Opening the Era of Connecting All Blockchains Through HALO Bridge
With the advent of the multi-chain era, there is an increasing need for assets to circulate widely in the multi-chain world. Therefore, cross-chain bridges have seen explosive growth. By 2022, more than 80 cross-chain bridges have emerged in the crypto world. There is no doubt that these bridges have occupied an important strategic position in the current multi-chain era. Whoever can create a convenient, easy-to-use and efficient cross-chain bridge will dominate the bridge ecosystem in the future.
As the builder of the HALO Network ecosystem with innovations, the team has also realized the importance of the cross-chain function, in terms of expanding its ecosystem in the future. Given that, while continuing to focus on building their public chain ecosystem, they have made efforts in the development of a cross-chain bridge. With those efforts, HALO Bridge, the flagship product of HALO Network, was launched.
Convenient, Easy-To-Use and Efficient HALO Bridge
HALO Bridge, developed with independent innovative technology, can solve the current liquidity problem in multi-chain ecosystems under the premise of high transparency and tamper-free security. Through this bridge, the interaction of assets between ecosystems can be realized.
Compared with Avalanche Bridge, a well-known cross-chain bridge in the industry, Halo Bridge has obvious advantages in terms of its price, efficiency, and ecosystem.
Avalanche Bridge, as a first-class cross-chain Bridge, has relatively high cross-chain costs in the industry. However, HALO Bridge is optimized for the network to continuously reduce those costs to the greatest extent. Each cross-chain interaction only needs 0.1HO, compared with Avalanche Bridge, The threshold of HALO Bridge is lower with a more affordable price.
The cross-chain process of HALO Bridge has been iterated many times to provide a faster confirmation speed of cross-chain asset transactions with a second-level response, which is even faster and more efficient than Avalanche Bridge.
Avalanche Bridge supports the cross-chain interaction of USDT and bidirectional cross-chain interaction on Avalanche C chain. This imposes certain application limitations on it. Halo Bridge adopts a more compatible underlying framework. In the future, the multi-chain interaction with EVM-compatible public chains will be gradually available providing a richer range of cross-chain asset categories.
Creating Win-Win Scenarios for Ecosystem Users
In addition to providing core application advantages for the HALO Ecosystem, HALO Bridge is also connected to the ecosystem through its governance token based on a deflationary mechanism to generate value.
The issuance of governance token HBG of HALO Bridge is capped at 1 million. 100% of those tokens are mined through LP mining. Users in the HALO Network ecosystem can trade HO for USDT and HOS. In other words, HBG are given to every HALO user as gifts connecting HOS and HO. In this way, a solid system to create value is established with HO, HOS and HBG. Through this system, the role and status of users in the HALO Network ecosystem will be fundamentally changed.
In the future, HALO users can not only enjoy the efficient and easy-to-use cross-chain function through HBG, but also get value growth dividends from interconnected HO, HOS and HBG. Driven by both yields generated by HBG use cases, users will also get win-win benefits in the ecosystem after changing from speculative retail investors.
In addition, HBG will also promote ecosystem development through its value. For example, 90% of the cross-chain fee of HALO Bridge will be used for buybacks to facilitate deflation, creating value for HBG.
These considerable funds for buybacks are bound to become the pillar for HBG’s development. Eventually, a positive cycle will be formed to increase the price of both HO and HOS, continuously driving up the overall market cap of the HALO Network ecosystem. In the end, both token holders and the ecosystem will be benefited!
Building a Bright Future for HALO Bridge
With great cross-chain demand in the crypto industry, HALO Bridge will be optimized through various iterations to improve the efficiency of on-chain interactions. Also, the optimization can contribute to the improvement of cross-chain functions. On top of that, convenient, compatible and low-cost value transmission channels can be provided to users.
At the same time, as a key hub carrying user assets, the team behind HALO Bridge will also invite professional security audit companies to review its underlying code. Besides, its code will be open-source based on the development progress of the bridge.
In the multi-chain era, the rise of HALO Bridge means that HALO Network has entered a new stage of development. In the future, HALO Bridge will give full play to its advantages in value and innovation to make it accessible around the world with efficient services.