HaloDAO (RNBW) Review – Where To Store Stable Coins

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HaloDAO (RNBW) Review

HaloDAO Overview

Halodao is the home of all these stable coins. It was established on June 24, 2021, by  Jun Ming Yong. 

Stable coins are coins that do not vary in price and are proportional to the dollar. Examples include USDT, USDC and so on. 

The primary purpose of HaloDao is to increase the liquidity of the stable coins that are not yet proportional to the value or price of the US Dollar. Hence, it supports many features that you might not even know about but I will disclose it later in this article.

RNBW is the native token of HaloDao and it is used as a reward for users of the platform when they increase liquidity. 

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Features Of HaloDAO

  1. Swap: This allows users to swap stable coins at the best rate.
  2. Pool: Uses are rewarded with HLP tokens as they increase the liquidity of the available pools.
  3. Farm: After getting your HLP token, you can also exchange it with RNBW token. 
  4. Vesting: The RNBW token of users are stored here and the users can only redeem them later on. Also, users can get a 23.08% APR and a share in the net profit if they can live their RNBW token for a month. 
  5. Bridge: Users can move the RNBW along EVM supported networks including Etherum and Polygon networks.
  6. Vote: Users can have their say about what to improve In the platform. 

Supported Stablecoins

HaloDao supports the following stable coins: 

  • USDC
  • TGBP
  • TCAD
  • XSGD
  • tagPHP
  • fxPHP
  • TAUD

RNBW – HaloDAO’s Token

RNBW – Rainbow Candles – is the official token of HaloDao. It serves the purposes of Governance and vesting rewards. 

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Circulating supply- 5,602,877

Max. Available supply – 100,000,000 RNBW

How To Use HaloDAO

  1. Go to HalaoDao.com
  2. Tap on “Enter app”.
  3. Tap on “click wallet” and choose your preferred wallet.
  4. Choose the feature you want to make use of
  5. If you don’t want to use the ethereum network, then change to the polygon network from the top menu.

What Does The Future Hold For HaloDAO?

We have come a long way already and I certainly think HaloDao has a lot to make of this in the future. These are my reasons:

  1. It is supporting 6 coins already and we have seen the changes in their liquidity
  2. RBMW has already been listed on some exchanges and to exchanges like Binance and is looking at the behaviour of these tokens.
  3. Users can also move their coins across two networks – ethereum and polygon – and they are working on more networks.

FAQs

How much does it cost to use HaloDAO?

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I think the only fee that can be incurred in transactions is the Ethereum Gas fees.

How can I get more RNBW?

  • Buying from exchanges listing the token e.g uniswap.
  • Increasing the liquidity of the platform

Conclusion

I hope you enjoy this special post for HaloDao. It helps to improve the liquidity of stable coins. 


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