HaloDAO Partners With YGG To Support Local Stablecoin for Easier Cash Out

The decentralized application platform, HaloDAO Protocol and Yield Guild Games (YGG) are joining forces to support local stablecoins for simpler cash out.

HaloDAO Protocol is a blockchain platform that brings the DeFi and next-generation crypto payment systems to Asia. Today, the firm announced a partnership with YGG to allow YGG users to cash out in local regions. The stablecoin marketplace protocol said this will be possible thanks to its updated v1 stablecoin optimized AMM on Ethereum and Polygon.

According to the team, there will be a huge focus on growing access to Singapore, the Philippines, and other regions. To be specific, the firm said the partnership is to build a Play-to-Grow model for gamers to go from earning to yield farming and access other DeFi applications.

Note that YGG has allowed over 4,700 scholars to earn more than 61 million Smooth Love Potion (SLP) — ERC-20 tokens on the Axie Infinity platform to date.

In addition, after earning SLP, scholars usually either hold onto it or try to find ways to cash out their SLP. Looking at the situation, the firm said it would enable scholars and other crypto-gamers to convert their profits into their local stablecoins and earn yield with its P2G model.

Even more, the two companies are building financial tools and integrating with Discord. With this, they can let users track their performance, gain yield, invest in their scholar teams, and more.

Furthermore, the founder of YGG, Gabby Dizon, praised the collaboration and HaloDAO features. Dizon added,

YGG is helping people from all over the world gain equal access to the income-earning opportunities in crypto, and this collaboration with HaloDAO DeFi products improves their income-earning capacity.

HaloDAO and YGG together embrace the entrepreneurial spirit of play-to-earn gamers and allow them to do more with their hard-earned income.

Currently, HaloDAO is working with different local stablecoin issuers and synthetic stablecoin protocols. The firm is targeting the Philippines, Indonesia, Singapore, Hong Kong, and other countries from Latin America, Europe, and the United Kingdom to support the use of these local stablecoins within DeFi.