Proposal: Whitelist Harmony (ONE) - 150K BNT Co-Invest

Proposal: Whitelist $ONE (Harmony) - 150K BNT Co-Investment

This proposal is expected to appear on Snapshot for voting on Sunday 8 August 2021 at 12:00 pm UTC

TL;DR

• Proposal to whitelist ONE.
• Proposed co-investment is 150,000 BNT.
• There are no apparent security concerns that would prohibit whitelist status.
• There is no reason to doubt the legitimacy of the Harmony project.
• The benefit to Bancor is clear as this will be our deepest pool on Ethereum.

ONE token (ERC-20) address: 0xD5cd84D6f044AbE314Ee7E414d37cae8773ef9D3

Project Website: https://harmony.one

Token Security

The Harmony contracts do not have permissions that grant administrators unrestricted mint/burn capabilities. The ONE token supply started at 12,600,000,000 and has a constant annual reward of 3% (441 million ONEs) to incentivize validators to secure the protocol. The addresses with the highest concentration of ONE tokens are predominantly the Harmony Foundation and exchange partners. Harmony’s token unlock schedule is here and it’s top wallet list is here.

Project

Harmony is your open platform for assets, collectibles, identity, governance. We are an open and fast blockchain. Our mainnet runs Ethereum applications with 2-second transaction finality and 1000 times lower fees. Harmony’s secure bridges offer cross-chain asset transfers with Ethereum, Binance and other chains. Build on Harmony, bridge to all chains. Be the ONE to bridge to All.

For more details, read our documentation.

Tokenomics

ONE is the native token for Harmony. ONE token has several important utilities that’s required for using the network and is essential to the security of the network:

• ONE token is the native token for paying transaction fees.
• ONE token is the native token that’s accepted for staking.
• ONE is the token used as the measure for voting in the governance process.

Community and Communication

Harmony is active on all major communication channels.

Adoption Metrics

• Over 16,000 delegators and 113 validators, staking 4.6 billion ONEs ($333m staked)
• $47 million TVL on Sushi on Harmony, and $30 million combined on other DEXes
• $51 million TVL on Harmony’s bridge to Ethereum and BSC
• 2,000 creators and $500k sales on DaVinci NFT marketplace
• 50+ active Dapps
• Over 133,000 active wallets
• Over 63 million mainnet transactions

Audience data

• Twitter: https://harmony.one/twitter 3 (196K)
• Reddit: https://harmony.one/reddit (27K)
• Telegram: https:// 1harmony.one/telegram (25K)
• Discord: https:// 1harmony.one/discord 1 (6K)
• Medium: https:// 1harmony.one/medium (3.5K)
• Facebook: https:// 1harmony.one/facebook (6.4K)
• Youtube: https:// 1harmony.one/youtube (10.5K)

Available Audits

Harmony has been audited twice:

• https://www.harmony.one/audit1
• https://www.harmony.one/audit2

Market and Trading Data

• Harmony’s price at the time of writing is $0.07622.
• All-time high: $0.2233 (Mar 29, 2021)
• All-time low: $0.001257 (Mar 13, 2020)
• 10.42 billion tokens in circulation.
• The current fully diluted market capitalization is $961,685,108.
• The ONE token is available on major exchanges, including Binance, Huobi Global, Kucoin, and Binance.US.
• The 24-hour spot volume in the past week reached $53,697,443 (July 26, 2021).

Benefits for Bancor

With the addition of the ONE pool, Bancor will add net new users from Harmony’s 350,000+ community members.

The Harmony team and community will actively market the existence of the pool.

We will also use this as a starting point to collaborate with the Bancor team to potentially expand Bancor natively on Harmony’s fully EMV-compatible protocol with 2-second transaction finality and near-zero fees.

Voter Incentives

All voters, with a Harmony ONE wallet address, will receive a Harmony NFT (equivalent to this NFT) from https://davinci.gallery, a NFT market on Harmony.