HALO Network Development Recap 2022 — The Journey So Far
Despite the downturn in the crypto market, it has been an amazing year for HALO Network. Over the past 9 months in 2022, the public chain has undergone monumental changes aimed at making it the ideal choice for users. This piece looks at some of these developmental changes to the HALO Network ecosystem in the past three quarters (Jan-September) of 2022. Let’s get to it.
HALO Network Cross-chain Fee Adjusted
In the first quarter, the fee for cross-chain activities on HALO Network ecosystem was adjusted downwards from 1 HO to 0.1 HO.
This was necessary to encourage users to transact across multiple chains using HALO Bridge. With the public chain being a new player in a vibrant space, this downward fee review makes the network more attractive.
The first quarter of 2022 brought forth the launch of HOSWAP-BSC DEX. Through this DEX, users had access to the perks of two public chains — HALO Network and Binance Smart Chain.
Following the successful launch, several liquidity pools were accessible to users including HO/USDT, HO/HOS, and HOS/BNB.
$HO Listed on CoinGecko
HALO Network’s native token, HO got listed on CoinGecko in the first quarter of 2022. Previously, users were limited to tracking the token price and other indices through HOSWAP. But that has changed with HO listing on CoinGecko.
HALO Labs Governance Committee Votes for Node Cycle Changes
In the second quarter of 2022, HALO Labs Governance Committee voted to change the node cycle from the six-month and one-year contract to the 30-day & 90-day POS node cycles.
The committee claimed this was necessary to speed up the development of the public chain while offering users a more distributed financial system.
Launch of HBG Mining in the Genesis Pool
The second quarter of 2022 is memorable to the HALO Network ecosystem for many reasons. One such reason is the launch of HBG mining in the HOSWAP Genesis Pool.
HBG is the governance token of HALO Bridge. To mint HBG, users had to stake HO/USDT or HO/HOS. The liquidity mining pools lasted for 90 days, availing most users the opportunity to get their wallets on some HBG tokens.
HALO Bridge Security Audit Concluded
To ensure the safety of user assets on HALO Bridge, HALO Network recruited the services of Lunaray, an overseas security outfit in the second quarter of 2022 to carry out a security audit on the cross-chain bridge.
Interestingly, the audit report provided a clean bill of health on HALO Network, confirming the bridge is stable and secure.
HALO Network Explorer Upgrade
Another significant component of the HALO Network’s second quarter of 2022 was its Explorer upgrade. The public chain made radical changes to its explorer, enhancing the highly useful feature of the blockchain.
The upgrade was in progress for about 3 days, an indication of how extensive the changes made turned out to be.
HALO Network Integrated on Token Pocket Wallet App
HALO Network started strong in the third quarter of 2022 with the integration of the public chain on the wallet app, Token Pocket. With this latest integration, you can import, create and sync your HALO wallet on the Token Pocket Wallet app.
The integration also supports deposit, withdrawal, and dapp interactions.
HALO Network — BitKeep Airdrop Giveaway
In the third quarter of 2022, HALO Network hosted a giveaway campaign for users on the BitKeep Wallet app. Participants got the chance to share in the $1500 prize pool.
Users had to hold their $HO tokens on BitKeep to qualify for the airdrop.
HALO Explorer Upgraded Again
One of the key components of the HALO Network ecosystem, the HALO Explorer got upgraded again in the third quarter of 2022. This is a more in-depth upgrade compared to previous attempts.
The upgrade saw the inclusion of support for the Chinese language, which is believed to better serve more users. Perhaps the most interesting thing about this latest upgrade is it takes into consideration user feedback, which is beneficial for any product.
Changes to the explorer have also added more content to the home page, making it possible for users to keep track of asset prices. The upgrade to the HALO Explorer now allows users to take control of their data thanks to the support for more robust CSV support. The accuracy of these data export trickles down to the decimals, hinting at a more efficient system.
HALO-DEFI Derivatives Platform Launched
The third quarter of 2022 saw the ecosystem launch the HALO-DEFI Derivatives Platform, which revolves around the decentralized stablecoin, HUSD.
As part of the launch, a new token HD was introduced, specifically for this platform.
HD Liquidity Pools Launched on W3SWAP
In August 2022, HD liquidity pools went live on W3SWAP, a decentralized liquidity farming platform.
Holders of HO/OSK-DAO, HO/HBG, and HO/HOS can proceed to farm $HD tokens on W3SWAP.
HALO Network MEME MetaFi Airdrop Event
HALO Network announced the commencement of the STE token airdrop to participants of its meme MetaFi airdrop event. Participants were required to be HO/OSK-DAO liquidity providers to benefit from the airdrop largesse.
Rewards were recently distributed to eligible participants through red packets.
$HO Super Farms in W3Swap
In September, there was a major uptrend in HALO Network’s $HO as the ecosystem continued to perform in the W3SWAP super farms, unlocking the deep value of HO with the rising production ratio weights.
The production weights in each mining pool change and are applied differently in the PG and W3 pools. You can stake LP tokens at w3swap.finance on any of these trade pairs to earn W3 and PG tokens. $HO continues to gain momentum on the W3Swap LP stake.
Regardless of the prevailing bear market situation, 2022 has been an eventful year for HALO Network as confirmed by this brief development recap. The public chain has continued to wax stronger thanks to an unrelenting team, a loyal community, and an ingenious catalog of products. Fingers crossed the year comes to a memorable end for the network.
Follow HALO Network and stay up-to-date:
🔘 Official Website: https://halo.land
🔘 Telegram Group: https://t.me/HALONetwork
🔘 Telegram Channel: https://t.me/HALONetwork_news
🔘 Twitter: https://twitter.com/network_halo
🔘 Medium: https://halonetwork.medium.com
🔘 Reddit: https://www.reddit.com/r/halonetwork
🔘 Discord: https://dsc.gg/halo-network