Discover how HaloTrade, a key DeFi component of the Aura Network, is revolutionizing asset circulation and liquidity in the ecosystem. Learn about its features, products, and vision for the future.
Overview of Aura Network
Aura Network, a Layer 1 blockchain developed using the Cosmos SDK toolkit, aims to be a leading platform for widespread NFT adoption. Supported and funded by major players such as LD Capital, Hashed Fund, K300 Ventures, and Coin98 Ventures, Aura Network is making significant strides in the blockchain space.
Following its Mainnet launch, Aura Network introduced its first decentralized applications (dApps), with HaloTrade standing out as a pivotal DeFi component. So, what exactly is HaloTrade? Let’s delve into the details.
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Overview of HaloTrade
HaloTrade is an Automated Market Maker (AMM) Decentralized Exchange (DEX) protocol operating on the Aura Network platform, marking the ecosystem’s first DeFi project. It plays a crucial role in providing liquidity and facilitating asset exchanges within the Aura Network. HaloTrade leverages smart contracts written in CosmWasm, enabling users to access features and products through a user-friendly interface without needing direct interaction with smart contracts.
Highlights of HaloTrade
Integration of Prominent Features: HaloTrade offers three main features – Swap, Liquidity Provision, and Yield Farming. Users can easily swap assets, participate in liquidity provision to earn rewards, and explore farming opportunities to enhance their experience.
User-Friendly Interface: HaloTrade boasts an intuitive interface suitable for all user types, from DEX novices to seasoned investors.
Fast Transaction Speed: Speed is crucial in trading, and HaloTrade ensures superior order matching speed, allowing users to capitalize on opportunities without delay.
Low Gas Fees: HaloTrade minimizes transaction costs by applying the lowest possible gas fees, ensuring users save on their transactions.
Free Gas Fee Subsidies: HaloTrade offers a free gas fee subsidy program, allowing users to trade without worrying about gas costs.
Products of HaloTrade
HaloTrade provides all the essential products of a standard AMM DEX, including:
Swap: Users can exchange various assets within the Aura ecosystem with just a few clicks. Each transaction incurs a 0.3% fee for the Pool and a small Aura network fee.
Pools: Liquidity providers can deposit asset pairs into Pools to earn transaction fees (0.3% per transaction). After depositing assets, providers receive LP Token pairs.
Farm: Encourages liquidity providers to lock LP Token pairs to receive additional rewards in HaloTrade’s governance Token.
Cross-Chain Transfer: Allows users to transfer USDC and AURA Tokens between Aura Network and BNB Chain, integrated via the Celer Network bridge.
Operations on HaloTrade
All activities on HaloTrade require AURA Tokens, the primary token of the Aura network. Users can transfer USDC from BNB Chain to Aura Network and then convert USDC to AURA on HaloTrade. If users lack AURA to cover the initial transaction fee, they can request fee subsidies by clicking “Request fee grant” in the user wallet window.
Using HaloTrade
To interact with HaloTrade, users need Coin98 or Keplr wallets. HaloTrade also supports smartphone usage, connecting to the Coin98 Wallet app for signing transactions.
Roadmap
HaloTrade officially launched on August 21, 2023. Detailed information about the development team, investors, and tokenomics will be updated in due course.
Vision of HaloTrade
The launch of HaloTrade marks a significant milestone in the evolving decentralized financial market. As the first and safest decentralized exchange on the Aura network, HaloTrade sets a new standard for cryptocurrency trading on Aura Network. Its focus on delivering long-term value and innovation drives continuous analysis of competitors to inspire new product developments and upgrades.
Conclusion
HaloTrade is a vital liquidity hub in the Aura Network ecosystem, offering a user-friendly interface and a diverse range of products typical of a leading DEX. As the Aura Network ecosystem expands with more projects, the demand for Token exchanges will increase, benefiting and fostering the robust growth of HaloTrade. If you’re seeking a DeFi solution on Aura Network, HaloTrade is a choice not to be overlooked.
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