[PRESS RELEASE – Singapore, Singapore, 11th June 2021]
HaloDAO, a comprehensive decentralized finance protocol designed to create asset agnostic global money fund networks, will hold its anticipated Initial DEX Offering (IDO) on June 24, launching on SushiSwap’s recently deployed MISO Launchpad at 12 PM UTC.
The whitelisting process is currently open with 1000 slots available on a first-come, first-served basis. In order to be able to claim HaloDAO’s RNBW tokens, participants must pass through KYC verification. The whitelist will close on June 16 at 12:00 AM UTC. Details of the IDO, including sums to be raised, will be announced three days before the IDO itself.
The RNBW token, released as an ERC-20 on Ethereum, will be the HaloDAO protocol’s governance token. Its holders will be able to make important decisions about the platform, as well as accrue some of the value generated by its activity.
“We’re excited to be among the first projects launching on SushiSwap’s new MISO platform,” said Christopher Verceles, co-founder of HaloDAO. “It’s the perfect tool to bootstrap new communities, and the support from one of the most reputable community DAOs out there is an important signal for us.”
HaloDAO was founded by Yong Jun Ming and Christopher Verceles, formerly of ConsenSys. The project aims to create liquid DeFi markets for stablecoins beyond the US Dollar. The company plans to focus initially on Asian currencies and rapidly provide support for other asset-backed stablecoins.
The project aims to create an all-in-one DeFi ecosystem for swapping, borrowing, lending, and yield generation. By integrating stablecoins of currencies like the Hong Kong dollar, Singapore dollar, and Indonesian rupiah, HaloDAO will become among the only markets across both DeFi and CeFi to incentivize liquidity for non-USD currencies. This will ease access to crypto for potential users in Asia and worldwide, fostering adoption.
HaloDAO aims to build inclusive Web 3.0 infrastructure to bridge traditional and permissionless finance. We do this by building a stablecoin optimized Automated Market Maker (AMM), to facilitate efficient, on-demand currency exchange and a stablecoin specific lending market that provides high-interest yields on local currencies.