Harmony ONE — Forever Hobbyist

Harmony ONE

Harmony ONE is my top choice for this summer! I think it is going to do exceptionally well! But wait I hear you say,

It has mooned already! It’s too late! It’s a new ATH!

I can’t emphasize this enough. Last week, I shared in my discord chat and I went to Reddit to basically drop my optimism for the platform but it was mostly handled with a, “it has already mooned.” or “this project can only do x2 more.” Now a week later it has already doubled. This will be my point of view of why I am so bullish on Harmony ONE from a PRATICAL standpoint. Yes there is a non ANON team and other factors not being addressed in this article.

How I got introduced to Harmony ONE

Make no mistake, I stumbled on Harmony one luckily. I bought a bunch of coins on crypto.com. I don’t even remember how I chose them. January of 2021, I was rebalancing my portfolio since I made a decent amount of money and I decided to drop $50 into several projects. Then, one day I opened up my wallet to check things out and it was $1000 USD worth from Harmony ONE. My $50 turned into $1000 what? Should I sell now? Should I keep it? What is this coin even about? I asked myself. So I did some digging and a lot of reading and you know what I found out? This coin hasn’t been talked about very much? How is it possible that I can do a transaction for 300 quadrillionths of a penny, and more people aren’t bullish about this? It’s because, in my opinion, not a lot of people know what Harmony ONE has to offer.

Stellar killer?

If you have known me for a while, I have been super bullish about Stellar. It’s mostly because I am very fond of my Blockcard from Ternio, but I like that I can transfer my assets basically free. But… Stellar doesn’t have smart contracts and if I am not mistaken, this is even cheaper than stellar. I don’t think Stellar is going away any time soon but this is the huge selling point for a lot of tokens. XLM XRP NANO, the list can go on. People like saving money from transaction costs.

Using Harmony ONE

Okay okay so yeah transactions are fast and cheap. So what? Big deal. Well, this post is about Harmony ONE but let’s sidetrack for a second and let’s talk about Viper Exchange. This isn’t a shill for Viper. If they scammed out later today, the point is still the same of why I am bullish on Harmony ONE.

VIPER Exchange

Viper exchange is the only real yield farming DEX on Harmony that I know of… But it is pretty impressive (mochiswap supposedly is coming soon, like this week!). Check out these APR rates and TVLs.

Back to Harmony

If you can deploy contracts for basically nothing in Harmony, AND you can get the same contracts in Harmony as you do in BSC or ETH then Viper exchange is just the beginning. Harmony has a bridge to ETH right now but they are also working on a bridge to BSC. How long until you see CAKE minted into Harmony and you see pancakeswap clones pop up? I would assume we are within months, maybe even weeks until that happens.

Harmony vs BSC vs ETH yield farming

Now now, this isn’t going to be a “BSC killer” or “ETH killer”, these platforms can all work together. But, why would I want to pay $0.3 — $2 per transaction on BSC which is Centralized DeFi when I can just use DeFi instead and pay basically nothing? Because of this, in my opinion yield farming DEXes are going to become huge on Harmony. But let’s go on some examples right now.

Power of compounding interest

10% interest compounded yearly = 10% APR

The little farmer

Okay so cool. So Harmony ONE is faster. It is cheaper. It is decentralized. Compounding hourly or minute or even more is possible which makes yield optimizing even better. Awesome. But… Here is something awesome.

Okay okay enough shilling. What’s some bad stuff?

  • Harmony ONE bridge is not the most intuitive.
  • Harmony ONE is not very advertised and so if it doesn’t gain enough momentum then the opportunity will be gone.
  • https://explorer.harmony.one/ which is kind of like ETHscanner? Kind of? Is very very unintuitive. I do not think the average person will understand their transaction history.
  • It is early so a lot of dAPPs aren’t built on Harmony ONE yet and they may never be there if there isn’t enough adoption.
  • Harmony ONE really lacks marketing.
  • Using METAMASK on Harmony ONE, while is the same as setting up for BSC, is harder to setup right and may slow adoption.
  • There is not a lot of good resources out there that clearly explain how to set things up which only compounds the issue.

Bottom line

I am super bullish on HARMONY ONE. I will try to help that last bullet point out a bit by adding some guides on setting up your metamask account properly. And I will try to write a piece on Viper ONE in the near future but… Things are going to get really really busy for me in the next 8 days for a month. So, I am trying to write enough content to keep pushing information out and Harmony ONE isn’t the only project that I want to write about… So… I will do my best! But with that being said, I took the time to write this posting over my BSC DEXes update because I am extremely optimistic about Harmony and I think it should be frontloaded. I will do my best!

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