Kriptoks

HaloDAO Protocol is a decentralized platform that enables stablecoin optimized swaps between different cryptocurrencies through an automated market maker (AMM). In addition, it also provides a stablecoin lending market. The platform was launched initially on Ethereum, and it is set to be launched on Binance Smart Chain and Polygon.

The native utility token of HaloDAO Protocol is RNBW, which serves several functions. Firstly, it is used for governance participation to determine how network resources are allocated. Secondly, when actively staked in vesting and voting in governance, it earns a portion of stablecoin profits. Thirdly, it serves as collateral for lending markets and AMM liquidity.

The platform also includes several features such as a stablecoin optimized AMM with a custom bonding curve that caters to swapping between differently priced stablecoins. Additionally, it has a stablecoin risk profile optimized lending market that increases collateral utility compared to volatile cryptocurrencies. The platform also utilizes optimistic governance (off-chain voting, on-chain execution) and offers RNBW liquidity rewards and vesting via the xRNBW vesting token.

The total supply of RNBW tokens in circulation is capped at 100 million, and the platform was launched on the mainnet on June 24, 2021.

The HaloDAO Foundation is the entity that launched the HaloDAO Protocol, and it is headed by Jun Ming Yong, who is the founder and Protocol Lead. Jun has a lifelong fascination with increasing financial inclusion and previously worked at Ethereum Venture Studio ConsenSys. Christopher Verceles, his co-founder, also worked at ConsenSys and previously worked on Project i2i with Unionbank. The purpose of HaloDAO is to ensure that local stablecoin liquidity can be built, and it aims to work with regulated e-money partners, such as TrustToken, to bridge the gap between traditional finance and decentralized finance.