HaloDex Continues to Flounder as Progress on CEX Stalls Out
Halo Platform has been slowly running out of resources. Money. Time. Staff. Talent. Ideas. All of them in very short supply. About 1 year ago, expectations were very high that the CEX (now code named Pinnacle)would launch in the 1st quarter of 2019. Then delays began to make themselves known...and the timeline continues to get pushed out further and further.
In the meantime, the Halo Dev team (which is basically Scott Morrison and whomever he can get to work for nothing) have given up on updating the existing games released in 2018-19. They also tried to create a "hail Mary" moment by announcing an open beta for a Halo based poker game and a casino. Link to beta is still up: https://pokerhalo-develop.netlify.com/ Unfortunately, rather than building it from the ground up, they bought a horrible piece of software that looked about 10 years old and tried to port it to the chain. An awful mistake to be sure, but rather than admit it and seek guidance on what to do to make it right, they just backed away from the project and put it into "pending" status.
So let's recap what has happened in the last 3 years to what I once saw as a going concern, Halo Platform.
ICO in 2017 with 1 million coins issued at a $10 USD valuation for a $10,000,000 raise. Had a solid team at the beginning and put tons of effort into launching working wallet and masternode system. Began working on DEX...lots of delays...worked on releasing games through their game studio...got two of them launched, but had no marketing so the only people who used them were ico investors....never made any improvements to either game in the past year...so they are effectively dead projects. Lost two of their heavy hitters in Dev team...Shannon and Devin. Rumors started making the rounds fueled by ex employees indicating that they weren't being paid and that the project was in peril.
Dex launches...almost no fanfare...very limited list of shitcoins to trade...and you also have to use the DEX "wrapper" system implemented in HaloDex. It is as a retarded as it sounds, and a nightmare for people who don't understand it. Predictably, the only people using the DEX are ICO investors that are selling their rewards from masternodes to gullible ICO investors who want to increase their bags (and yes, I was part of that category for a while). Dubious crypto projects get added, and still nobody uses HaloDex to trade due to volume and liquidity issues. Additionally, Halodex doesn't get listed as an exchange on CMC because volumes is atrociously low, and they way that it gets reported doesn't match requirements from CMC. True believers in the Discord channel continue to claim that the value of Halo is the tech, and that they are less concerned about money than the tech itself.
What Halo Did Right:
They raised $10 Million in a very short period of time and aligned themselves with some good devs to get going quickly.
What Halo did Wrong:
Pretty much everything else after the wallet and masternode system launched.
They Burned through cash like it was never gonna end.
They forgot the project was about delivering VALUE to masternode holders.
They convinced themselves that they were better than their competitors, even though they can't get their products to market to prove it.
They forgot to pull the plug, shut off the light, lock the door and exit scam to Panama when there was still some cash to steal. Now they go on existing more out of habit than anything else.
The shame of it all is that even if they manage to complete a working candidate for Pinnacle and get it released, they are still competing with scores of other working, promoted and profitable exchanges that have listings and volume already. There are not going to be massive numbers of new users the the Pinnacle Exchange...because they have to money to promote it. Once again, another once promising ICO project turns into a shitcoin. It'll all end in tears.