AscendEX announced the listing of the HaloDao token (RNBW) on September 13, 2021.
It will be available under the pair USDT/RNBW.
HaloDAO intends to unlock potential for non-USD stablecoins to generate permissionless on-demand liquidity. They are building their Protocol in the Balancer ecosystem.
This will enable local populations to swap and earn crypto, acting as the base layer for additional innovation for local payments.
HaloDAO provides an incentivization system embodied in a Decentralized Autonomous Organization (DAO).
The stablecoin marketplace protocol connects traditional finance and decentralized finance (DeFi) by enabling deep liquidity networks for local stablecoins and money market fund products.
The project aims to create a foundational layer for the digital economy by building an optimized Automated Market Maker (AMM) that efficiently facilitates swaps and minimizes slippage between differently priced stablecoins.
HaloDao plans to bootstrap a lending market focused on stablecoins, enabling a foundational money lego to generate local currency-derived yield.
The market will generate the yield from permissionless lending and borrowing denominated in local currencies.
With a greater supply of region-specific stablecoins, users will be able to access the permissionless Decentralised Finance (DeFi) economy, thereby lowering the barriers to entry for individual financial participation in specific regions.
RNBW is the ERC20 governance token, limited to 100,000,000 supply to be distributed over five years, permitting holders to participate in governance and acting as a claim against local stablecoin earnings of the Protocol.
About AscendEX
AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple.
Launched in 2018, AscendEX services over one million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.
AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum.
AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.
To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, visit the AscendEX website.
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