HALO Network Plan and Description

7 min readJun 9, 2021

Open-Source Code Release to GitHub

Time: 10 Jun 2021

HALO Network will officially release its open-source codebase through GitHub, together with the launching of the developer community.

The source code will be regularly updated to GitHub. The community is able to sneak peek into the activity of the development progress through GitHub.

The HALO Network SDK will also soon be disclosed through GitHub. HALO Network SDK makes it easy for developers to interact with HALO Network. The developer community will be able to conduct wallet docking and contract development easily with the SDK provided.

HashPay Wallet will go online.

Date: 10 Jun 2021

HashPay wallet is a decentralized wallet dedicated to HALO Network, which allows users to use the Halo network directly without the need to setup RPC.

HashPay supports multi-chain wallet management. User can manage their manage assets such as BTC, ETH, HT, BNB, etc. easily.

HashPay wallet is developed with optimal risk control system. It has a total wallet protection inclusive offline signing, which supports hardware & cold wallet with less network risk and extra safety.

The HashPay wallet is built-in with HALO network dApp, the intuitive UI/UX allow users to toggle between the HALO Network dApps easily and quickly through the wallet.

Feature 1: HALO Community

Date: 15 Jun 2021

The “HALO Community” is a community relationship network based on decentralized contracts. User’s relationship network is defined through the smart contract. Upon every block confirmation, the HALO Community will be rewarded.

The team is expecting with the HALO Community rewarding program, HALO network is able acquire early users and the DeFi contracts can be rapidly and quickly promoted.

Feature 2: HALO Bridge V2 will go live.

Date: 19 Jun 2021

Halo Bridge is a decentralized token cross-chain exchange contract that greatly reduces the cost of cross-chain fees while being secure and convenient.

V2 Launch Plan: Release on 19 Jun 2021

HALO Bridge V1 will disable and V2 will support the following networks and the corresponding token conversion:

BSC Network to HALO Network
HALO Network to BSC Network
USDC ⇔ HRC-USDC
USDT ⇔HRC-USDT
BETH ⇔ HRC-ETH
BEP20-HO ⇔ HO
BEP20-HOR ⇔ HOR

Subsequent versions will be open to HECO/EOS/TRON network cross-chain exchange. Please look forward to it.

Listing on PancakeSwap (BEP20) of HO/USDT Swap

Date: 20 June 2021

Listing on PancakeSwap of HO/USDT trading pair, user can swap USDT/HO on Pancake.

Node Staking

Date: 20 June 2021

Users can participate in POS mining by staking a minimum of 100HO to become a pledge node, the mining reward will be obtained in real time according to the block production.

The POS mining involves calling the HALO community relationship contract to generate POS community power. Therefore, the community network can also participate in POS mining, and the community power reward is issued every 24 hours according to the community power.

Computation of Community Network Computing Power

By removing the user who has the largest computing power that bounded to the community, the leftover is the computing power of the community.

The initial block reward is 1.58HO, the daily output is 27397HO. The community can initiate of block rewards adjustment through a proposal vote.

Users who join the Halo community will receive 100% POS rewards when staking HO; otherwise, will receive 90% POS rewards when staking HO.

HOSWAP — AMM will go live

Date：30 June 2021

The upgrade will introduce HALO Decentralized Exchange (HOSWAP).

The HOSWAP is developed based on the dual model mechanism of AMM.

Follow trading pair will be listed on HOSWAP on June 30th 2021:

USDT/USDC
USDC/HO
USDC/HOR
USDC/HOS

Total of 1000 HOS tokens will be issued daily for users who participate in the above trading pairs.

Phase 1 of HOS reward will be completed in 50 days. With a total of 100,000 tokens issued. Phase 2 will be opened after the reward has been issued, the number and method of trading reward will be adjusted in Phase 2.

HOS mining will also call on HALO community smart contract, total of 1000 HOS tokens will be issued daily according to the community computing power every 24 hours.

GYRO Trading will go live.

Date: 15 July 2021

The GYRO trading contract is a trading model with a fixed price growth. The first trading pair is USDC/HO, the starting price is determined by the AMM mechanism when the contract is opened. The price will be growing at a fixed rate depending on the volume of transactions.

The GYRO trading provides the possibility to trade HO at a premium. Participating users will be rewarded with HOST tokens.

It is believed that gyro trading will drive a steady increase in the value of the governance token HO.

Feature 3: Halo Oracle

Date: 31 July 2021

Halo Oracle provides centralized data isolated from the blockchain network. When HALO-NODE goes online, an oracle contract with specified data must be configured. The relevant data can be called for free through the smart contract HALO Network, and he data accuracy can reach in seconds.

Initially, HALO-NODE will configure the following data contracts:

COINBASE-HUB
BITMAX-HUB
HUOBI-HUB
BINANCE-HUB
ASX-HUB
NDX-HUB

When the contract calls the data, 67% of the online nodes will synchronized to verify the reliability of the data obtain the weight of validation deviation at the same time. The contract can use the data according to the weight value of deviation.

Halo Oracle of HALO Network will greatly improve the security of the DeFi smart contract and reduce the cost of data usage.

The revolutionary blockchain infrastructure service brought by the HPOS consensus algorithm will attract more financial instruments to emerge into the decentralization wave.

HALO Stablecoin (HALO USD — HOUSD)

The HALO stable coin (represented below by currency code HOUSD) is issued by staking digital assets on the HALO stable coin contract. HALO Labs launch the HOUSD mainly to address the decentralized access of more localized fiat currencies into contract within the HALO Network and then to other blockchain network, to obtain the localized financial capabilities on the smart contract in the HALO Network and the cross-chain asset contracts.

HALO stable coin is not a single digital asset, but a series of digital assets. V1 version will release the following stable currency.

HOUSD — U.S. Dollar＄
HOEUR — Euro €
HOCNY — CNY ¥
HOGBP — British Pound £
HOJPY — Japanese Yen ¥
HOINR — Indian Rupee₹
HOTWD — New Taiwan NT$
HOHKD — Hong Kong Dollar HK$
HOKRW 韩 — South Korean Won원
HOSGD — Singapore Dollar S$
HOMYR — Malaysia Ringgit M$
HOIDR — Indonesia Rupiah Rp
HOVND — Vietnam Dong ₫
HOAUD — Australia Dollar A$
HOCAD — Canada dollar C$
HOZAR — South Africa Rand R
HOAED — UAE Dirhams د.إ
HOTHB — Thai Baht ฿
HORUB — Russia Ruble ₽

Supply and Destroy (Burn) of HOUSD

The initial issuance of all the stable coins is 0, and each token is issued by the user through a coinage contract. The V1 coinage function supports all the currencies of HALO Bridge. The coins are minted according to the real time exchange rate based on the HALO-HUB-ASX-HUB (Australian Exchange - FX Trading Data Tray). The staking assets that are used for minting their coins will be decentralize managed through contacts to ensure asset security.

Users can exchange HOUSD for other digital assets at a real-time exchange rate, and the HOUSD will be destroyed after exchange.

HOSWAP — HMM will go live.

Date：31st July 2021

The launch of HOSWAP-HMM will provide users with a more user-friendly decentralized trading model. The HMM model will query the quotes of the oracle machines (COINBASE-HUB, BITMAX-HUB, HUOBI-HUB, BINANCE-HUB, ASX-HUB, NDX-HUB) and provide users with decentralized trading functions for BTC/ETH/BNB/HT tokens.

Users will be rewarded with HOSH tokens for participating in transactions;

HALO Stock will go live.

Date: 15th August 2021

HALO stock contract are decentralized equity trading contracts implemented through the HOSWAP- HMM model. Since the oracle machine of HALO-NODE version 1 only supports the NASDAQ stock exchange, the whitelist of HALO stock contract in version 1 will be the NASDAQ stock. Naming rules for individual stock tokens is to add the prefix of HRC in front of the stock code, for example, Apple’s stock code in NASDAQ is: AAPL, then the token within the HALO stock contract is named HRC-AAPL. When the user trades, it is a transaction with HOSTKPOOL and HOLPPOOL.

Yield Farming

Users who provide liquidity and transactions will be rewarded with HOSTK. More details will be released before the contract goes live.

HALO Lend

Date：31st August 2021

HALO Lending is a blockchain bank implemented through the Halo system, users can deposit and borrow coins through the contract, Halo lending whitelist for the contract token issued directly through the Halo system and the token supported by the Halo Bridge, HALO Lending follows international accounting standards, following the zero-sum principle does not set a fixed interest rate on borrowing and deposit, in order to protect the balance of the account, the interest rate will vary with the changes in the total amount of borrowing and deposit.