## What Is HaloDAO (RNBW)?

HaloDAO Protocol is a decentralised application platform designed to provide stablecoins optimised swaps between each other and against other crypto assets via an automated market maker. It also has the function of enabling stablecoin lending markets.

The network is launched initially on ethereum in its version zero and will be launched on binance smart chain and polygon.

RNBW is the native utility token that is used for:
1) Governance participation to determine how network resources are allocated
2) When actively staked in vesting and voting in governance, it earns a portion of stablecoin profits
3) Collateral for Lending Markets
4) Collateral for AMM liquidity

HaloDAO Protocol includes:
5) A stablecoin optimised Automated Market Maker (AMM) with a custom bonding curve catered to swapping between differently priced stablecoins
6) A stablecoin risk profile optimised Lending Market that increases collateral utility compared to volatile cryptocurrencies
7) Optimistic governance (off chain voting, on chain execution)
8) RNBW liquidity rewards and vesting via the xRNBW vesting token

Number of RNBW tokens in circulation: HaloDAO Protocol launched on the mainnet on June 24, 2021 capped at 100 million token supply.

### Who Are the Founders of HaloDAO Protocol?

Founders: HaloDAO Protocol is launched by the HaloDAO Foundation, whose founder and Protocol Lead is Jun Ming Yong.
Jun has had a lifelong fascination with increasing financial inclusion and has previously worked at Ethereum Venture Studio ConsenSys. His co-founder Christopher Verceles, also from ConsenSys, joined him to work on HaloDAO. Christopher previously worked on Project i2i with Unionbank
The purpose of HaloDAO is to ensure that local stablecoin liquidity can be built. Currently there is no other stablecoin project that has succeeded beyond the USD. HaloDAO aims to work with regulated e-money partners such as TrustToken, to bridge the gap between traditional finance and decentralised finance.