Author: PermaDAO
Translator: Tina XU @ Contributor of PermaDAO
Reviewer: Kyle @ Contributor of PermaDAO
In the development process of PermaDAO, we have been committed to a significant milestone - the issuance of tokens.
We have been implementing and gradually fulfilling this commitment. We have initiated the testing token: $HALO, and completed two rounds of airdrops.
The first round targeted a total of 70 addresses (everPay Centified NFT holders) and airdropped approximately 10,000,000 HALO.
The second round targeted a total of 38 addresses (contributors to the Admin Guild) and airdropped around 878,000 HALO.
We will continue to carry out more rounds of airdrops targeting a broader range of contributors to PermaDAO.
As a testing token, $HALO is an experimental token before the official token launch, providing us with ample opportunities for exploration, trial, and adjustment.
Although we named it a "testing token," it will actually carry out governance functions for PermaDAO and Permaswap in the current stage. It marks the beginning of decentralized governance for PermaDAO and Permaswap! Therefore, HALO is not a test token that can be freely obtained from a faucet but requires you to contribute to acquire it. The fundamental value support for HALO lies in its potential mapping to an official token in the future.
This article will comprehensively introduce $HALO to you. It will help you understand what it is, what it can be used for, and how to obtain it specifically. It also addresses several key questions that the community is concerned about regarding $HALO.
What is $HALO?
$HALO is the testing token for PermaDAO and Permaswap, currently serving as the governance token for PermaDAO and Permaswap, with the potential to be mapped to an official token in the future. Once the official token is released, its functions will transition to the official token.
When will the mapping start? What are the mapping rules?
The specific timing and rules for mapping will be determined through governance proposals.
What can $HALO be used for?
Before the official token launch, $HALO can be used for governance voting in PermaDAO and Permaswap.
Additionally, staking $HALO is required to operate a Permaswap Router node.
How to acquire $HALO?
1/ You can earn $HALO by working in PermaDAO
Currently, working in PermaDAO will earn you AR incentives, and subsequently, based on the contribution level of each contributor (accumulated AR incentives earned), a proportional airdrop of HALO will be distributed. PermaDAO is a community built around Arweave for co−construction and incubation, offering various types of tasks. By working within the community, you can earn AR incentives and have the opportunity to receive $HALO airdrops.
PermaDAO Application Portal:
https://onboard.permadao.com/
PermaDAO Task Strategy:
https://www.notion.so/permadao/PermaDAO-f835f2fcbee5491ea58225d6dcbd2721
2/ Participate in Permaswap liquidity mining
Permaswap regularly launches liquidity mining activities, providing liquidity for selected trading pairs to earn $HALO rewards.
3/ Other ways to obtain $HALO
Stay tuned to Permaswap's PermaDAO Twitter account for various $HALO airdrop activities, including but not limited to Bug Bounty, trading mining, Everloot events, etc.
Why is my $HALO in a staked state, and how can I unlock it?
$HALO obtained through airdrops is initially in a staked state.
You can use these staked $HALO to operate a Router node or participate in governance.
You can unlock them at any time to make them transferable. However, please note:
- There are currently no trading pairs for $HALO available, so you may need to find over-the-counter trading opportunities.
- If you acquired tokens through working in PermaDAO, they come with governance weight bonuses. Please unlock them cautiously, as unlocking will result in the loss of these governance bonuses, which will not be reinstated even if you re-stake. Refer to the "Understanding PermaDAO's Operational Logic and Governance Framework" for detailed rules.
Where can $HALO be bought or sold?
Currently, there is no official trading pool supporting the buying or selling of $HALO.
In the future, we will establish trading pairs on Permaswap. Keep an eye on Permaswap's Twitter for updates.
What is the relationship between Permaswap and PermaDAO?
PermaDAO is a community for co-construction and incubation, and Permaswap is the first product incubated by PermaDAO. Both share the same token system. The current $HALO/future official token can be used for governance in both PermaDAO and Permaswap.
What is the issuance cap of $HALO?
The issuance cap of $HALO is 1 billion tokens. Any remaining tokens not issued upon the launch of the official token mapping will be burned.
What is the token distribution plan for $HALO?
There is currently no specific token distribution plan for HALO. However, it is anticipated that a majority of HALO tokens will be distributed through airdrops from PermaDAO and liquidity mining on Permaswap.
What is the name of the official token?
The tentative name is $PSN. What do you think would be a good name?
🔗 More about PermaDAO ：Website | Twitter | Telegram | Discord | Medium | Youtube
💡 Initiated by everVision and sponsored by Forward Research (Arweave Official), PermaDAO is a "Cobuilding Community" focus on the theme of Arweave consensus storage. All contributions from PermaDAO contributors form the bedrock of data consensus. Let's embark on a journey starting with data consensus and delve into a novel paradigm for decentralized collaboration - Decentralized Autonomous Organizations (DAOs)!
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