What is HaloDAO (RNBW) | What is HaloDAO token | What is RNBW token

In this article, we’ll discuss information about the HaloDAO project and RNBW token

HaloDAO connects traditional and decentralised finance by providing the decentralised infrastructure for next generation payments and settlement. We begin with the core money legos of Swap, Lend/Borrow, supported by Yield.

Our Thesis: The future of DeFi and crypto is one that will enable individuals to buy goods and services using asset backed stablecoins, pegged at a 1 to 1 basis with various local currencies. Very few will be willing to buy ice cream with Bitcoin.

Situation: We are still far from this future of mass adoption and no asset-backed stablecoin has achieved widespread adoption. USD pegged stablecoins have filled a large need for trading in crypto markets, but everyday users still cannot directly use it for everyday purchases.

HaloDAO aims to address these issues by:

  • Building and incentivising on and off-ramps integrations with existing wallets and exchanges.
  • Facilitating an efficient, on-demand currency exchange via On Demand Liquidity (ODL) and a stablecoin specific lending market that provides high-interest yields on local currencies.

Launching “v0”: We initially build liquidity for Asian asset-backed stablecoins, due to strong money flows and availability of ramps support in the region. As we progress in our roadmap, we will rapidly expand globally

Our initial product in V0 allows anyone to receive yields in exchange for contributing liquidity to asset-backed stablecoins pools.

Protocol Overview

HaloDAO aims to incentivize and build asset-backed stablecoin liquidity by establishing the foundational money lego of DeFi. However, rather than using ETH or BTC to generate synthetic USD stablecoins as initial protocols have done, HaloDAO will;

  1. Build an Automated Market Maker (AMM) to enable efficient trades between stablecoins
  2. Build a Lending Market to allow more capital efficient lending and borrowing of stablecoins

One effect of launching two fundamental money legos under one protocol is the ability to replicate the early “recycling” of superfluid capital that contributed to the rapid rise of Total Value Locked (TVL) in DeFi. HaloDAO aims to replicate this behavior specifically for stablecoin liquidity.

🐇 Our Mascot

Find out more about Heyhey

Get To Know HeyHey

Our mascot’s name is Heyhey. Its namesake comes from the word ‘Mabuhay’ in tagalog, a common greeting used in the Philippines, which is synonymous with ‘good life’. Heyhey was born with a sweet tooth and a spirit of adventure. To satisfy its sweet craving, Heyhey is on an intergalactic adventure to find new tasty treats. Its first stop to find these delicious treats is the Halo Planet! There he can swap, lend and borrow ingredients to put together the best mix of dessert yields found on new planets to create tastier treats.

Our gitbook and online materials represent an activity log of Heyhey’s journey with HaloDAO as we work towards the next phase of crypto expansion.

How and Where to Buy RNBW token?

RNBW token is now live on the Ethereum mainnet. The token address for RNBW is 0xe94b97b6b43639e238c851a7e693f50033efd75c. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough ETH in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step

You need a wallet address to Connect to Uniswap Decentralized Exchange, we use Metamask wallet

If you don’t have a Metamask wallet, read this article and follow the steps

What is Metamask wallet | How to Create a wallet and Use

Transfer $ETH to your new Metamask wallet from your existing wallet

Next step

Connect Metamask wallet to Uniswap Decentralized Exchange and Buy, Swap RNBW token

Contract: 0xe94b97b6b43639e238c851a7e693f50033efd75c

Read more: What is Uniswap | Beginner’s Guide on How to Use Uniswap

The top exchange for trading in RNBW token is currently Uniswap (V2) and Sushiswap

Find more information RNBW

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🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

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What is HaloDAO (RNBW) | What is HaloDAO token | What is RNBW token