🤔 FAQs

We are committed to and focused on mass adoption by making the DeFi experience seamless for users

How is HaloDAO different from other DeFi protocols?

HaloDAO aims to enable three fundamental consumer use cases of Shopping, Spending and Saving as we move down our roadmap. However, in order to enable those high level use cases, we first need to build the permissionless liquidity that will enable users to easily access the DeFi economy, thereby lowering one of the barriers to individual financial participation in each region.

What can users do on HaloDAO?

Supply Liquidity

HaloDAO will incentivise liquidity provision and trading between local asset-backed stablecoins and important pairings between those stablecoins and popular currencies, such as ETH, WBTC, USDC, USDT, etc.

Trade

Trade/swap between asset-backed stablecoins at low slippage

Lend/Borrow

Coming Soon!

Earn yield on local asset backed stablecoins (“local currency farming”).

Vote

Any RNBW token holder will be able to vote on proposals that govern the network.

What is RNBW (Rainbow Candy)?

RNBW is the ERC20 governance token with an initial supply of 100,000,000. It is mintable as long as the cap is not locked by governance vote. The initial supply will be distributed over 5 years.

What are RNBW Rewards?

Liquidity providers (LPs) earn RNBW tokens that are auto vested in HaloDAO's Rainbow vesting contract. The longer an LP vests, the more RNBW is earned. The best part is that there is no lockup period whatsoever, unlike other protocols. The next section immediately below explains how this unique vesting mechanism works.

What is the Rainbow Pool?

When users provide liquidity to any of HaloDAO’s products, they will automatically earn RNBW proportionate to their liquidity provided. That RNBW will be automatically vested in the Rainbow Contract. Read more about how that works here.

How do I get RNBW tokens?

Users can farm on app.halodao.com/#farm to earn rewards in xRNBW and claim it for RNBW

How do I get xRNBW?

There are two ways of getting xRNBW:

What is the difference between RNBW and xRNBW tokens?

RNBW is the governance token of the HaloDAO protocol, while xRNBW functions as a vesting token and a claim on underlying RNBW rewards tokens first earned by staking LP tokens. Read more on how that works here and here.

Can I claim my RNBW Rewards anytime?

Yes! While RNBW rewards are auto vested into the Rainbow contract, it is not locked and it can be claimed anytime. Read about it here.

Does HaloDAO support other networks aside from Ethereum?

Yes! See our Bridges to learn how to send tokens to and from currently supported networks and Roadmap to see which networks we will be supporting next.