Place/Date: - November 16th, 2021 at 6:52 am UTC · 3 min read
The DeFi market will continue to ramp up in the second half of 2021. With the popularity of DeFi services has surged, resulting in a massive increase in the overall potential of fully decentralised financial services (based on cryptocurrencies). On November 9, HOSwap (HALO decentralised exchange) has attracted industry attention with the official launch of its cross-chain LP contract module.
What changes will halo network bring to the defi ecosystem as a new entrant? Where does HOSwap prefer to be?
Through the unique HALO bridge mechanism, HALO enables LP users on other chains to not only gain LP rewards by increasing liquidity on multiple chains through HALO, but also enjoy a high performance and low cost cross-chain trading experience on HOSwap.
With the rise of many public chain ecosystems, the ability to disrupt the isolation state of public chains and to create an LP contract infrastructure where assets can be exchanged between different chain is unviable on DeFi’s long and rapid development path. HOSwap, which facilitates cross-chain LP and exchange of assets on other chains, could become the “traffic sanctuary” at this time. HOSwap will gradually expand its services to other eco-chains including BSC, ETH and BTC in the future in order to achieve a widespread ecological integration in the cryptocurrency.
Both CEX and DEX are able to use the HOSwap ecosystem and enjoy the cross-chain compatibility benefits of the HALO network.
HOSwap has already launched the cross-chain of BSC-HO/USDT LP, users who has added BSC-HO/USDT liquidity on Pancakeswap may cross-chain the BSC-HO/USDT Cake-LP tokens to the HALO chain via HALO bridge, then use the cake-LP to participate LP mining pool on HOSWAP.
Furthermore, in order to maintain the long-term sustainability of the HALO ecosystem, after cross-chain is successful, the original PancakSwap’s liquidity token, Cake-LP, will be sent to the burnt address on BSC network for destruction.
HOSwap has connected the upper and lower levels of DeFi’s industry that will contribute to further enriching the ecosystem. Moving forward, HOSwap will continue to explore new possibilities with a user-centric approach, achieving efficient integration with CEX and DEX, practicing multiple application scenarios and establishing a strong connection between users and the HALO ecosystem.
HOS is the governance token of HOSwap, as well as the ultimate carrier of the value for the entire HALO ecosystem. With the expansion of HALO eco-application, HOS will be increasingly be used in various scenarios and its value will be greatly enhanced.
In the future, HOS will be used in various scenarios and applications, such as loan insurance derivatives.HOS is the value medium of the multi-purpose HOSwap, not only for value trading, which is significantly more beneficial than the existing DEX platform.
Users are the core of HOSwap and being transparent is HOSwap attitude. HOSwap has established itself as a core competency in a range of DeFi environments. As we know from the cross-chain LP, the goal of the HALO network is to create a decentralised environment that is ‘harmonious but not uniform’. As a front-end application of HALO, HOSwap is expected to shine in the future of cryptocurrency industry.