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The 3 Latest Harmony Developments

The 3 Latest Harmony Developments

Harmony (ONE) is currently in the limelight for all the right reasons in recent times. This layer 1 blockchain platform is set to create an enabling environment for creatives and builders in its ecosystem.

Therefore, in this article, you will discover the latest news about the Harmony (ONE) ecosystem. These details include updates, new feature launches, partnerships, etc.

1. Harmony ‘ONE to Earn’ Incentive Program

Harmony's Staking and Incentive Design

Builders and creatives have yet another reason to build on Harmony. The L-1 blockchain platform recently revealed that it was trying out ways to offer radical incentives to builders and creators. To achieve this, Harmony reveals plans to launch its ‘One to Earn’ incentive program. According to the announcement, the program will be focused on onboarding builders and creatives, providing them with an enabling environment to build.

At @harmonyprotocol, we are constantly experimenting with radical incentives.

We aim to onboard thousands of builders and creatives who are qualified and aligned with our mission offering the most generous pay.

Know more about ONE to Earn👇

— Harmony 💙 (@harmonyprotocol) April 6, 2022

As part of this incentive program, harmony also offers builders generous pay for their commitment and work output. Currently, there is a maximum of 20 hours of productive work every week for convenient contributors. While large groups have 30 hours per week of productive hours.

The @harmonyprotocol ecosystem has grown tremendously, with projects across domains choosing Harmony as their preferred blockchain.

But it would have been possible without the builders who are building the ecosystem.

Here’s to The ONEs Who Build💙

— Harmony 💙 (@harmonyprotocol) April 8, 2022

Important Teams on Harmony ‘ONE to Earn’ Incentive Program
  • 25 Cores – This is a core leadership team expected to work full-time for 35 hours every week. Minimum pay is currently at $55/hr, resulting in an annual income of $100,100. Also, members of this team are entitled to a 4-week mandatory vacation.
  • 50 Fellows (usually managed by Cores) – They are mandated to work for 30hrs every week or 10hrs per week for a part-time role. They also earn an average of $65 per hour and an annual income of $101,400. They also have to go through a monthly employment contract renewal.
  • 1000 Contributors (usually managed by Basic DAO) – They are also required to provide a maximum of 20 hours a week of productive work. Their minimum payment is $75 per hour resulting in an estimated annual income of $78,000.

Also, another important team is the 2100 Hunters and Masters.

2. Harmony to Bridge Bitcoin (BTC) to Its EVM

Harmony Protocol to Launch Trustless Bi-Directional Bitcoin Network to Harmony  Bridge, Allowing Bitcoin Holders to Participate in $1 Billion DeFi  Ecosystem | by Peter Abilla | Harmony | Feb, 2022 | Medium

Harmony (ONE) has also designed a trustless bridge linking BTC to harmony. The trustless bridge provides Bitcoin (BTC) holders with the opportunity to foray into the decentralized finance (Defi) space.

Last month, @MessariCrypto published a report on @harmonyprotocol‘s new trustless BTC bridge that offers users an opportunity to participate in Defi protocols without liquidating.

The report evaluates the bridge operation, economics, and risks.👇

— Harmony 💙 (@harmonyprotocol) April 5, 2022

This means that they can enjoy the benefits of Defi without having to liquidate their BTC. Also, with the fast-growing world of smart contracts and Web 3, it is necessary to evaluate the possibilities of BTC running on an EVM network. Therefore, this is what Harmony one is focused on by looking to bridge BTC to Harmony’s Ethereum Virtual Machine (EVM) network.

3) Harmony Integrates with Covalent HQ

Harmony Integrates with Covalent, Bringing Data Accessibility to the  Platform | by Abhishek Purushotham | Harmony | Apr, 2022 | Medium

Also, another important update is Harmony’s recent integration with Covalent to help build apps easier and faster.

1/ @Harmonyprotocol is excited to announce integration with @Covalent_HQ, a leading provider of indexing & querying solutions for blockchains with their unified API.

Why is it important? This integration lets developers access rich granular data to build apps faster & easier.

— Harmony 💙 (@harmonyprotocol) April 7, 2022

ONE Price Outlook

At the time of writing this article, the price of ONE was trading at $0.13 with a market cap of $1,6 billion and a 24-hour trading volume of $82 million. The token price is also down by 2.8% in the last 24 hours.

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