Building a Multi-Chain Financial Metaverse in HALO Network
Given a gradually developed crypto ecosystem power by the metaverse popularity, new exploration has been carried out by many public chains in the metaverse sector currently. Against such a backdrop, it is expected that the crypto industry will be home to different public chains interacting with each other. Consequently, new types of public chains have been more popularized by meeting market demands.
Being one of those types, the HALO Network public chain boasts outstanding performance in light of the completion of its development plan in the last year beyond expectation, marking a success during this period.
Thus, a meeting based on the success was held by HALO Labs for the conclusion. Also, in the meeting, a plan for transforming HALO Network to find the next lucrative field was proposed. According to the plan, the development of a new multi-chain ecosystem will be carried out under the DAO governance promoting the integration of DeFi and metaverse.
Building a New Type of Public Chain in an All-Round Manner
In HALO Network, as a fully decentralized public chain with a diverse financial ecosystem, on-chain applications are highly compatible in the ecosystem. In order to better integrate these applications with the DeFi ecosystem, a three-step strategy was formulated by HALO Network.
The First Step: deploying multiple blockchains on HALO Bridge
HALO Bridge, an innovative application developed fully by HALO Network, will see lower costs and difficulty to bridge across different chains based on its advantages. Through that application, products of the HALO DeFi derivatives, including synthetic assets, market prediction, perpetual contracts, lending, options, insurance, interest rate derivatives, as well as DEX can be utilized flexibly. Therefore, the DeFi ecosystem in HALO Network can be combined with that of other public chains heterogeneously, namely Ethereum, Tron, and Polkadot. This will enhance the market presence of the HALO Network public chain in the future DeFi sector.
The Second Stop: providing DeFi liquidity by HOSWAP
The biggest problem of the DeFi ecosystem is its low liquidity. In light of that, the HALO Network ecosystem will give full play to HOSWAP through the launch of the HOSWAP IDO section. Through that section, more services can be provided in applications in the ecosystem, creating greater liquidity in HALO Network. In the end, a financial platform featured with numerous services with the network at its core will be established.
Currently, a strategic collaboration has been formed between HOSWAP and ZEED’s community to collectively promote the development of the swap.
The Third Step: holding the competition for supernodes
Holding the competition for supernodes will allow users to enjoy greater interests and benefits within the HALO Network ecosystem, which can be interconnected with other ones flexibly.
In the future, those nodes will serve as supervisors in the governance of the ecosystem during its development. On the other hand, dividends and bonuses generated by the ecosystem will be distributed fairly to everyone through their mobilization of on-chain resources.
Creating a Safe and Sound Future
Apart from achieving stable development for its ecosystem, HALO Network will also put security first to secure its sustainable growth.
All possible risk exposures will be deduced with an all-round security audit conducted strictly. On top of the audit result, the underlying smart contract can be updated for refinement. By doing so, the team can develop a fairer ecosystem by being responsible for every ecosystem user.
Boosting a Revolution through Multiple Communities
Putting security above everything, HALO Network will push forward its ecosystem development through the concerted efforts from different communities.
Through those communities, a multi-chain launchpad can be built in the HALO Network for users to effortlessly participate in projects of high quality winning more crypto asset dividends.
Besides, to enrich the applications within the ecosystem, strategic partnerships have been established between HALO Network and numerous quality GameFi ecosystems such as Cosmic and HAGLIEN. Based on those partnerships, a multi-chain GameFi platform aggregating different projects will be developed for providing diverse services for GameFi users.
With the support from various communities, a consensus based on HO, the core token of HALO Network can be cultivated among users for it to circulate in communities, ecosystems, and even the world. Thus, the token can be recognized around the world through the consensus following the wide integration of the HALO economy with other ecosystems.
Strengthening the DAO Governance Model
To establish a value consensus of HO among global users, it is a must that the HALO Network community should be governed by users. Based on that, in order to maximize the value of HO token, a new DAO community governance model named “the governance by a board of directors”, will be introduced by HALO Network.
Through this new model, HO holders can take part in the decision-making process of the future development of the network, addressing problems such as the power decentralization in a project and low liquidity. In this case, community members enjoy more benefits as the HALO Network ecosystem continues to grow.
Given an open and fair ecosystem, community users can collectively advance the globalization of HO while promoting the integration of the DeFi system with the metaverse one, with HO as the essential component. This is how an efficient financial system is built under the DAO governance.
In the future, by holding HO, users of the HALO Network metaverse can get access to efficient financial services with low costs and barriers. For instance, they can enjoy the collateralized lending of digital assets. Also, insurance and the securitization of these assets are available for them. Therefore, those services can be the same as those based on real assets, which can make the metaverse more valuable with HO having stronger financial features.
Trials will be made by HALO Network to create a metaverse combining the DeFi sector. Besides, this metaverse will be under the DAO governance with various HO use cases. In this way, its economic system can be refined by community members for achieving sustainable and controllable development.
After one year of development, HALO Network has embarked on the path to become a new type of public chain. During this process, applications in the HALO Network ecosystem will be upgraded to attract more investment, which can increase the exposure of the crypto industry to the world. This will create more crypto application solutions for the industry allowing the advantages of the DeFi metaverse built by HALO Network to be fully displayed.