HALO Network Q1 2023 Report

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HALO Network

3 min readApr 1, 2023

As the curtain closes on the first quarter of 2023, we look at some significant events that took place on HALO Network in that quarter. Let’s get to it.

$HO Hits ONTO Wallet Red Packet

In January 2023, HALO Network community came alive with news of the ecosystem’s native token, HO getting added to ONTO Wallet’s red packet. This development lets $HO holders send and receive the token on ONTO Wallet using its red packet service. The benefit of this latest addition towards the HALO Network ecosystem is significant as it gives the public chain some much-needed visibility.

Mined Blocks Exceeds 12,000,000

The first quarter of 2023 has seen the HALO Network ecosystem receive more attention than ever before, and the number of mined blocks is ample proof. The public chain exceeded 12,000,000 mined blocks within the first quarter of 2023.

HO Burns

HALO Network’s native token burn was a familiar sight in the first quarter of 2023. In February alone, 22,697 $HO tokens got burnt through Starfish OS, a partner project supporting the HALO Network ecosystem through regular $HO burns.

HD Mining Suspended

In 2022, HALO Network commenced the mining of HD, the core token of the HALO finance ecosystem on W3SWAP. However, in March 2023, the mining of HD on the super farm was brought to a halt. This has been long anticipated considering the projected circulating supply of HD. An uncontrolled mining of HD tokens is certain to affect the HALO Network ecosystem.

Partnership with Megalith Capital

In the first quarter of 2023, HALO Network announced its strategic partnership with Megalith Capital, a blockchain investment and incubation outfit. This collaboration is expected to usher HALO Network into a new dimension that allows the public chain to expand its frontiers accords the Hong Kong market, which is Megalith’s forte. This collaboration with Megalith is coming on the heels of a below-par 2022 crypto space and the desire to improve HALO Network’s capacity and output in 2023.

The partnership brings a few notable changes to the fore, including a revamping of the public chain’s roadmap for 2023.

BSC-HO Listing on Moontok

The first quarter of 2023 has attracted more eyes to HALO Network. The public chain’s BSC-pegged native token, BSC-HO got a free listing on Moontok. With this listing, $HO holders can now deposit and trade the cryptocurrency on Moontok.

Partnership with Interstellar

The first quarter of 2023 saw HALO Network enter a strategic partnership with Interstellar, a digital asset management outfit. This collaboration is expected to drive the Interstellar reach using the HALO Network ecosystem as a springboard. With HALO Network’s support for DeFi and an efficient blockchain service, it’s a no-brainer to see Interstellar come into the fold.

Conclusion

HALO Network started strongly in 2023 if the first quarter is anything to go by seeing how its governance token $HO surpassed $2 for the first time since September 2022. The collaboration with Megalith Capital is such a big deal for the public chain in its plans to expand its user base. Hopefully, the rest of the year builds on this growth.