HALO Network Development Recap — September 2022
As September winds up, the HALO Network ecosystem continues on its path of growth through the completion of several developmental milestones. In this recap, we will look at some of the interesting events involving the HALO Network ecosystem in September.
HALO Network Meme MetaFi Airdrop for Liquidity Providers Distributed
Following the successful conclusion of the MEME MetaFi Airdrop event in August, the distribution of the tokens took place in September.
Users that provided HO/OSK-DAO liquidity last month on W3Swap, can now claim their airdrop. That should get liquidity providers motivated to keep on doing what they do best.
More HO Tokens Burned
In September, Starfish OS continued its familiar practice of burning multiple cryptos including $HO.
The platform burned 30,218.3754 HO, removing those from the current token circulation.
The HALO Network and ONTO Wallet Joint Giveaway Distributed
Finally, the much-anticipated giveaway by HALO Network and ONTO Wallet has come to an end with prizes being distributed in September.
Prizes were distributed using red packets, making it easy for winners to claim their rewards.
HALO Network Strategic Partnership with FaithLand
To bolster efforts aimed at mass adoption, HALO Network has signed a partnership agreement with FaithLand.
This collaboration will enable the support for HO applications on FaithLand while allowing an even broader audience to access the network’s ecosystem.
FaithLand is a unique metaverse ecosystem, onboarding more users into the virtual environment through exciting non fungible tokens (NFTs).
Collaboration with Oasis World
September came with news of another collaboration. This time, HALO Network teamed up with Oasis World, a metaverse-focused project.
With this partnership, the HALO Network ecosystem gets closer to meeting its metaverse targets.
Cross-Chain Fee Adjustment
To enhance the growth of the HALO Network ecosystem, cross-chain fees for transactions on the blockchain have been adjusted to 1 $HO.
The adjustment took effect on the 14th of September, 2022 at 10:00 (SGT). Following this adjustment in cross-chain fees, HBG buybacks get a much-needed boost.
Strategic Partnership with MetaPoint
In September, HALO Network partnered with MetaPoint, a new generation metaverse land protocol to improve the versatility of its virtual space.
Through this collaboration, the HALO Network ecosystem can support more applications relying on metaverse land plots. It’s such a game-changer for the public chain, especially as demand for these virtual plots grows.
HALO Network’s Mined Blocks Hits New High
HALO Network operates a consensus arrangement that entails mining the chain’s native token, $HO. In September, the number of mined $HO hit a new ATH of 9,000,000.
That’s massive for a public chain that’s only a few years old. It points to the growing interest in the many offerings of the HALO Network ecosystem.
HO Gets Listed on Pandora DEX
If $HO is to be accessible to everyone, making the HALO Network native token available on a wide array of exchanges is crucial. This explains the listing of $HO on Pandora DEX in September.
With this latest listing, investors and users have another route to get crypto.
$HO Super Farms in W3Swap
Still, 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.
Expectations for October
In September, the HALO Network team prioritized collaborations with viable projects, strengthening the public chain’s capacity to compete in the ever-changing crypto space. Strategic partnerships with several metaverse-focused projects provide subtle hints of what to expect in the months to come. While nothing is set in stone, users can expect the HALO Network ecosystem to support more metaverse dapps in the future.
On the growth side of things, the public chain will see more traffic spikes in October. The myriad of partnerships agreed by HALO Network should bring more exposure to the ecosystem, which can make all the difference in user activity. Despite the bear market situation, access to more communities will put the public chain in the spotlight.
$HO burns have become a staple in recent months, and October should be no different. That Starfish OS partnership has resulted in consistent HO burns, which does have its perks.
It was a memorable September for HALO Network with several partnerships in the bag. The chain witnessed increased mining activities and more unique wallet transactions, hinting at a surge in its user base. What could be better? While users can attest to the level of development taking place, consistency is crucial. The HALO Network team needs to keep at it if the chain is to take its rightful place amongst public networks.
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