๐Ÿ’™

Fixed Income

Next Date
June 30, 2022
Assign
Boris PolaniaGanesha UpadhyayaGiv Parvaneh
Status
Live on Mainnet
Github
Bounty
Grant-1
Grant-2
Grant-3
Release Date
2022 Q2

Notes

  • When someone deposits $ONE into the platform, they will send $ONE and receive in exchange another coin ($ubONE)
  • Similarly, when some withdraws, they will send $ubONE and receive back $ONE

  • As time goes by, the amount of $ubONE will increase based on the interest rates
  • Based on this, the user interface should at anytime show the interest rate (APR%,) the amount of (undeposited) $ONE available in the user's connected wallet, the current amount of the deposited $ONEs and the number of $ubONE in the users wallet

Deposit

1) Users enter the web app and connect their metamask wallet

2) Once connected they should see their current balance in $ONE and decide how much they want to deposit for Fixed Income and type it in a field

3) Once typed the amount to be deposit, a button "Deposit" should be clicked and the deposit will come through

Withdraw

1) Users enter the web app and connect their metamask wallet

2) Once connected they should see their current balance in $ubONE and decide how much they want to withdraw and type it in a field

3) Once typed the amount to be deposit, a button "Withdraw" should be clicked and the withdraw will be processed

Two viable solutions

  1. Orion money on Harmony
  2. Lido on Harmony

Diagram describing how Orion money protocol can work on harmony using terra bridge and 1wallet
Diagram describing how Orion money protocol can work on harmony using terra bridge and 1wallet

Even though Harmonyโ€™s UBI development should include a diversifying strategy, it is assumed that a first version using only one investment instrument should be a good starting point.

There are four critical areas for the development of a first beta version, they are a way to use One Wallet with fiat on-ramp support, a way to swap and/or bridge ONE into other assets.

Roadmap

Phase 1: ONEAnchor (owner @Boris Polania)

๐Ÿ’ก
Fixed income (15-20%) product on harmony.
  • Porting Staking Products
    • Decentralized smart-contract-based integration
  • DEX integration for swapping and bridging ONE
  • Frontend e.g, Orion money
    • Integrate 1wallet

Milestones @Boris Polania to add details

  • Find a number of viable staking/lending protocols

Phase 2: dONE (native staking derivative)

Fixed income (15-20%) product based on native staking derivative and yield products on harmony.