Singapore, Singapore--(Newsfile Corp. - May 16, 2021) - Halo Labs received a strategic investment of US$10 million from Ace Peak Capital Group's Chairman, Mr Levin Lee Keng Weng. The investment was completed on May 14, 2021. Through this investment, Ace Peak has obtained HO787381 governance tokens.
To view an enhanced version of this graphic, please visit:
The Halo Network mainnet was launched on April 19 to start the global linkage creation coin minting, and the coin minting is still in progress. Halo Network adopts dual-mode mobile innovative transaction management, cross-chain swap, a new HPOS consensus mechanism and native oracles.
Halo HUB consists of three objectives, namely: the improvement of the basic layer enables the halo system to have the basic conditions to access traditional financial tools and to achieve a more efficient and low-cost transaction architecture; the halo system creates an integrated, Decentralized Finance (DeFi) series at the application level Tool flow; traditional financial tools can obtain basic data and trading capabilities through related supporting tools.
Last year was a lively year for the blockchain market, and COVID-19 accelerated the digital transformation. There is some evidence that 2021 will be more decisive for the future development of the crypto world. The king of all cryptocurrencies is of course Bitcoin, and its dynamics will affect the entire market. Many events, including crypto-specific and mainstream events, have emerged as catalysts for Bitcoin price movements.
One of the reasons for such huge growth in recent months is the support of institutional investors, who are willing to hedge against fluctuations in traditional asset classes.
During 2020, the total value of cryptocurrency assets managed by different financial companies has gained tremendous value. Companies such as Square, MassMutual, and MicroStrategy have used their balance sheets, and PayPal has begun accepting cryptocurrencies on its platform.
Tesla has purchased $1.5 billion in Bitcoin and will start accepting cryptocurrencies. Payment. Just like gold, gold can maintain its value, but it will fluctuate in a relatively short period of time. Bitcoin fills the role of a safety blanket for investors who are anxious about the status quo of the world.
With constant lock-ups around the world, global economic recession, trillions of dollars printed by central banks, and rising inflation rates, Bitcoin is regarded as a very successful inflation transaction. Bitcoin's next big game is sovereign wealth funds and governments. Will they prepare to make public investments in Bitcoin next year? For example, Norway's sovereign wealth fund already holds Bitcoin by holding shares in MicroStrategy.
Decentralized financial services (DeFi) projects may be one of the biggest trends in the crypto sector in 2021. Lending, structuring derivative products, and buying and selling securities through a decentralized open source network may completely change the entire financial system.
Most DeFi contracts include stablecoins. Examples of DeFi use include decentralized exchanges like peer-to-peer exchanges such as Curve, Uniswap, Bancor, Kyber, and Synthetix are the more popular ones the blockchain investors.
Loan contracts that use algorithms to calculate interest rates based on supply and demand such as Compound, Aave, Maker, etc. are some well-known loan platforms.
Last but not least, Asset management agreements such as Yearn.Finance, Melon, Set Agreement, Zapper.fi and Insta.dapp of automated robot advisors, and many other solutions in the financial and insurance fields.
To power the above blockchain solutions, stablecoins are a useful medium for DeFi. They are used to hedge against fluctuations in the market. There are different versions of stablecoins-from legal currency collateral to crypto collateral. The stable currency collateralized by fiat currency maintains a reserve of fiat currency, such as U.S. dollars, as collateral to issue an appropriate number of cryptocurrencies. The most famous examples are Tether (USDT), U.S. Dollar (USDC), Binance U.S. Dollar (BUSD) and TrueUSD (TUSD), which are pegged to the U.S. dollar at a 1:1 ratio. For currencies of other countries, there are also stable currencies on the market, such as Singapore dollar-denominated tokens (XSGD stablecoins) and Euro stablecoins.
Crypto-collateralized stablecoins are backed by other cryptocurrencies. An example of this type is Maker's stable currency Dai, which returns the mortgaged debt position by sending the underlying collateral-Ether to the user.
In 2021, users in the market expect Facebook to launch its stablecoin Diem (renamed from Libra). This may incentivize other companies to also participate in the game of issuing their own coins.
With all the new encryption trends and solutions, governments are not far behind. CBDCs (central bank digital currencies) may become the currency and payment of the future. CBDCs will make cheap and convenient payments possible, for example, from smart cards to smart cards or devices without middlemen. Countries such as China, Hong Kong, Thailand, the European Union, the United Kingdom, the United States, and Australia are currently exploring the potential uses of tokens.
In 2021, all eyes will be focused on China and its digital renminbi, which will allow users to send money to each other just by touching their smartphone. On the other hand, the United States and Europe are lagging behind. Although they have already started research projects in this area, it may take years for them to start implementing digital currencies.
In order to ride on the trend of decentralized finance in the new era, Ace Peak Capital Group, under the leadership of Chairman Mr Levin Lee Keng Weng, decided to invest USD 10 million in the start-up DEFI public chain project Halo Network after it was completed on May 14, 2021. Halo Networks envisioned more projects will be launch in its ecosystem.
Mr. Levin Lee believes that Halo Network is a high-quality blockchain project which will become an important part of the next stage of DEFI. Through this investment, Ace Peak Capital Group obtained HO787381 Halo Network governance tokens. The current market valuation is about 15 million U.S. dollars. It is believed that this investment will bring considerable benefits to the Ace Peak Capital Group and act as catalyst for the Company to enter the crypto market.
Governance token storage address：0x197D33c0B3D0aEb08b1Dff7A8386e238Bd2C0893
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84240