Aura Network is a Layer 1 built using the Cosmos SDK toolkit. Aura aims to be the platform to bring NFTs to wider adoption. Aura Network receives support and investment from a number of large funds such as LD Capital, Hashed Fund, K300 Ventures, Coin98 Ventures,…
After Mainnet, Aura Network also had its first dApps, the project I want to introduce today is HaloTrade. HaloTrade is an important DeFi piece in the ecosystem’s asset circulation. So what is HaloTrade? Let’s find out in this article!
To understand more about HaloTrade, you can read the following articles:
- What is Aura Network (AURA)? Aura Network Cryptocurrency Overview
- What is Cosmos (ATOM)? Cosmos Cryptocurrency Overview
- What is Celer Network (CELR)? Celer Network Cryptocurrency Overview
- What is Inter Blockchain Communication (IBC)? Cosmos’s Core Power
What is HaloTrade?
Overview of HaloTrade
HaloTrade is an AMM DEX built on the Aura Network platform. HaloTrade is also the first DeFi project of the Aura ecosystem. It is also a reservoir of liquidity and helps exchange value between assets in the ecosystem.
Essentially, HaloTrade works made up of a set of smart contracts written in CosmWasm To allow users to easily access all features, the product is offered through a very user-friendly interface without the need for direct interaction with the smart contract.
HaloTrade offers all the products that all AMM DEXs on the market have. Such products as trading (swap), liquidity provision, Farming. In addition, on HaloTrade there is also a bridge between Aura Network and BNB Chain, and many other chains will be integrated in the near future.
All activities on HaloTrade must be paid in AURA Token, the main token of the Aura network. You can transfer your USDC from BNB Chain to Aura Network, then directly from USDC to AURA right on HaloTrade. If you don’t have some AURA as a fee for your first trade on HaloTrade, you can request a fee subsidy by clicking “Request fee grant” on the user wallet window.
Currently, when interacting with HaloTrade you need a Coin98 or Keplr wallet. You can also use HaloTrade right on your Smartphone, then it will connect to the Coin98 Wallet App to sign transactions.
Products of Halo Trade
HaloTrade brings users the full range of products appearing on AMM DEX. And those products will be listed as follows:
- Swap: Allows users to exchange all types of assets on the Aura ecosystem with just a few clicks. Each user transaction order will cost 0.3% to the Pool and a small amount of Aura network fees.
- Pools: Liquidity providers can deposit assets into the Pool in pairs as usual to earn transaction fees, the Pool will receive a 0.3% fee for each transaction. The liquidity provider will receive the LP Token pair after depositing the assets.
- Farm: A product that encourages providers to lock LP Token pairs to receive additional HaloTrade governance token emissions.
- Cross chain transfer: With this product, users can transfer USDC and AURA Tokens back and forth between Aura network and BNB Chain. This product is integrated from the Celer Network bridge.
Development Roadmap
HaloTrade platform officially launched on August 21, 2023.
Core Team
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Investors
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Tokenomics
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HaloTrade’s Information Channel
- Website: https://halotrade.zone/swap
- Twitter: https://twitter.com/HaloTradeZone
- Discord: https://discord.gg/nvexXENNJz
- Blog:
Summary
HaloTrade is a liquidity center, playing a very important role in the Aura Network ecosystem. The project develops a friendly interface and provides a full range of products of an exemplary DEX for users to experience. HaloTrade is just the first step in the Aura Network ecosystem. When the ecosystem expands with more projects, HaloTrade will be the project to benefit from the increased demand for Token exchange.
So I have clarified what HaloTrade is? HaloTrade cryptocurrency overview. Hope this article brings you a lot of useful information!