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.
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/swap between asset-backed stablecoins at low slippage
Earn yield on local asset backed stablecoins (“local currency farming”).
Any RNBW token holder will be able to vote on proposals that govern the network.
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.
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.
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.
Users can farm on app.halodao.com/#farm to earn rewards in xRNBW and claim it for RNBW
There are two ways of getting xRNBW:
by providing liquidity on the Farm page
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.
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.