CRE8R DAO AMA with HaloSwap
Primer: HaloSwap is a divine AMM inspired by Solidly mechanism, but on Ethereum. They are launching very soon. This is an AMA hosted by CRE8R DAO with HaloSwap and it seeks to explain what HaloSwap is all about and what we can expect from it.
About HaloSwap
What is HaloSwap?
Halo is an AMM inspired by Solidly mechanics
Has 3 important features:
Provides deep liquidity with extra-low fees
Capital efficient bribes and trade programs for selected assets and pools
Impermanent loss protection for major token pairs on Ethereum
Why is the name Halo?
The name has multiple meanings. It can mean:
The ring of light around the Sun or Moon
Represents the next moonshot for DeFI natives
However, the name has nothing related to the game Halo
Which chain is Halo on?
Ethereum first
Has plans to eventually go to all EVM-compatible chains
Who is the team behind HaloSwap?
The team consists of solidity veterans, crypto natives and degens who have been around the space since 2016.
The team are anons at this point in time but may change in the near future
Why start HaloSwap?
What problems are they solving?
The primary issue is to align interest (3,3) between voters and pools that generate the most fees
In the process, they also solved many existing issues with the original Solidly AMM
How were they inspired by Solidly?
Portions of the original codebase were forked from Solidly
Issues such as pool-weight manipulation are fixed after a thorough code examination
HaloSwap is like Solidly, but launched with proper safeguards in place, with (bonus) features built on top
What’s their unique advantage over other competitors?
Competitors are all ETH-based AMMs with low fees, such as Curve (for stableswaps) and Uniswap v3
Halo’s advantage is that they had found a way to efficiently combine voting power with capital-efficient bribes and trade rebates to alter the AMM landscape forever
Tokenomics
Will Halo have a token?
Yes, there will be a HALO token
The HALO token will be used for
Voting gauges to determine emission flows to whitelisted pools
Vote on governance issues relating to the protocol
When will the token launch and how?
Token will be launched within the next 4 to 6 weeks
The proposed launch plan will consist of 2 lockdrop phases on selected pools to bootstrap initial AMM liquidity and end with a community-based token sale to fund the team treasury and impermanent loss protection treasury
More details on the launch plan and the tokenomics will be released very soon
Roadmap
What’s upcoming on their roadmap? Any events that people can participate in?
HALO will launch with a lockdrop reward program
At genesis, this will be the only source of emissions for public participation
More details will be released closer to the launch
What is their vision for Halo in the long run?
HALO aims to deliver a sustainable AMM which balances the interests of traders and LPs
By channelling revenue towards veHALO stakers, the AMM drives organic demand for its governance token
In the long run, HALO wants to remove complexities for LPs by incentivizing long-term capital provision through system incentives for impermanent loss
Once the flywheel is active, HALO should become the obvious choice for projects with a higher-timeframe mindset to park their liquidity
Security
Is Halo audited?
Halo is internally audited
The codebase has also been looked through by several independent auditors from Tier 1 audit firms on an ad-hoc basis
What security measures have they taken to ensure the safety of user funds?
Whitelisting of pools
Whitelisting of bribe assets
Governance power to be decentralized eventually, but kept within the core team initially to allow for timely reaction to any adversaries
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