HaloDAO update: RNBW Live price, price chart, news and markets

What Is HaloDAO (RNBW)?

HaloDAO, also known as RNBW, is a decentralized application platform that facilitates optimized swaps between stablecoins and other crypto assets through an automated market maker. It also allows for stablecoin lending markets.

Initially launched on Ethereum as version zero, HaloDAO will soon be available on Binance Smart Chain and Polygon.

RNBW serves as the native utility token for HaloDAO and has various use cases, including participating in governance, earning stablecoin profits through staking and voting, providing collateral for lending markets, and adding liquidity to the automated market maker.

The HaloDAO Protocol features a stablecoin-optimized Automated Market Maker (AMM) with a custom bonding curve for swapping between differently priced stablecoins. It also includes a stablecoin risk profile-optimized Lending Market that enhances collateral utility compared to volatile cryptocurrencies. The protocol utilizes an optimistic governance model with off-chain voting and on-chain execution. Additionally, users can earn RNBW liquidity rewards and vesting through the xRNBW vesting token.

The total supply of RNBW tokens is capped at 100 million, and the mainnet launch of the HaloDAO Protocol took place on June 24, 2021.

Who Are the Founders of HaloDAO Protocol?

HaloDAO Protocol is launched by the HaloDAO Foundation, led by its founder and Protocol Lead, Jun Ming Yong. Jun, formerly of Ethereum Venture Studio ConsenSys, is passionate about increasing financial inclusion. Christopher Verceles, a co-founder of HaloDAO and also from ConsenSys, has experience working on Project i2i with Unionbank.

The main objective of HaloDAO is to establish liquidity for local stablecoins. Unlike other projects focused primarily on USD, HaloDAO aims to collaborate with regulated e-money partners like TrustToken to bridge the gap between traditional finance and decentralized finance.