Decentralized Wallet KuCoin Wallet Announced on April 3 that it changed its name to Halo Wallet and launched a new SocialFi ecosystem. According to the announcement, the newly independent Halo Wallet has received a new round of funding from various investors, including KuCoin Ventures, IDG, HashKey Capital, and other Web3 strategic partners.
1/ We are pleased to announce that #KuCoinWallet has officially changed its name to Halo Wallet!
With a new name, new logo, new user interface, new roadmap, #HaloWallet is ready to innovate the next stage of #Web3 social #crypto wallet!
More informationโฌ๏ธhttps://t.co/GoYVvKdYoi
โ Halo Wallet (@HaloDotSocial) April 3, 2023
The rebranding exercise is intended to expand Halo Wallet's focus from being a Web3 wallet to a broader SocialFi ecosystem. The wallet seeks to integrate a variety of 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.
Going forward, Halo Wallet plans to gradually transfer the governance rights of its SocialFi ecosystem to the community through a decentralized autonomous organization, or DAO. According to the company, the implementation of a DAO governance model promises to motivate a greater number of innovators and users to explore new financial models and business opportunities, thus fostering an active SocialFi ecosystem.
Halo Wallet head Jeff Haul noted that decentralized wallets are the main entry point for users into the world of Web3. According to him, the revamped Halo Wallet offers a number of enhanced social features that help users create a complete social identity and locate quality information and leads on social media.
Related: KuCoin Leads $10 Million Funding for Chinese Yuan Stablecoin Issuer
KuCoin Wallet has made significant progress in the decentralized wallet domain since his debut in June 2022. Since its launch, the decentralized wallet has offered comprehensive coverage for both mobile and PC, added support for tens of thousands of tokens, and non-fungible tokens (NFTs) assets, implemented features such as native cross-chain swapping and betand amassed a user base of over 1 million people.
In August 2022, KuCoin Wallet integrated the automated market maker functionality of 1 inch network to improve token exchanges. The partnership also gave KuCoin Wallet users access to the 1 Inch Limit Order Protocol functionality, which allowed orders to be filled at a predetermined price when it was reached. This included limit orders without gas for Ether (ETH).
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