Bringing Utility to the Harmony Blockchain | [UTIL]

Hey everybody!

A friend of mine and I have long been thinking about launching a project on Harmony that provides utility for all users. Therefore we would like to announce the following: We will be launching UTILITY token [UTIL] on Harmony, providing harmonious value to users. It’s designed to become an advanced utility token built on Harmony , offering benefits aimed at improving your experience within the Harmony environment. Think of simplifications of smart contracts, last resort tooling and much more.

Curious fellas can have a look already at our V0.1 here: https://utilitydao.one/

You can read what are we planning to provide in utility for users in the text below :point_down:

In-Depth Look into [UTY] Token Utilities:

1. Liquidity Provider (LP) Fee Breaks:
Users who participate in liquidity pools while holding their respective Tokens are sometimes unable to break their LP’s, think of scenarios like Viperswap [ VIPER], Hermes Defi and many more older projects that since have migrated. Using our Utility platform users can break any LP to retrieve their assets back without any hassle and industry low fees. Are you missing support for your LP? Contact us to implement them on a short notice.

2. Token Burn Events:
Periodic token burn sessions decrease the circulating depegged Token supply of the horizon hacked assets, thereby concentrating ownership and potential scarcity effects. As demand remains consistent or increases, reduction in available supply may result in gradual appreciation in token price, benefiting dedicated users of the Harmony repegging effort. We aim to do this with $USDC and $HOG while keeping a 1 on 1 parity with $UTIL to $ONE.

3. Effortless Token Generation:
With streamlined token creation procedures facilitated by the UTILITY token, novice and experienced developers alike can deploy their own custom tokens effortlessly on the Harmony platform. Enhanced accessibility contributes to boosting creativity and innovation across the entire ecosystem. We would love to provide you with the tools to create your token with endless boundaries! Do you have a request that is not provided yet? DM us for some tailor-made solutions. Currently we’re looking heavily into the Layerzero smart contract tooling.

4. Easy to integrate User Interface and Smart Contract Implementations:
Having completed rigorous testing phases via various proved dapps, our UI design caters to both beginners and seasoned Harmony users seamlessly integrating with existing wallet systems and dApps. You can deploy your own UI in the near future with ease!

3. Liquid token research:
As we’ve seen that there is no active Market Making (MMíng) and incentive for liquid staking on Harmony (since Defira seems to be/is migrating), we’ve come up with the idea to launch a liquid staking token (uONE or uUTIL) to incentivize liquidity generation across the space. More info to come.

We encourage harmony community members to provide us with feedback and ideas on how to create more utility for token holders, we would love to embark on our web3 journey with you!

Follow us closely for real-time updates leading up to the our upcoming launch day & feel free to follow me on twitter

Cheers!

5 Likes

Keep Building :muscle:

Glad to see your project come to life :raised_hands: ser.

I’ve actually already used this, burning :fire: mechanism,
Actually makes burner tokens ALOT easier.
Thanks for what you’re building
#Recovery
Burn :fire: Depegged assets MADE EASY on

HARMONYONE

3 Likes