Harmony's ecosystem

ECOLOGICAL PANAROMA
Emily Nguyen TradeCoinAsia.com TradeCoinAsia TradeCoinAsia
Updated: Nov 05, 2021
| ONE

Disclaimer
o This content on this research has been prepared solely for informative purposes and should not be the
basis for making investment decisions or be construed as a recommendation to engage in investment or
be taken to suggest an investment strategy in respect of any financial instruments or the issuers thereof.
o This research released by Emily Nguyen is not related to the provision of advisory services regarding
investment, tax, legal, financial, accounting, consulting, or any other related services and are not
recommendations to buy, sell, or hold any asset.
o The information contained in this research is based on sources considered to be reliable, but not
guaranteed, to be accurate or complete.
o Any opinions or estimates expressed herein reflect a judgment made as of this date and are subject to
change without notice.

Harmony is an open-source blockchain for building decentralized applications (dApps).
#HARMONY
KEY FEATURES:
o Harmony mainnet runs Ethereum applications with 2-second transaction finality and 1000 times lower
fees. Harmony is the open platform for assets, collectibles, identity, governance. Their bridges offer
cross-chain asset transfers with Ethereum, Binance and 3 other chains.
o Harmony helps businesses build marketplaces of fungible tokens (such as energy credits and loyalty
points) and non-fungible assets (such as game collectibles and real estate).
o Harmony’s vision remains “Open Consensus for 10B People” with 100 billion future devices.

#technology
It uses a technique called state sharding, which separates a chain
into segments that process transactions and store data in parallel, to
support fast transactions. Harmony currently supports a thousand
nodes across four shards, which work to produce new blocks every
two seconds with finality (no threat of a competing fork). The project
has plans to add more shards and support more nodes in the future.
The protocol's Effective Proof-of-Stake (EPoS) staking mechanism
allows token owners to delegate their holdings to network validators
but aims to reduce the centralization of delegated assets.
‣ 2. Harmony’s FBFT Consensus Process
‣ 1. Harmony’s Blockchain Structure

#technology
Harmony implements deep sharding with
innovations on both protocol and networking layers
of blockchain by introducing:
1. Highly scalable FBFT (Fast Byzantine Fault
Tolerant) consensus using BLS (Boneh-Lynn-
Shacham) multi-signatures.
2. Secure distributed randomness generation
protocol using VDF (Verifiable Delay Function).
3. Sharding with adaptive Proof-of-Stake for
strong network security.
4. Kademlia routing and erasure encoding for
optimal network performance.
‣ 3. Harmony’s Sharding Process
‣ 4. Harmony's Random Number Generation
‣ 5. Fast Synchronization of Harmony Blocks

#technology Update
Cross-Chain Interoperability
Harmony’s current strategy is “Cross-Chain Finance” as decentralized
finance and interoperable protocols are the product-market fit in 2021.
Harmony’s bridges can connect any Proof-of-Work and Proof-of-Stake
chains. Their FlyClient architecture is fully trustless and highly gas-efficient.
Currently, their bridges for Ethereum and Binance Smart Chain secure tens
of millions cross-chain assets.
Developers simply change Chain ID and enjoy faster EVM executions
identical at the bytecode level. They can use their familiar and standard
Web3 tooling to easily migrate to Harmony
What about users? use MetaMask or Ledger — but now pay minimal fees.
Any Ethereum wallets or portals can work on Harmony without code
changes or new installs — we are fully compatible for both transaction
messages and execution environments.

#protocol features
•The Harmony MainNet has an average of 2,000 TPS but can reach a maximum of 24,000 TPS

#TEAM
CEO & Co-founder Co-founder
CTO & Co-founder CPO & Co-founder

#team
At present, the Harmony team consists of 12 members, including 9 technical developers, where the proportion of
technical developers consist of the majority of its team. It is worth mentioning that most of the team members have
work experience in large Internet companies such as Google, MicroSoft Apple and Amazon. There are 2 PhD
worked at Silicon Valley. The background experience in technical developments from large technology giants
demonstrates a high level and competence to develop blockchain systems.

#Advisor
There are 4 advisors on the Harmony team. The advisors, including two UCLA(University of California, Los Angeles)
professors, provide the research team with academic support and help in terms of theory with regard to its
technological developments. Moreover, the advisors also include those who have experience in business and
laboratory operation, providing some operational and research experience for technology-oriented team.

#Backers
• Hightlight Backer: Binance Labs
o Team & Advisors: Harmony is built by
a team with deep roots in technology
and cryptocurrency. The team also
includes young people: easier for
update and shift, improve for
adoption and development of
Harmony Ecosystem. They have
clearly goals in every sectors that
they want to accelerate in
ecosystem.

#Partners
Notable key partners include Animoca (parent company of game assets like Garfield), Contentos (a
content platform with 60M monthly users), and Timeless (a calendar-based service marketplace).
Harmony’s partnership details here

The Harmony token functions in the following aspects of the protocol:
o The token is used for staking, which is necessary to participate in the POS
consensus & earn block rewards and transaction fees.
o The token is used to pay for transaction fees, gas and storage fees.
o The token is used in voting for on-chain governance of the protocol.
#USE cASE

#Tokenomics
o Token Name: Harmony
o Ticker: ONE
o Blockchain: Harmony Blockchain
o Token type: Utility Token
o Consensus Algorism: EPOS
o Total Supply: 13,231,766,379 ALGO
o Circulating Supply: 10,781,119,379 ALGO
All ONE tokens earned through transaction fees are burnt. High network usage should lead to zero token inflation.
Like with EIP-1559, issue-and-burn tokenomics rewards a growing network by reducing inflation thereby
increasing the intrinsic value of the ONE token.

For ongoing staking rewards, Harmony's
economics model caps the annual issuance at
441 million tokens (about a 3% rate in long term).
This model aims to give validators a predictable
return.
Nov 30, 2020: Seed Sale
Nov 30, 2021: Protocol Development
Dec 31, 2022: Team
Oct 30, 2026: Staking Reward and Ecosystem
Development
The whole ONE token will be realesed in Oct 30, 2026. Detail here
#Tokenomics

#Tokenomics
Nov 30, 2020
Unlock date
ATH: $0.38 (Oct 26, 2021 Current Price: $0.29)
Funding Round ROI
Mar 5, 2021
X58.46
X35
X119

#Tokenomics
o Tokenomics: Token burnt will reduce inflation every year, thereby increasing the intrinsic value of
the ONE token.
- ONE token multiply around X58-119, it’s not too much compare from another tokens: MATIC, SOL,
…

TOP PROJECTS IN FANTOM
ECOSYSTEM BY HIGHEST TVL
#ecosystem
Like all L1s, Harmony has a complete
ecosystem planned. Early priorities
include:
Analytics, such as block explorers and
The Graph subgraphs.
Service Infra: full operational and high
availability RPC endpoints providing
convenience to dApp developers

#TOP 10 by TVL TVL of Ecosystem: 367M
TVL of Ecosystem: 367M

#DEFI
Artermis Protocol: Yield
SonicSwap: DEX
Elephant Dex: DEX for HRC20 token
Fuzz Finance: DEX
Elk Finance: Decentralized network (cross-chain)
MochiSwap: DEX, Yield Farm
Beefy Finance: Yield, Cross-chain Farmers Only: Yield Aggregator
Boss Swap: DEX
Viper Swap: DEX
Curve Finance: DEX
Tranquil Finance: Lending
Sushi Swap: DEX, multichain
Defi Kingdoms: DEX, game
Basic DeFi, with SushiSwap and Viper, Defi Kingdoms dominating.

#Wallet
Wallet compatibility: with the popular hardware, software and
browser-based wallets as well as a native mobile version.

#Bridges
Harmony’s Horizon bridge currently transfers assets to Ethereum and BSC, while Terra’s shuttle bridge has
already transferred over $1 million UST. A Polkadot bridge is on testnet, and it is quite easy to adapt the bridge to
other EVM-compatible chains. The Ethereum bridge has been running for a year, with a full audit and no security
issues. Though the current bridge uses trusted validators, Harmony’s upcoming upgraded bridge is both gas-
efficient and trustless: Smart contracts that exist both on Ethereum (or BSC) and Harmony are the only custodians
of each chain’s respective native asset.
On Harmony’s end of the bridge, costs are near zero, so the BSC bridge fees are overall very low. On the Ethereum
side, bridging to Harmony costs approximately 100,000 gas: around $20 at 65 gwei. A return to Ethereum requires
multi-sig confirmation by Harmony validators, at an approximate cost of 400,000 gas. Finality back to Ethereum is
achieved within 6 minutes, comparing favorably to L2s and side chains.
They built secure bridges to Ethereum, Binance, Terra and will be connecting to Bitcoin, Polkadot,
and Cosmos
AnySwap: Bridges
OpenSwap: DEX, Bridges

#STablecoin
OIN is a decentralized stablecoin issuance and trading platform (Cross-chain)
BUSD: 12,5M+ / Total supply: 14B+
TerraUSDT
The first non-USD Stable
RupianToken for cross border payment (IDRT): 10B Daily Trading volume
Dopple Finance: Stablecoin DeFi Ecosystem on #BSC
KUSDT: KUSD is a fraction-algorithmic stablecoin that uses DOPX and USDC to collateralize its
value to mint.
Harmony is focused on connecting to existing FinTechs and
TradFi businesses, especially in Asia and Africa. NowPayments
allows users to transact in the real world with ONE, while
Crypto Bank Africa converts ONE to spot fiat currencies.

#Metaverse/NFT
Metaverse/NFTs
Harmony’s metaverse is also growing. NFTs can be minted and traded on daVinci.. Several hundred
artists switched to daVinci over the seven days ending September 15th. Almost 500 creators joined,
bringing the total on daVinci to over 5,000.
DeFi Kingdoms is a game, DEX, liquidity pool, and marketplace for NFTs, with a front-end resembling
old school fantasy pixel art. It’s already live with $1-2 million in daily volume, and is the second
highest valued project on Harmony.
VIP points & NFT collectible
cards. Collect
LMA is a marketplace
for (NFTs) art cards
A gaming virtual world where
players can play, create, own,
trade, govern and monetize

#Ecosystem
The focus continues to be on wallets and bridging, but now both native and cross-chain dapps are
beginning to emerge.As of August 1st, 2021, Harmony is working to "seed" and "kickstart" several
DAOs in order to decentralize the management and effort in operating the Harmony Network.
Through several experiments and trial runs
o Ecosystem: Its grow rapidly in 2021 with the number of projects are building on Harmony
ecosystem: 159 Dapps. TVL of ecosystem is still low March, 2021). They need more projects as DEX
Perpertual, Launchpad, lending and borrowing… for comhensive ecosystem.

#community
Strategy
The Harmony team has focused on a hybrid online/offline strategy to engage its community. The
offline and online presences are split between three key strategies: content, channel, & ecosystem.

#community

#community
Over the next ONE year, they aim to accelerate 10,000 builders who
will impact the lives of at least 10 million new users on blockchain.
They want to bring new developers and new users into the ecosystem.

#community
o $300M grants for cross-chain DeFi, NFT and DAO.
o $13M Grants & Bounties on NFT
o $20M Grants & Bounties on Wallets
o $100M DAO & Bounties
o $10M Gitcoin Bounty
o $1M Hackathon & DAO on Building Bridges
Engage key opinion leaders - work with KOLs on AMAs and online educational
sessions to engage their communities and followers about Harmony
Email Engagement - Convert more users to join Harmony mailing list
o In 4 weeks, they approved a total of 27 proposals, close to $8.5M

#current state
According to the announcement, the building of
bridges with Ethereum, Binance Smart Chain,
Terra, Polkadot and soon Bitcoin and Cosmos is
already underway.

#ROADMAP
o Community: regularly active and update day by day on all their social network with a handful of programs
for variety of entrants (Developers, mentor, user, investor…) that how they are doing, who they are
working, when they will achieve the goals, how much budget they will spend and for who, for what…

#oppotunity
o Early Supporter
o Retroactive
o Token of a handful of DEXs, AMM, Lending & Borrowing
when Public sales.
o Native token in the next ONE year
o MC/ TVL: 8.25 - MC/Volume: 18/ 16 – Token valuation: $0.28 – Current Price: $0.29
o Entry: 0.21 – 0.17

#thank you!

Harmony's ecosystem

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