Halo Crew，
It’s been a while since I wrote my last letter, how’s everything going on?
As you know, we recently released the public beta of Halo Wallet, which includes a new homepage with transaction feeds and a host of new social features. You may also come across some bugs — consider these little surprises for you to report back to me or other team members so that you can claim your exclusive reward.
Today, I want to share some of my thoughts behind the new version and our future direction.
Let’s dive in.
First, I am going to start with data rights and data value.
When you use blockchain networks to send a transaction, it is permanently recorded on a specific block, fully transparent to anyone in the world. While some transactions may be hidden or obscured, at least 95% of them can be checked or analyzed publicly at any time.
With 14 years of accumulation and prosperity, on-chain data has grown into a gold mine, backed by millions of transactions from whales, sharks, influencers, and everyday investors. Many people know the truth, and some companies even profit from it. However, they often overlook a common sense that data rights and the value of data belong to the individual who created them in the Web3 world.
Of course, those who dig “gold” deserve to be paid, but so should those who create it.
We believe in this, and we aim to achieve our goal by introducing a social incentive network within Halo Wallet. It will take some time to build, but rest assured, it won’t be too long.
Second, I want to touch on the concept of “Skin in the Game”.
A phrase popularized by Warren Buffet, refers to a situation in which high-ranking insiders use their own money to buy stock in the company they are running. It’s a metaphor of shared risk.
In the anonymous world of Web3, where token holders have strong ties to specific projects, “Skin in the Game” is way more important than Web2 financial investment. If someone claims to be a high-ranking insider, they should invest their own money and hold an appropriate share.
Unfortunately, many scammers pretend to be high-ranking insiders and encourage fans to invest in projects which they have no stake in, not even a penny out of their own pockets. Advice from someone who shares no risk with you is not to be trusted. To address this, we are building a system that allows users to check on-chain and off-chain data in one place. Only transactions that prove one’s words should be considered as investment preferences.
This is a challenging task, but our team is well suited for it.
These are my thoughts behind public beta and the two most important aspects we must address in the early stages of Halo Wallet. I’m grateful for your trust and am delighted that you choose us. You choose to join our community from the very beginning.
Halo team is here to support everyone in our community and build an incentivized SocialFi ecosystem where everyone can fairly and transparently benefit from data, social networks, and the growth of Web3. If you’re new here, please follow us on Twitter and community to embark on this thrilling adventure. Don’t be afraid, you are not alone, we are all with you!
For our long-standing friends, now is the time to help others get on board with Halo Wallet. We welcome all suggestions, good or bad, and appreciate your continued support.
P.S. I’ve shared the whole development picture in a previous letter — feel free to check it out.
Goodbye & Good Luck.
Sincerely @Pioneer_Jeff
May 25, 2023
About Halo Wallet
Halo Wallet is a secure and easy-to-use crypto wallet that supports multi-chain aggregation and aims to provide Web3 users with a more efficient and deep insight into investment opportunities through Social web. With the leading security technology audited by Hacken, Halo Wallet is a self-custody wallet with users having full control of their assets. Let Web3 users discover the value of projects earlier, monitor their investment portfolios, and make smart decisions. That is where the Halo Wallet comes into play!
Join Us:
Twitter: https://twitter.com/HaloDotSocial
Telegram: https://t.me/halowalletsocial
Discord: https://discord.gg/958cKHaG2m
Medium: https://medium.com/@HaloDotSocial
