Decentralized wallet KuCoin Wallet announced on Apr. 3 that it has rebranded as Halo Wallet and launched a new SocialFi ecosystem. According to the announcement, the newly independent Halo Wallet received a fresh round of financing from several investors, including KuCoin Ventures, IDG, HashKey Capital, and other Web3 strategic partners. 

The rebranding exercise aims 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.

In the future, Halo Wallet plans to gradually transfer governance rights of its SocialFi ecosystem to the community through a decentralized autonomous organization, or DAO. According to the company, implementing a DAO governance model promises to motivate a larger number of innovators and users to explore novel financial models and trading opportunities, thereby fostering an active SocialFi ecosystem. 

(by Judith BannermanQuist)