With its new name, Halo Wallet, it aims to expand its focus from the Web to community finance, or SocialFi. On April 3, the broadcasted KuCoin Wallet declared that it had changed its name to Halo and had introduced a new social network. As per the release, a group of shareholders, including KuCoin Investments, and the other Web partner companies, contributed to the funding of the recently independent Halo Wallet.
Halo Wallet’s goal will change from serving as a Web3 pocketbook to serving a larger SocialFi network as a result of the relaunch. To build a Web3 decentralized identity (DID) network and interact with well-known influencers, the pocket aims to incorporate several off-chain and on-chain media guidelines, including Twitter.
Guidelines Of The Halo Wallet That Replaces Kucoin
Halo Wallet intends to use a decentralized autonomous organization, or DAO, to progressively hand over control of the SocialFi network to the public over time. The company claims that adopting a DAO system of governance will encourage more developers and customers to investigate cutting-edge financial projections and market opportunities, thereby developing a vibrant SocialFi habitat. Since its launch in June of last year, KuCoin has made tremendous advancements in the scattered wallet space. Since its introduction, the decentralized pocket has provided thorough support for both phones and computers, added support for hundreds of currencies and token assets, introduced capabilities like native bridge swaps and betting, and accumulated a customer base of at least a million people.
To enhance token swaps, KuCoin Wallet included the computerized market maker capability of a 1-inch Network in August. The collaboration also gave KuCoin Wallet customers access to the Limit Order Rule feature of 1-inch, which enables bids to be executed at a set price while it is met. Gasless limit requests for Ethereum are included in this.
