Proposal overview
BoringDAO’s oPortal programme provides the fastest, safest, most user-friendly bridge to help people transfer their assets to Harmony. Currently, oPortal supports $USDT cross-chain between nine blockchains (Harmony, Ethereum, Polygon, BSC, Avalanche, OkexChain, Heco, xDAI, Fantom), we will include Arbitrum in the foreseeable future. Our goal is to break the barriers between chains, make the crypto space become borderless, make sure your assets can be wherever you need them to be within the shortest time. Mathematically speaking, oPortal has 72 cross-chain combinations, for now, there would always be a combination that meets your need. According to our data, the liquidity of Harmony is zero which means our users have the need to move their assets to Harmony and undoubtedly want to move more of their assets to Harmony through oPortal. therefore we are inviting the Harmony community to become the first Liquidity provider of oPortal on Harmony.
Team
Enki Yan, PhD in Finance, Former college associate professor, Flow Ambassador
Mike Meng, Former founder of G5 Labs, senior token economist
Stephen Dang, 4 years blockchains wallet engineer, ETH community developer
Dewei Liu, DeFi farmer & investor, Two years marketing experience
Tony Wei, Head of MXC Research
Proposal ask
20K
Justification##
All the funding will be staked into the liquidity pool of Harmony. all the cross-chain fees will be rewarded to LPs.
excited about a new bridge for Harmony. will help farmers on the chains move their asset to Harmony easier and save some gas.
PS：love to see if ONE token can be also transfered between chains.
Hello @TheWay.Liu -
Apologies for the delay in getting back to you regarding this grant request. I have been examining our guidelines to find the best way to include your request.
To start - I don’t believe you are looking at an “Investment” grant. From /300:
50 Investments ($20M). Tokens of each investment are on-chain and semi-liquid. Harmony helps evaluate technical strengths, market potentials, and ecosystem alignment. We recommend $250K-$1M for each check at maximum $10M valuation, collaborate over events and campaigns, and rebalance portfolio quarterly to diversify.
That doesn’t seem like it matches up with what you are looking at doing.
Alternatively, we can look at the “Ports” grant. Also from /300:
100 Ports ($20M). Recipients of each grant for porting must have achieved product-market fit. Harmony helps scale these thriving projects to our mainnet. We recommend $50-250K each over 4-8 weeks, on projects already with active 10K users, and engaging their teams in public forums. Prime areas of market growths are Play-to-Earn games, musician fan clubs, investment DAOs, portfolio dashboards, and event and collectible curators.
Looking at product-market fit, we usually look at that from a total active user metric. I took a quick glance at your socials and it looks like you have about 1K+ on discord and over 10k+ on twitter. That’s good. Shows that you are engaging with your community. However, can you point to your active wallets?
I also see that your bridge has over $100M in TVL, which is also very good and encouraging.
Further detail around the “Ports” grant can be found on /apply:
For these projects already live on other chain’s mainnet, Harmony’s Port Grant can boost their reach of users and engagement. As grants, we give $50K for porting to our mainnet and another $25K for forming a DAO on our platform. For any project, a DAO ensures community participation, product sustainability, and open governance. We recommend a 5-out-9 multisig account on Gnosis Safe with 3 governors from the project team, 3 governors from the project community, and 3 governors from Harmony DAOs – namely, ONEcommunityDAO, ONEdeveloperDAO, ONEincubatorDAO. We also give five additional $35K grants, totally $250K with the initial $50K+25K grants, each for running joint campaigns to double the key user metrics.
I am aware that you have established a DAO already on another platform – would you be willing to establish a Harmony specific DAO as well?
This is the matrix I am thinking about for your grant. What are your thoughts. Is this something that works for you? Any considerations or clarifications that you might need?
thank you for your suggestion. you are correct. rather than investment, what we are really looking for is Ports Grant which will be used as liquidity and liquidity only.
and we do not have the plan of building an EVM-compatible chain specific DAO right now.
hey Sam, i have gone through the 100 Ports guideline. now how do I apply for it, do you re-write a proposal apply for 100 Ports guideline or I should edit this one if it’s possible.
@TheWay.Liu – It would be great to approve your grant request and move it to Funding.
(1) Can you point to your total active wallets? I am hoping we can see a good 10k+ users.
I am happy to approve you for $20K grant given a good active user base. How that will be paid out is as follows (slightly modified from harmony.one/apply):
$10K after launching a feature-complete product on our mainnet with audit
$10K after 1K daily active users (with launch video, full PR promotion)
I would also be happy to approve an additional $20K for hitting the following milestones as well
(a) $10K after 10K daily active users (with a detailed roadmap and a governance process)
(b) $10K after enabling HarmonyONE holders to participate in your DAO.
Hey! Sam, we have active 10k+ users located in these nine blockchains and we accept the grand under these conditions! and we actually holding our 1st-anniversary event which is related to the Harmony community and prize pool is over 100,000 USD
