KuCoin Wallet spins off from KuCoin exchange, renames as Halo Wallet

Decentralized wallet KuCoin Wallet announced on Apr. 3 that it has rebranded arsenic Halo Wallet and launched a caller SocialFi ecosystem. According to the announcement, the recently autarkic Halo Wallet received a caller circular of financing from respective investors, including KuCoin Ventures, IDG, HashKey Capital, and different Web3 strategical partners. 

The rebranding workout aims to grow Halo Wallet's absorption from being a Web3 wallet to a broader SocialFi ecosystem. The wallet seeks to integrate a assortment of on-chain and off-chain societal media protocols, specified arsenic Lens and Twitter, to make a Web3 decentralized identifier (DID) strategy and prosecute with fashionable influencers.

In the future, Halo Wallet plans to gradually transportation governance rights of its SocialFi ecosystem to the assemblage done a decentralized autonomous organization, oregon DAO. According to the company, implementing a DAO governance exemplary promises to motivate a larger fig of innovators and users to research caller fiscal models and trading opportunities, thereby fostering an progressive SocialFi ecosystem. 

The caput of Halo Wallet, Jeff Haul, noted that decentralized wallets are the superior introduction constituent for users into the satellite of Web3. According to him, the revamped Halo Wallet offers an array of enhanced societal features that assistance users successful creating a well-rounded societal individuality and locating prime accusation and prospects connected societal networks.

Related: KuCoin leads $10M backing for Chinese yuan stablecoin issuer

KuCoin Wallet has achieved important advancement successful the decentralized wallet domain since its debut successful June 2022. Since its launch, the decentralized wallet has offered broad sum for some mobile and PC, incorporated assistance for tens of thousands of tokens and non-fungible tokens (NFT) assets, rolled retired features similar autochthonal cross-chain swap and staking, and amassed a idiosyncratic basal of much than 1 cardinal individuals.

In August 2022, KuCoin Wallet integrated the automated marketplace shaper functionality of 1inch Network to amended token swaps. The concern besides provided KuCoin Wallet users with entree to 1inch's Limit Order Protocol functionality, which allowed orders to beryllium filled astatine a predetermined terms erstwhile it was reached. This included gasless bounds orders for Ether (ETH).