assets.
HaloDAO will incentivize liquidity and trading between synthetic stablecoin-backed stablecoins and key pairs against ETH, WBTC, USDC, USDT, and other “must-have” cryptocurrencies
Lending Market
HaloDAO is building a specific lending and borrowing marketplace for the risk profiles of asset-backed stablecoins, so that end-users can receive currency-denominated interest rates. with their holdings. Basically, users can mint local currency.
Rainbow Pool
Rainbow contracts are HaloDAO’s request mechanism that incentivizes users to hold RNBW longer but does not lock you into a fixed request schedule. Rainbow Pool is an auction contract that allows you to achieve high APY on RNBW without impermanent loss.
However, your RNBW tokens can still be withdrawn at any time, at will (will only lose the monthly RNBW reward). The protocol enables this by allocating 20% of the monthly RNBW liquidity reward for 5 years to the shipping contract.
Streaming ecosystem
AMM
Supported Pairs (ETH Mainnet)
As of our v1 launch, the following stablecoin pairs will earn RNBW rewards on our custom AMM
Supported Pairs (Polygon Matic)
As of our v1 launch, the following stablecoin pairs will earn RNBW rewards on our custom AMM deployed on Polygon
Supported Pairs (Arbitrum)
As of our v1 launch, the following stablecoin pairs will earn RNBW rewards on our custom AMM deployed on Arbitrum
How Vesting Works (ETH Mainnet)
When a user stakes their LP tokens on the Farm page, they will be rewarded with RNBW tokens proportionate to their LP tokens.
Their RNBW tokens are automatically deposited into the Rainbow contract and the user will receive the proportionate amount of xRNBW in return.
Over time, xRNBW will be worth more and more RNBW tokens due to 20% of monthly RNBW liquidity rewards being deposited into the Rainbow Pool.
How Vesting Works (Polygon)
Polygon users earn Wrapped xRNBW from the farming pools in the same way as Ethereum main net users do, with one small difference. Wrapped xRNBW can only be used to claim Wrapped RNBW from the contract deployed on Ethereum. The reason for this is that our Rainbow Pool dictates xRNBW: RNBW based on the total supply of the xRNBW token. That combined with our bridge, being a wrapped token bridge, would mint tokens and in turn cause a permanent difference in xRNBW: RNBW price between Polygon and the Ethereum mainnet.
As a workaround, users may swap their wxRNBW for wRNBW (or vice versa) on our Polygon xRNBW: RNBW pool. The price may divert from the true price on the Ethereum main net, especially after Epoch triggers every 30 days, though we do expect that once an arbitrage opportunity becomes sufficiently profitable, an arbitrageur would take advantage, thus bringing the price back within expected ranges. Of course, there is always the option to redeem xRNBW back on the Ethereum main net via our bridge.
Polygon Matic
Halonauts send tokens from Chain A to Chain B
The HaloDAO Bridge sits between the ETH Mainnet and other EVM Compatible chains – Polygon being the first Layer 2 chain targeted for implementation.
When a Halonaut deposits tokens using the bridge from Chain A to Chain B, the deposit event will trigger the Primary Bridge Smart contract where the Event Broker Service will call upon the HaloDAO Bridge Handler Endpoint. The Bridge Handler script calls the mint function on the Secondary bridge Smart Contract to create the respective wrapped tokens on the destination chain (Chain B).
Halonauts Redeem tokens from Chain B to Chain A
When Halonaut intends to redeem its tokens from Chain B to Chain A, the mechanics mentioned above are generally replicated. First, the deposit event will trigger the Primary Bridge Smart contract where the Event Broker Service will call upon the HaloDAO Bridge Handler Endpoint. The Bridge Handler script calls the burn function on the Secondary bridge Smart Contract to burn the existing wrapped token on Chain B and at the same time release the originally deposited tokens to the user Chain A.
Roadmap
Roadmap Overview
Governance Roadmap
Technical data
Key metrics
$HALO
- Token Name: HaloDAO
- Ticker: HALO
- Blockchain: Ethereum.
- Token Standard: ERC-20
- Contract: Updating…
- Token type: Governance
- Total Supply: 100.000.000
- Circulating Supply: Updating…
Token allocation
Token release schedule
Backers
Team/ Founders
Updating….
Partners
Verdict
HaloDAO is a stablecoin marketplace built to facilitate AMMs (automated market makers) optimized for stablecoins and synthetic assets from Asia, a lending-to-profit marketplace. for local currencies and synthetic asset mints pegged to various Asian currencies. This protocol is mainly developed for Southeast Asia.
HaloDAO will drive liquidity for stablecoins in the Southeast Asia region through a combination of the following factors: mining global liquidity through liquidity rewards, establishing partnerships, and creating multiple events further integration with existing wallets and exchanges across Asia. With a larger local supply of stablecoins, users will be able to access a permission-free Decentralized Finance (DeFi) economy, thus reducing barriers to individual financial participation. in a region of the world with high growth potential and impact.
Find more information about HaloDAO :
Website: https://www.halodao.com/
Whitepaper: https://docs.halodao.com/products/automated-market-maker
Twitter: https://twitter.com/HaloDAOFinance
Telegram: https://t.me/halodao?source=collection_home
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Elise
Coincu Ventures
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