OINDAO V3 is a multi-chain decentralized stablecoin issuance platform. Through the deployment of the system on Harmony, it will enable the minting of ONEUSD - a Harmony-native decentralized stablecoin collateralized by ONE. This OINDAO stablecoin issuance platform intends to become one of the essential DeFi infrastructure within the ecosystem, supporting the growth of Harmony ecosystem through:
(1) encouraging mainstream adoption on ONE ecosystem projects
(2) bridging the gap between fiat and crypto therefore managing the risk of volatility
(3) encouraging an increase in velocity of value within the Harmony ecosystem via an easy to understand method of transaction
(4) creating synergy between tokens on or bridged in Harmony through its multi-coin farming functionality.
We are requesting $50,000, to help us evolve by adding more DeFi functionalities, creating a bigger community and refining our platform as we continue to reach the next milestone.
Current milestones achieved:
Founded in 2020 - one year in the DeFi crypto space
Approved for $50K Launch grant. Congratulations to the team and welcome to the Harmony Ecosystem!
Looking forward to the first milestone for a Testnet Launch built on Harmony.
“Testnet Launch” means launching a feature-complete product on Harmony Testnet. We define feature complete to include a user interface, connection to a wallet (Metamask, Harmony ONE Chrome Extension, etc.) on Testnet, and can be tested end-to-end by at least 100 users.
Follow up on the liquidity provisioning that’s mentioned in the thread. Thanks again for providing $1M liquidity in ONE in our stability pool to bootstrap oneUSD and bolster the peg. We are excited about building DeFi infrastructure at Harmony and empowering DeFi Applications.
Here are the steps (link will be provided after the product is lived on mainnet scheduled at 1/17 11:11 pm PST):
enter into the oneUSD landing page
connect your wallet
borrow oneUSD with wONE
put the borrowed oneUSD to our stability pool
Please let me know if there’s any question. Thanks
There have been some changes to the circumstances of the deployment plan, and thus we are asking for a change in the milestones to better suit the current status.
We propose that we remove the week-based time limits on the milestones as they were not applicable due to delays as a result of contract upgrade and audit
The “10k user” milestone doesn’t seem to be the most suitable metric, so we propose replacing it with “achieve top 5 TVL on Harmony excluding the initial liquidity bootstrapping from Foundation” based on data on DeFi Llama
Hello, it has been a few weeks since OIN launched. I’d like to request that you provide an update post on how things are going and what the numbers look like in terms of usage, utilization, users, or whatever else you think is relevant. (You can check some threads of other funded proposals to see how they formatted theirs - in particular, I like what MarsColony and CryptoRoyale did in providing updates).
I’d also like to note that your Discord is not very active and it is hard to get things answered in a timely manner there. The last announcement (and only) posted to the #announcements channel is from August 2021.
As far as I can tell, there’s no liquidity for OIN on Harmony yet, is there? Does the team plan to enable the users to do anything with their OIN rewards? (Also the APR% on providing ONEUSD to the stability pool has dropped to single digits even as $$ in the pool has gone down)