Thank you to everyone who participated in the HaloSwap! If you executed a trade during the HaloSwap, you will be receiving a $HALO Card from Tales of Terra, created specially and uniquely for this LBP. So be on the lookout for your memorable NFT — a little piece of history!
One of the best things about the HaloSwap is that everyone got to purchase at the price they felt comfortable with and no one was burned by bots or low liquidity price spikes. We saw a majority of volume on the second and third day around 6–8 cents. With fair price discovery throughout the 3 days, $HALO’s 50:50 liquidity was found at the price of 0.075 UST. We ended the LBP with a total of 2.65M UST swapped for 30.4M HALO — raising $530,000 for charity!
Thanks to the interest in $HALO , our core team is now almost fully funded with 2 years of runway. This allows us to scale up our developer team, Angel Ambassadors, and partnership efforts as we continue to create innovative financial solutions for as many charities as possible. All $HALO holders contributed to Angel’s very bright future. We are so excited to have you a part of this team!
In total we’ve raised $4.4M for development and $1.16M for charity with less than 50% of our allocated token sale supply. The remaining will be used for protocol owned liquidity / bonds as well as our previously announced Pylon Pool.
Our Liquid Pylon Pool will round out development funding, but primarily serve as a charitable fundraiser for the AP Endowment.
What’s next for $HALO ?
The $HALO you acquired during the HaloSwap is immediately available for use. You will shortly be able to trade the $HALO token on our own webapp, where those interested in governing the protocol may also stake their $HALO, earning yield and taking part in Angel Protocol governance. In addition to being live with on-chain voting, we also have a forum to discuss governance proposals, such as how to allocate relief funding from the AP Endowment for Typhoon Rai victims.
We strongly encourage you use our soon to launch Governance Forum to discuss possible proposals before locking up 5,000 $HALO on any polls. Governance staking not only allows you to vote, but to also earn 5% of the yield generated by all the endowments of Angel Protocol.
TL;DR: The $HALO you purchased raised funds for a charitable endowment that you help control while being rewarded for participation. Win & help win.
Loop DEX; Where HALO Liquidity Sits
We have moved our protocol’s liquidity to the Loop DEX. While you will be able to trade $HALO on our web app, there are a lot of interesting strategies on the Loop DEX available to $HALO holders.
Trading $HALO can happen directly on Loop’s DEX. This will be the same prices that our web app will display. There is no difference between trading on Loop or on our homepage, since you will be trading in the same liquidity pool.
On Loop’s DEX, you can also add liquidity to the liquidity pool for those looking to trade $HALO. To add liquidity, deposit your $HALO with the same amount of value in $UST.
Providing liquidity will let you earn a percentage of fees from every $HALO trade.
It is key to understand what a liquidity position means. When providing liquidity to Loop, you will receive Liquidity Provider (LP) tokens that represent your contribution to the underlying liquidity.
Whenever someone buys $HALO , they will be buying from you. When someone sells $HALO they will be selling it to you. Whenever $HALO is being bought, you will be selling $HALO and receive back UST. It is important to know the relationship of LPs and Traders.
To reward those who provide liquidity, Loop allows LPs to “farm” rewards. Those who want to earn more than just the transaction fees can stake these LP tokens and earn additional LOOP and $HALO tokens!
Angel Protocol has provided 1,000,000 $HALO tokens to be rewarded to those who stake their LP in Loop’s farm over one month. Loop will be matching 1:1 at the current dollar amount of $HALO provided to the pool with LOOP tokens to farm as well. You will earn these rewards proportionally to your share of the Liquidity Pool.
Hope this helps you better understand both the power of $HALO and the strategies to help you earn more!
Win and help win.