Halo Wallet is a rebranded new version of KuCoin Wallet, which announced its departure from the KuCoin exchange. With the rebranding, the wallet aims to expand its work in the Web3 space onto SocialFi.
Is KuCoin Wallet Closed?
The decentralized wallet KuCoin Wallet has undergone a name change. Announcing that it has been rebranded as Halo Wallet as of April 3, 2023, the application stated that it has launched a new SocialFi ecosystem.
1/ We’re thrilled to announce that #KuCoinWallet has officially rebranded to Halo Wallet!🎉
With a brand new name, new logo, new UI, new roadmap, #HaloWallet is ready to innovate the next stage of #Web3 social #crypto wallet!
Learn more⬇️https://t.co/GoYVvKdYoi
— Halo Wallet (@HaloDotSocial) April 3, 2023
Since its initial launch in June 2022, KuCoin Wallet has made significant progress in the decentralized wallet space. Since its launch, the decentralized wallet has provided extensive domains for both mobile and PC, providing access to thousands of tokens and NFTs.
In August 2022, KuCoin Wallet integrated the function of 1inch Network’s automatic market maker to make token swaps better.
What is Halo Wallet?
Halo Wallet is the rebranded new name of KuCoin Wallet. The rebranding effort aims to broaden the focus of this wallet from being a Web3 wallet to supporting the broader SocialFi ecosystem. The wallet aims 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 interact with popular influencers.
Jeff Haul, President of Halo Wallet, stated that decentralized wallets are the primary entry point for users into the Web3 ecosystem. According to Haul, the revamped Halo Wallet offers a number of advanced features to help users create a well-rounded social identity and find quality information on social networks.
With the new version, it is planned to gradually transfer the governance rights of the SocialFi ecosystem to the community through a decentralized autonomous organization or DAO in the future. According to the company, the implementation of a DAO governance model promises to foster an active SocialFi ecosystem by motivating more innovators and users to explore new finance models and trading opportunities.
