HALO Network Development Recap — August 2022
August has been a rollercoaster of a month, even for the highly volatile crypto space. Despite the prevailing market situation, development has continued within the HALO Network ecosystem. Here, we go over some exciting milestones by HALO Network in August.
Unique wallet transactions on HALO Network hit 450,000
HALO Network might be a relatively new public chain, but it’s already making quite an impression.
In August, over 450,000 unique wallet transactions were recorded on-chain across the HALO Network ecosystem. That’s a lot for a chain that’s barely two years old. Considering HALO Network’s technological infrastructure, it does come as no surprise to see more users leverage the chain’s ecosystem.
New Strategic Partner: Enter PEGO Network
HALO Network has been consistent in forming viable collaborations with reputable projects within the crypto space and beyond.
In August, the public chain entered a strategic partnership with PEGO Network, a DAO community-based public chain. This collaboration is expected to foster the growth of both networks through the consolidation of ecosystem resources.
More $HO tokens burned
In August, Starfish OS burned more $HO tokens, pushing the total number to 93,822.0941.
That’s a lot of $HO tokens eliminated from the ecosystem. The collaboration between HALO Network and Starfish OS has seen the burning of $HO tokens become a weekly activity in recent times.
HALO Explorer Upgraded
HALO Network strives to deliver value to users and it shows in the amount of time and resources devoted to the cause. In August, the HALO Explorer got upgraded, improving in so many spheres how users interact with the chain.
The HALO Explorer upgrade will see changes in technical capabilities, which should make for robust user interaction. To serve its global users, other languages will be added to the HALO Explorer. The latest upgrade has seen the addition of Chinese, so Chinese users can navigate the explorer with ease.
HALO Explorer has become more flexible since user feedback forms the core of upgrades to this ecological component of the HALO Network ecosystem. Focus has been on improving the data display section, offering users hands-on
Another aspect of the latest HALO Explorer upgrade will put data control in the hands of users through changes in CSV exporting. The optimization of CSV exported data display on the HALO Explorer is expected to decentralize asset control, letting users manage transaction records much better.
The HALO Explorer upgrade will allow users to enjoy superior data insights, which is instrumental in maximizing the gains of the HALO Network DeFi service.
HALO-DeFi Derivatives Platform launched
In August, HALO Network launched a HALO-DeFi derivatives platform based on its decentralized stablecoin, HUSD. To participate, users will stake their HO-USDT pair, generating HUSD in the process. This can then be used to trade assets on the derivatives platform. Though decentralized, the derivatives platform will rely on HALO Oracle for pricing data, preventing security breaches notorious in the DeFi space.
The derivatives platform will also support a wide array of assets and trading opportunities including margin. HALO Network has the technical infrastructure to make this work, so users should be excited about the future.
HALO Network Now on W3Swap
HALO Network got a spectacular reception on W3Swap this August as users can now earn the HALO-DEFI token $HD by staking HO/OSK-DAO, HO/HBG, and HO/HOS.
You can stake any of these trade pairs to earn the HALO-DEFI token $HD, which forms the backbone of the recently launched HALO derivatives platform. The pools are expected to last for 210 days from the date of the announcement, so users have ample time to get involved.
HALO Network MEME MetaFi Airdrop for Liquidity Providers
Incentivizing liquidity providers is certainly great for morale.
In August, HALO Network teamed up with MetaFi to reward HO/OSK-DAO liquidity providers on W3Swap, airdropping these users with STE tokens v
ONTO Wallet Giveaway
A community giveaway is certainly a great way of incentivizing the users. In August, HALO Network, together with ONTO Wallet, hosted a giveaway to reward participants who actively follow all rules.
A total of $1,000 USDT has been allocated to all participants. You can join the giveaway by following the rules and completing ALL the tasks here. The giveaway ends in a few days.
August might have been a topsy-turvy month for the crypto market, but that hasn’t affected the resolve of the HALO Network team. Development has continued unhindered as confirmed by the numerous partnerships, products, and capacity overhauls. Hopefully, users will get to reap the benefits of these developmental strides in the future.
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