Harmony Ecosystem Fund Approves 21 New Grants in First Half of January 2022
Harmony is a blockchain platform that seeks to bring scalability and security. Its mainnet runs Ethereum applications, and users experience…
Harmony is a blockchain platform that seeks to bring scalability and security. Its mainnet runs Ethereum applications, and users experience a two-second transaction finality. $ONE is its native token. Harmony has been fronted as the go-to platform for collectibles, assets, governance, and identity. It also comes with secure bridges that make it easy to do cross-chain asset transfers with Binance, Ethereum, and several other chains.
Harmony supports both promising and existing projects from various startups. Products that fall under the following categories can apply for Harmony Ecosystem Fund/Grants:
- Those that have a working product. A project running on Ethereum mainnet, a project running on xDAI/ Polygon, or a full prototype on Harmony testnet.
- Those that have a promising idea. Those who intend to convert 10,000+ users to the blockchain, are coding a demo in the next six weeks, and want to recruit developers to build.
- Those that want to learn and help. Coders of mobile/web/backends, those that enjoy drawing/making videos/writing, and those that enjoy giving product feedback.
Harmony approved 21 proposals to be part of its $300M Ecosystem Fund in January 2022. Let us go through each project based on various categories:
EPNS is a decentralized Web 3 protocol for blockchain-based communication and notifications that are platform-independent, chain agnostic, and incentivized. This protocol allows any dApp, backend, or smart contract to send off-chain or on-chain notifications tied to wallet addresses.
AnChain is known as the “Guardian of the Digital Asset Class.” The protocol was designed from scratch to become the leading smart contract analytics and data platform. The protocol has different features such as machine learning-based risk profiling and wallet behavior, AI-powered auto-tracing, and smart contract auditing.
Perpetual Protocol is a platform that lets users trade a wide range of assets. With this DEX, users can trade futures to decide to go long or short on xDai and Ethereum with up to 10x leverage. Trading is non-custodial, which means that traders retain possession of their assets.
Unite Finance is the first algorithmic stablecoin to be created on Harmony Mainnet. It is pegged at 1 $ONE via seigniorage. Various underlying mechanisms ensure a peg of ONE:UNITE is achieved. Once this is achieved, it is maintained, and then $UNITE mirrored as a liquid asset to $ONE.
Openfabric AI is a decentralized AI platform. Through it, data providers, AI innovators, infrastructure providers, and businesses will collaborate and facilitate the creation and use of new intelligent services and algorithms.
This AMM is a decentralized protocol optimizer for various exchanges. DexSwap has many goals, including reshaping the DeFi landscape by reducing entry barriers, offering lower fees on the Harmony network, and offering multiple pools dedicated to the Harmony Protocol ecosystem.
ScaleSwap claims to be the ‘world’s first truly fair IDO launchpad.’ The protocol provides early access to investment opportunities previously reserved to a select few. Users can access the most exclusive tokens before anyone else and make the blockchain a better space.
Allbridge is a secure, fast, and affordable way to transfer assets across various blockchains. Users can move liquidity between non-EVM (Terra, Solana), EVM (Ethereum, BSC, Polygon), and L2 blockchains.
Abracadabra is a protocol that enables users to provide collateral in the form of various interest-bearing crypto assets such as yvUSDC, yvUSDT, XSUSHI, and yvYFI. Users can then borrow Magic Internet Money ($MIM), a stablecoin that you can swap for any traditional stablecoin.
Klever is a crypto wallet ecosystem that serves over 2.5 million users globally. There are more than 500,000 monthly active users on the Klever App, Klever OS, and Klever Swap from over 190 countries, and it is available in 30 different languages.
Trustee Wallet is an anonymous, multi-currency wallet. It allows users to send and receive virtual assets with their MasterCard/VISA cards. Users don’t go through AML/KYC and don’t incur transaction fees; they only pay miners’ fees.
CyberGothica is an upcoming play-to-earn MMORPG game based on the Solana blockchain. Those who hold its NFT can participate in various activities such as the arena, tournaments, or try to bet on PvP matches. Warriors in this game are displayed on a special leaderboard, and the better you play, the more valuable these characters become.
Freyala is a low-cost and fast token created on the Harmony blockchain. $XYA is an HRC-20 token centered around integrating cryptocurrency in decentralized applications and gamified NFTs. The whole idea behind the project is to build a user-friendly means of utilizing crypto.
Tower of Babel is a decentralized marketing gamified platform. It comprises a network of mirror sites and a smart contract that makes it easy to build a single building, labeled the Tower of Babel.
DeFimons is a play-to-earn MMORPG with a marketplace and a DEX that will launch on Harmony Protocol. Yokorobi, the game’s first town, has already been deployed.
KangaFinance is a lending protocol, a DEX, NFT marketplace, and a yield farming engine.
This platform is a social network for fashion. The app seeks to make second-hand fashion inventory transparent and circular. The platform also has a Storey Token & NFT digitization.
NiftyRow is an NFT marketplace for African arts. The marketplace supports both visual & audio arts, including contemporary digital and fine arts.
BlockPerksNFT is a unique marketplace with various features such as branded/personalized social tokens, token gated communities, exclusive NFT drops, and metaverse applications.
SlothFi is a protocol that seeks to bring an entire ecosystem of dApps to Harmony Blockchain. These apps include the $SLOTH token, Lazybones app, and Avocado NFT Marketplace to find rising projects.
Envelop Project is a flexible cross-chain toolset that can give any NFT new functionality, comes with an anti-fraud system, and protects it from devaluation.
Since Harmony was founded in 2018, it has supported different projects on various fronts. With these approved proposals in 2022, we expect to see a diverse range of blockchain products that will advance this space. We can only wait and see how these products will compete with others from various ecosystem funds.