We are pleased to announce our partnership with Harmonyswap, a decentralized money market protocol built on the Harmony ONE blockchain!
Harmony is an open and fast blockchain scaling Cross-Chain Ethereum applications. It is an open platform for assets, collectibles, identity, and governance. This platform’s bridges can connect any PoW (Proof of Work) and PoS (Proof of Stake) chains. As a money market protocol, Harmonyswap offers important utility for the Harmony ONE blockchain. Read on to find out more about this project!
Our partnership with HarmonyswapBCAi is happy to be strategic partners of this project! We will be investing in Harmonyswap, as well as offering other strategic support such as marketing and business growth. We are excited to experience the development of this protocol and support Harmonyswap in achieving success. Below, you’ll find some more information on the project itself and the $HAR token.
Main platform featuresWhat are the core features of the Harmonyswap protocol? We’ve listed the three main features below.
- Automated Market Maker: The Harmonyswap AMM allows trades of any HRC20 compatible token at very fast speed with instant transaction finality. It allows both market swaps and limit order for better trading experience. The goal of their AMM is to become the native token swap protocol of the Harmony ONE blockchain.
- Lending Protocol: The money market is based on algorithms, and brings a complete decentralized finance-based lending and borrowing system to Harmony ONE. It empowers Hrc20 token holders to lend their token for a passive return on investment, without risking their assets being stolen.
The lending protocol ensures users can utilize their HRC20 tokens. The protocol creates a sure lending environment: lenders receive compounded interest, and borrowers pay interest on the cryptocurrencies borrowed.
- NFT Marketplace: Harmonyswap’s NFT marketplace stands out by being free of gas fees. Buyers won’t have to pay large fees when making trades on the Harmonyswap NFT marketplace.
$HAR tokenThe native governance and utility token of Harmonyswap is $HAR. The token is mainly used for protocol governance. Participation by making decisions to resolve issues as well as discuss certain topics will be encouraged. Holders of HAR will vote for policy on changes and implementations to ultimately increase the efficiency of the protocol.
The total fixed supply is 1,000,000,000 $HAR. New tokens cannot be minted.
Harmonyswap looks very promising and has exciting features. The roadmap shows that there are a lot of things coming up in Q1 of 2022: The AMM & Farms launch in January, the Lending Testnet & Security Audits in February, and the Lending Mainnet and NFT Testnet in March. We are happy to work together with Harmonyswap and offer our support!