Grant: OIN Finance & ONE Stablecoin

Name of Project / DAO / Company

OIN Finance

Application type

Partnership / Grant

Proposal overview

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
  • We are a growing team of 17 people
  • Total Valued Lock: $1,943,730.0
  • More than 9k telegram community members
  • More than 18.5k twitter followers
  • 19+ partners
  • 3 issued stablecoins
  • Released OINDAO V1
  • Released audit report of OINDAO V3

Our milestones are:

  • Week 1 - Harmony Testnet deployment
  • Week 2 - 3 - Finalize collaboration with 2-3 Harmony ecosystem projects to create solid use cases for ONEUSD
  • Week 3 - 4 - Private beta test launch and public launch of OINDAO on Harmony
  • OINDAO plans to acquire 10k users within 3 months of public launch

What we provide

  • Deployment of a native CDP-based stablecoin issuance platform on Harmony
  • Tech support with smart contracts to set up key risk parameters
  • Liquidity mining incentives
  • Extensive stablecoin promotion to encourage both on-ramp and off-ramp use cases
  • Customization of frontend

Proposal ask

$50,000 in development funds
$1M seed in ONE tokens to help stake and induce liquidity

Metrics for success

OINDAO plans to acquire 10k users within 3 months of public launch

External links

https://oin.finance/

2 Likes

Thank you for submitting a proposal to Harmony’s $300M Ecosystem Fund.

This is very likely a historic milestone as another small step towards building a strong foundation for Harmony’s ecosystem.

We are in the process of reviewing your proposal. We would also love :blue_heart: to have the Harmony community participate to ask questions and provide feedbacks.

1 Like

This is very exciting for the ecosystem. Can’t wait to utilize it in a liquidity pool on viperswap!!

Approved for $50K Launch grant. Congratulations to the team and welcome to the Harmony Ecosystem! :tada:

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.

Meanwhile, to prepare receiving funds, email your identification documents to kyc@harmony.one and create a Gnosis Safe MultiSig wallet at https://multisig.harmony.one and using instructions below
:arrow_right: Setup Gnosis Safe with MetaMask & 1Wallet

Checkout the Funding FAQ for further info at Harmony Funding FAQ. Join the Harmony Grants Telegram channel to share your story and to gain partnerships there by growing your own ecosystem.

We’d love :blue_heart: to see weekly updates on this thread to keep the community posted on this proposal’s progress!

Hello Jack!

Thank you for the great news!

We’re excited to work on getting Harmony’s own stablecoin out into the world, and look forward to working with you on making this a hyped success!

We’ll definitely keep in touch regarding upcoming milestones, and align on the marketing, BD, and other related activities to give it a good launch.

As for your request for updates on “this thread,” did you mean this e-mail chain or the grant proposal in your community?

Best regards,
Daniel Kwak

Great News! Contratulations OIN!

by Korea Harmony DAO & Coineasy team.

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):

  1. enter into the oneUSD landing page
  2. connect your wallet
  3. borrow oneUSD with wONE
  4. put the borrowed oneUSD to our stability pool

Please let me know if there’s any question. Thanks

confirmed from the harmony team.