HALO Network Development Recap — May 2022
May might have been lackluster as far as the price action of cryptocurrencies is concerned, yet the HALO Network team has remained steadfast in building a chain that survives the crypto winter.
HALO Network has achieved major milestones in May. Most of the project’s progress this month is focused on positioning HALO Network as the preferred chain for a diverse array of activities.
This piece provides a recap of the major HALO Network development strides in May 2022. Read on!
HALO Network hopes to deliver the total decentralization of its cross-chain bridge service, which explains the introduction of a HALO Bridge governance token, HBG. Holders of the aforementioned cryptocurrency will take part in decision-making on the operations of the cross-chain bridge.
In May, HALO Network allowed the minting of HBG tokens, essentially taking another step towards a decentralized HALO Bridge.
The minting process consists of HO/USDT and HO/HOS liquidity mining opportunities. Anyone holding these assets can add liquidity to the relevant pools and earn HBG. These pools will only remain active for 90 days, so interested participants are expected to act quickly. Part of the minted HBG tokens will be devoted to rewarding third-party ecosystems.
HOSWAP Genesis Pool Closed
All things must come to an end, and that’s precisely the case with the HOSWAP genesis pool. The LP genesis pool will be shut down by June 1st, bringing to an end the mining of HOS tokens from liquidity mining activities for the DEX’s native token.
Security Audit For HALO Bridge Token Completed
In May, the smart contract for the HBG token was audited. The HALO Network team hired Lunaray, a renowned IT security outfit to scrutinize the codes of the cross-chain bridge token.
The audit has been completed and HBG has given the prerequisite pass in security and stability, which is a boost for both HALO Network and its users.
New LP Pools Deployed
As HOSWAP-BSC continues to grow, more LP Pools get deployed on the DEX. In May, four new LP pools — HO/FIL LP Pool, HOS/FIL LP Pool, HO/MOS LP Pool HO/RRB LP Pool — were added to the DEX. You can now leverage these pools for their liquidity mining and trading opportunities.
HALO Network On KIK Wallet
Public chains like HALO Network drive the adoption of blockchain through the provision of multiple points of access. Availability on multiple crypto wallet platforms is one of the ways through which public chains reach more users. Following this line of thought, HALO Network is now on KIK Wallet, making it possible for users to access the public chain through this wallet vendor.
The integration of HALO Network on KIK Wallet signals the growing popularity of the public chain in the crypto space that’s big on visibility.
HALO Network Partners with Starfish OS
In May, HALO Network entered a strategic partnership with Starfish OS, a Starfish-styled consensus system for managing DAOs. Through this collaboration, HALO Network hopes to efficiently navigate its DAO governance plans without losing sight of the prospect of web3.
Decentralized Autonomous Organization (DAO) offers lots of perks, which explains the growing number of projects opting for the DAO approach. However, there are lots of moving parts in DAO governance, so expertise on the subject is key. HALO Network is bringing Starfish SO on board to smoothen out the rough edges of its DAO governance solution. The symbiotic relationship will see Starfish SO access liquidity through the public chain’s array of financial products.
HALO Network On ONTO Wallet
While users were still celebrating the integration of HALO Network on KIK Wallet in May, the public chain got deployed on another wallet vendor, ONTO Wallet. To access the HALO Network chain, you need to update your ONTO Wallet to the latest version, v4.2.6.
With this support for HALO Network on ONTO Wallet, users can now access the chain, assets, and dapps on HALO Network from their ONTO Wallet.
HALO Network On BitKeep Wallet
Another latest wallet addition of HALO Network is the BitKeep Wallet. With BitKeep’s support of HALO Network, users can now access the chain, assets, and dapps on HALO Network from their Wallet.
To access the HALO Network chain through BitKeep, users need to update their BitKeep Wallet to the latest version, v7.0.9. You can also download the wallet from here. Securely store and hold your HO and HALO assets in BitKeep.
Collaboration With Pego Network
In May, HALO Network entered a collaboration with Pego Network, a DAO community-based chain. The unusual partnership will see both public chains navigate the crypto space through product sharing and access to virtual resources.
HALO Network Blockchain Explorer Upgrade
HALO Network’s growth rate is great for the public chain’s perception, but it takes a toll on the network infrastructure. In most cases, the blockchain explorer is often badly affected. In May, HALO Network undertook the upgrade of its blockchain explorer.
The 3-day long upgrade improved the performance of the blockchain explorer, letting users access relevant data regarding activities on the chain as quickly as possible.
Despite the dismal price action of cryptocurrencies in May, development continued nonstop. HALO Network has continued to build at an amazing pace, relegating the bearishness of the market to the background. As the saying goes in the crypto space, great projects are developed in the bear market, and HALO Network is a fine example of one.