Morning, everyone. Today I will go over Harmony’s roadmap on funding 100 DAOs and on bridging digital identities with .country Internet Top-Level Domain (TLD).
Since our announcement in August, Harmony has already started tens of DAOs. Decentralized autonomous organizations, or what I call on-chain clubs with assets and actions, are the future of work. People stake with tokens to join a club, poll together assets and drive actions together – all on blockchains with open development and immutable contracts.
What are the 10 DAOs so far that we have committed $1M funding each? We give each DAOs a tagline and three mandates that are so memorable they fit in a tweet. For example, Research DAO is to bring the best results to production – which Harmony has done with OmniLedger and RapidChain for sharding, Flyclient for cross-chain bridges, and SmartOTP for one-time-password security. Similarly, Wallet DAO is to build a fearless wallet for everyone – with self-custody but no need for hardware devices or writing down seed phrases.
Harmony argues that DAOs can provide “basic income” or “minimum pay” for builders and creatives. At-will contributions, rather than single-company employment or year-long commitment, are the core of a decentralized economy. Our Basic DAO tracks timesheets, setup payrolls, and manage performance.
Isn’t this what any company must do for human resources and legal paperwork? Exactly, but now on chain with possibly anonymous yet public reputations. The abundance of project bounties, the disparity of global talents, the reinforcement of community passion… are scaling trust and coordination of strangers each contributing to tens of DAOs.
With “Builder-First and Friendly” as its tagline the Developer DAO is aiming for the success of the broader community for technical or application work. The DAO's top mandates are to support development, manage bounties, and advocate with marketing.
This DAO will be the first but not the only to boost our technical and application ecosystem. We will announce shortly our additional DAOs on incubation, creatives, scholars, audits, privacy, ZKProofs, and many more.
The Matching DAO – or, “All For One With Love” – bonds a community over the human stories and contributions of creators. As community members show appreciation this DAO matches the amount for the artist or builder.
Again, this DAO will be the first but not the only to boost our community and social impacts. We will announce shortly our additional DAOs for public goods, charity, and language-specific clubs including Spanish, Chinese, French, Russian, Korean, Portuguese, and many more.
The Liquidity DAO, with “Organic Market-Making” as its tagline, is an open collective with our partner HummingBot. It solves a critical need of any incentivized market: Traditional market makers are isolated and opaque – and, worst of all, not necessarily aligned with the interests of token traders or holders in the ecosystem.
We will define metrics to drive towards organic liquidity, including the spread between bids and asks, the depths of orders, and the volume of trades – across exchanges, bridges, and pools. Towards robustness and diversified risks, the community of traders and bots will simulate and improve strategies under realistic market conditions.
Oh, big news to announce – Harmony recently purchased the .country Internet Top-Level Domain (TLD)! We will bridge Domain Name Service (DNS) and Ethereum Name Service (ENS). Moreover, we will cross over Web2 to Web3 with all of your identities and activities.
Billions of Internet devices and users are still connected via numeric addresses, unencrypted protocols, or centralized services. On the other hand, trillions of assets and collectibles are already innovating on cryptographic keys, smart contracts, and decentralized governance. How to marry the two worlds? With .country, Harmony will facilitate integrations both across Internet-Crypto domains and across multiple blockchains.
Harmony is an open platform for the future generations to create wealth in harmony – or, “to scale trust and to create a radically fair economy”. That means building a decentralized, scalable and secure blockchain to settle any transactions without trusted parties. Here, fairness in radical markets promises everyone the opportunity for creating meaningful wealth.
Now is also the prime time to innovate on consumer marketplaces and social incentives on blockchain. Radical markets mean self-assessed taxation and quadratic stakes; mechanism designs focus on revealing true preferences and multi-round auctions. Both on blockchain can make retail loyalty programs or commerce logistics far more efficient — or even bring social changes in the form of basic income and retroactive funding for public goods. Domains and names like .country will be a perfect breeding ground for these innovations.
We aim to onboard thousands of builders and creatives in the coming months. How to capture everyone's initial enthusiasm while making progress despite coordination inertia?
Harmony offers the most generous pays to onboard anyone who is qualified and aligned with our mission. Our culture values productivity overactivity – or, more importantly, values meanings of our work making impacts in people's lives rather than work hours. Builders in DAOs as the future of work prefer fluid commitment, exploring multiple opportunities and producing work upon the passion of the moment. So, we set the maximum productive hours at 20 per week for at-will contributors and at 30 per week for large groups.
With an objective to onboard ONE million users in the coming months, Harmony is offering 1,000 ONE tokens as daily prizes. The users with the fastest time from creating a wallet, to buying NFT in our maketplace with MetaMask, owning a crypto domain name, farming on our DeFi yields such as on Sushi and Curve – and finally posting #ONEquest on Twitter wins ONE tokens daily.
Every day 500 ONE tokens are rewarded for the fastest person to complete the quest, 300 for the second, 100 for the third. Another 100 ONE as the special prize for the most creative or the most challenging onboarding.
Harmony is driving blockchain adoption by building bridges to all networks – and working together with builders and communities. We offer task bounties, hackathon prizes, launch incentives, grants and more in amounts over $300 million.
We give very specific guidelines to get beginners started with ideas, or projects to port from other chains to boost user engagement, or converting Web2 customers into Web3 communities. For example, Harmony offers $50K to any project in 5 installments: launching a feature-full prototype on our testnet, gaining 1000 users, forming a 5-out-of-9 multisig DAO, launching on our mainnet with audit, and at last gaining 10K users with promotion.
Above are our community and open development with $300M grants for cross-chain DeFi, NFT and DAO. Again, Harmony is an open and fast blockchain. Our mainnet runs Ethereum applications with 2-second transaction finality and 100 times lower fees. Our secure bridges offer cross-chain transfers with Ethereum, Binance, and 3 other chains. Build on Harmony, bridge to all chains. We are an open platform for your assets, collectibles, identity, and governance. Apply today!
*Bonus slide. Harmony’s bridges can connect any Proof-of-Work and Proof-of-Stake chains. Our FlyClient architecture is fully trustless and highly gas-efficient. Currently, our bridges for Ethereum and Binance Smart Chain secure hundreds of million dollars of cross-chain assets. With hundreds of validators for 4 data and execution shards, Harmony with its trustless bridges provides secure and uniform scaling – a great tradeoff compared to rollups or other Layer 2 solutions.
What about users? They can continue to 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.