HALO Network
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HALO Network

HALO Network Development Recap — July 2022

In July, HALO Network saw a significant rise in the blockchain’s activities. This follows the team’s effort in improving the chain’s capacity. In this piece, we intend to go down memory lane, revisiting some of HALO Network’s major highlights in July. Let’s go!

  • Pledged HO Tokens Hit The Roof

Everyone knows that pledging HO, the native token of the HALO Network ecosystem provides an opportunity for passive income. While the quantity of pledged HO tokens has been on the increase, the month of July saw that number reach a record 8 million HO tokens pledged so far. This is despite the longer pledging duration for HO tokens.

The unprecedented number of HO tokens pledged is not unconnected to the massive staking rewards attainable.

  • HO Token Burns

HALO Network’s strategic partnership with StarFishOS, which was agreed upon in June is yielding results. In July, StarFishOS burned 523,420.267866666666666662 BSC-HO tokens as part of measures to improve the efficiency of its ecosystem.

This should affect the price of the HALO Network native token positively since that number of tokens gets removed from circulation.

  • HALO Network And ONTO Wallet’s Refer2Earn Program

In June, HALO Network announced its collaboration with ONTO Wallet, which enabled the integration of the blockchain on that wallet vendor. That collaboration allows more users to access the HALO Network ecosystem through the ONTO Wallet interface.

In July, this collaboration metamorphosed into a marketing campaign — the Refer2Earn program — that rewards users for referring others that download and use the ONTO Wallet app. The 21,500 $ONG prize pool is a sufficient incentive to encourage participants to refer more users.

While the campaign is primarily focused on getting more users to try the ONTO Wallet, it does put HALO Network across more eyeballs.

  • HALO Network Integrated Into TokenPocket

Pursuing the blockchain’s drive to reach as many people as possible, HALO Network got integrated on TokenPocket in July. This means you can now access the ecosystem through the TokenPocket wallet interface. Users can transfer assets on the chain, access HALO-based decentralized apps, and import their HALO wallet with ease using the TokenPocket wallet app.

Through this integration on another wallet app, HALO Network remains dedicated to bringing the ecosystem in close proximity to all those in need of blockchain services.

  • 400,000 Unique Wallet Transactions Made In Total

HALO Network might be barely a year old, but the chain has started strongly. In July, the HALO Network ecosystem recorded more unique on-chain wallet transactions taking the total to over 400,000. That’s huge for a public chain that only started operations a few months ago.

Following this significant milestone, we can expect HALO Network to get more popular as users fall in love with the perks of the highly efficient blockchain.

  • More Marketing Campaigns

In July, HALO Network teamed up with BitKeep to create more awareness about its many products. This collaboration centered on rewarding 350 random users who complete certain tasks using the BitKeep wallet app.

The campaign lasted for 5 days, resulting in the sharing of 1500 HO tokens among random participants.

Expectations for August?

In July, HALO Network continued to grow its community through marketing campaigns and rewarding tasks. This is largely due to the drop in enthusiasm for crypto-related events, which is typical of the bear market. While the HALO Network team partnered with other projects to improve its standing in the crypto space through these campaigns, there’s more work to be done.

August should see more such collaborations, enhancing the visibility of the public chain in a sea of heads. Though HALO Network’s faster block generation combined with its capacity to handle over 1000 transactions per second might be noteworthy, infrastructure improvements can make those seem like rookie numbers. Perhaps August will be the month these changes are made.

Surely, August holds a lot of promise for HALO Network. Community members and the general public are certainly in for surprises going into the new month.

Conclusion

HALO Network has made significant progress in July. This is coming as the crypto space witnessed an improvement in price action in that month. The public chain has continued to gain traction as confirmed by the over 400,000 unique wallet transactions totaled in July. More users are leveraging the POS mining opportunity availed by HALO Network. This can be deduced from the over 8 million HO tokens pledged so far. We can expect these numbers to explode in the coming months.

HALO Network’s collaborations with notable projects in the crypto space also coincided with the chain’s marketing moves in July. This will enhance the public chain’s standing in a heavily competitive niche. Having HALO Network accessible on more wallet apps like TokenPocket is a big flex for the public chain that only started operations a few months ago.

In a nutshell, July has been fantastic for HALO Network. Yet, the public chain hasn’t even scratched the surface of its potential.

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