Several products pull the strings behind the offerings of a blockchain. In the case of HALO Network, 8 different products are working in tandem to achieve the objectives of the digital ledger.
This content looks at the different products making up HALO Network.
1) HALO Bridge
Blockchains don’t operate in isolation; they communicate with other chains through bridges. HALO Bridge is the apparatus that makes this happen on HALO Network. The cross-chain bridge relies on smart contracts for communication with other chains.
HALO Bridge is an upgrade on existing cross-chain bridges as it’s efficient and fast. This product provides users of HALO Network with the opportunity to interact with other chains in a fast and transparent manner.
Several attributes make HALO Bridge more superior to its counterpart on other chains. For instance, the reliance on consensus voting.
Cross-chain transactions will only happen on the bridge when HO holders participate in consensus voting. For one, it reduces the likelihood of nefarious activities taking solace within the blockchain.
2) HALO Community
This is one of the products that reflect HALO Network’s DeFi-friendly status. Through HALO Community, a decentralized framework is made available for DeFi protocols on the blockchain. With the many incentives available to community members, HALO Community will be brimming with users – an attribute desired by DeFi dApps.
HALO Community can also be the preferred route for users looking to network with like-minded individuals. Users are real people as checks and balances are put in place to ensure the validity of a user’s claim. To join the HALO Community, a user needs to generate a community key, then send the key to the preferred HALO Community user.
3) HALO Lending
HALO Network’s support for the growth of the DeFi space is visible in the existence of the HALO Lending. Yes, there are lending protocols, but HALO Lending isn’t out to rival these dApps. The product hopes to allow for the growth of these lending platforms.
On HALO Lending, incentives are used to attract deposits into the lending pool. With the aid of smart contracts, this pool is accessible to lenders for a certain percentage.
Due to the relatively cheap commission, the ecosystem uses lending bids to select the winning lender. HALO Network DAO will be responsible for picking the winning bid.
Borrowers can then proceed to access such loans using collaterals that are bigger than the loan requested. HALO Lending uses a meticulous and intricate system to deliver on its DeFi mandate.
4) HALO Stocks
HALO Network isn’t playing around with its plans to be the preferred blockchain for DeFi protocols. The HALO Stocks provide a DeFi route to stock trading for anyone interested. You can buy your favorite Nasdaq listed stocks through this HALO Network.
5) HALO Stable Coin
This HALO Network's product provides users with an array of stable coins using the price feeds of reliable data from Australia Exchange. Unlike the current arrangement that sees the existence of only the USD stable coin on decentralized platforms, HALO Stable Coin will allow users to choose more localized stables, so there’s no need to do multiple conversions.
6) POS Node
HALO Network has a product dedicated to implementing POS mining on the blockchain. Through POS mining, participants get incentivized while being a part of the decision-making of the blockchain. For users to leverage the perks of the POS Node, they have to pledge their HO tokens. However, unlike what’s obtainable on other blockchains, there’s no lockup period. This means users don’t have to endure any waiting time to access their pledged assets.
HALO Network’s main DEX, HOSWAP is one of the products driving the adoption of the digital ledger. The decentralized exchange combines the popular AMM model with the more eccentric HMM model to deliver a more robust trading experience.
On HOSWAP, users get access to new functions like HLAC, an attribute that guarantees capital efficiency when applied. There’s also the range order – an attribute that will draw the CeFi crowd since it is an improvement on the limit order.
Liquidity providers on HOSWAP are in for a pleasant surprise with the multiple LP rates. This will bolster the flexibility of the DEX.
8) HALO Oracle
This product powers the data needs of HALO Network. HALO Oracle provides data from multiple sources, ensuring the decentralization of the blockchain.
HALO Oracle uses two different modes – on-chain and off-chain convergence – to ensure the accuracy of the data provided. Besides the convergence modes, the decentralized data oracle relies on nodes pledged tokens to ascertain the credibility of data obtained from nodes. This makes HALO Oracle a good fit for DeFi dApps using HALO Network’s infrastructure.
Like significant parts of an efficient machine, these products make HALO Network the place to be for DeFi protocols. Each brings something to the digital ledger, resulting in a chain that’s agile and adaptable.
Follow HALO Network and stay up-to-date:
🔘 Official Website: https://halo.land
🔘 Telegram Group: https://t.me/HALONetwork
🔘 Telegram Channel: https://t.me/HALONetwork_news
🔘 Twitter: https://twitter.com/network_halo
🔘 Medium: https://halonetwork.medium.com
🔘 Reddit: https://www.reddit.com/r/halonetwork
🔘 Discord: https://discord.gg/7rMEbWzacd