On April 3, KuCoin Wallet, a decentralized wallet, announced that it was renamed Halo Wallet and launched a new SocialFi ecosystem. According to the announcement, the newly independent Halo Wallet has received a new round of financing from multiple investors, including KuCoin Ventures, IDG, HashKey Capital, and other Web3 strategic partners.
The rebranding aims to expand Halo Wallet's focus from a Web3 wallet to support the broader SocialFi ecosystem. The wallet seeks to integrate various on-chain and off-chain social media protocols, such as Lens and Twitter, to create a Web3 decentralized identifier (DID) system and engage with popular influencers.
In the future, Halo Wallet plans to gradually hand over the governance of its SocialFi ecosystem to the community through a decentralized autonomous organization (DAO). According to the company, implementing a DAO governance model is expected to inspire more innovators and users to explore new financial models and trading opportunities, thereby fostering a vibrant SocialFi ecosystem.
Jeff Haul, head of Halo Wallet, pointed out that decentralized wallets are the main entry point for users into the Web3 world. According to Haul, the revamped Halo Wallet offers a range of enhanced social features that help users create a comprehensive social identity and locate quality information and leads on social networks. Since KuCoin Wallet was launched last June, it has made great progress in the field of decentralized wallets. Since its launch, the decentralized wallet has fully covered mobile and PC terminals, supported tens of thousands of tokens and non-homogeneous token assets, launched functions such as native cross-chain swaps and pledges, and accumulated more than 5 million users. 1 million people.
In August, KuCoin Wallet integrated 1inch Network’s automated market maker functionality to improve token swaps. The partnership also provides KuCoin wallet users with access to 1inch’s limit order protocol feature, which allows orders to be executed when a predetermined price is reached. This includes gas-free limit orders for Ethereum.
