Harmony Q2 2022 Offsite Report

Awesome, appreciate the swift reply and my bad for missing the obvious, looking forward to seeing more from you guys :slight_smile:

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Looking forward to seeing you around the talk forum :blue_heart:

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Hey @No_White_Flags :wave: I think @frwrdslosh quotes a section which I hope speaks to your concern. The team will be raising the bar on DAO funding; a plan for independent financing, accountability, and clear measurable contributions to the ecosystem will be extremely important.

In other words, this means that in order to receive bootstrap funding, DAOs will need to come to the table with a well laid out plan on how they will continue sustaining themselves while contributing to the ecosystem. This should lay the groundwork for quality DAOs that grow, contribute, and generate their own income for long term sustainability.

Overall, the important take away is that grants will be evidence that we support a proposal’s objective and plan, but no grant should be considered operational cash flow for the grantee.

Higher bar. Higher standards. Requirements for self sustainability and clear contributions.

Hope that helps!

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I am glad to know that Harmony has taken advantage of the meeting that the team has had, it takes more commitment and confidence to face this new technology reaching millions of users and knowing that Harmony is the ideal place to get involved. Large projects want to use the benefits that the Harmony blockchain brings and it is very important that the general team is prepared for it. I take this opportunity to comment that in Spain, the community of Madrid is very interested in blockchain technology and they intend to be the bridge between Latin America and Europe. My team and I are currently involved in this project and we intend to present Harmony as the best option to develop all the projects that they want to carry out in this association, we hope to bring new news soon. On the other hand, I would like to know personally how the DAOs that we have previously approved are left? We presented Tucsac DAO in February for $75k and we were approved with a reduction of measures that were presented for $50k and currently we met 2 of the Milestones that they asked us for $30k 22 days ago, since then we have not received the payment for the milestones Are payments going to resume?

This is impressive. Im starting to get extremely bullish on Harmony again. Gonna buy a big bag now that its super cheap. Super excited for the 1BTC Yield Program!!!

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@dpagan-harmony @frwrdslosh

Who is going to be approving of these grants? 1DAO Alliance?

If so, 1DAO alliance is said to be made up of current DAO members since “DAOs know how to DAO”

The community needs clarity, transparency and representation.

Why is it that someone thats NOT in a DAO be eligible to govern and audit these funding requests?

Like myself or many others who are capable?

If the same people are approving grants now that were pre off site then nothing will change and the community will cause more issues.

To this day, only @frwrdslosh has responded to any of my questions in this forum.

I rallied the community that change was coming!

Now its obvious its all the same.

Your 300 total community votes, 66% no vote is going to back fire worse than it was before. I listen to every DAO OPS call.

Clear disconnect between your investors and core members.

No one here is talking about ‘how are we going to get average Joe’s to invest in Harmony during a major recession?’

Even with today’s update. Your community doesn’t know whether you are DEFI or GAMEFI now.

The disheartening thing for me everyone.
I work 55 hours a week as a CPA.
Been an investor in Harmony well over a year.
I come on here, reddit, discord, etc. to help this community without asking for a dime.

All i wanted was responses from the team. Communication and caring cost nothing.

That is what hurts the most!

Cheers!

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Hey @amartay1986. To the point of “Now its obvious its all the same” - I’m curious what specifically is the same, if you don’t mind explaining. The initiatives are both new and existing but re-prioritized, all focused on fundamentals and pushing us further.

Are you referring to specifically to DAOs? If so, I’m curious if you noticed the message under the “Grants” section stating the new requirements which should result in financially independent DAOs with clear mandates that contribute to the community.

With regards to the average Joe supporting Harmony, I would like to offer a few points from the report:

  1. Marketing and Communications - the role of each is to ensure our products and accomplishments will be digestible to our audience, which are developers and blockchain users/enthusiasts. This is how we reach them and with the right messaging, plus…

  2. Emphasis on the technology - Building on the platform with additional features and integrating new protocols. Our blockchain is advanced, and these initiatives will continue pushing us down the path of being a top-tier platform for Web3. Cross shard messaging, expanding on our protocol roadmap, resharding (from our roadmap), enhancements to the trustless BTC bridge.

Couple these with upcoming partnerships and announcements we’ll be packaging, plus our top-tier technology and features coming soon, and we have a great set of stories to tell in a well manicured package.

As for the disconnect described - I would argue the opposite based on feedback from the ONEWeekly special episode, the report post on Reddit, and the feedback we’ve seen on Twitter and above so far. We’re listening quite attentively, but remember that nothing will change in a few days or weeks.

Thanks for being part of the community. Your passion to see us succeed is clear and obvious, as well as greatly appreciated. I say this sincerely @amartay1986.

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Do we have an eta for these?

Great to see a renewable purpose and focus on the tech and ecosystem. Glad to see the website is getting rebuilt and marketing down the pipeline.

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Daniel,
All I care about is DAOs because it is a major monetary issue for Harmony.

Lets go over a couple view points of DAOs moving forward.

  1. Will DAO funding moving forward only flow through 1DAO Alliance?

  2. Per Harmony DAO OPS call in early May. It was stated “Only DAO members can serve on 1DAO Alliance since they ‘know’ how to DAO” Is that correct? If not, who can serve?

  3. The community has found numerous DAOs that all in circle each other with rotating governors. These same governors probably account for over 10-15 ‘funded’ DAO/Project X.
    Given this info from the above statement. How could you possibly expect change to come from DAO governors when they are all friends and colluding together?

  4. Golden DAO- Was given 100k immediately by Li. Jack automatically approved it for Project X grant. Metrics are, (in all seriousness) Golden rings given to founding members, Bitcoin Miami trip, private parties. Twitter pretty much nonexistent, Discord link is supposedly private. Just within the last 5 hours they are requesting the other two portions of $100k and 200k. You have 2 Harmony team members serving a role on that DAO!!! You call this decentralization?

It’s appalling and embarrassing how many grants have been funded that are NOWHERE to be found as of writing this. You think you are going to fix this by coming up with metrics yet the same people in Harmony will have access to approve or deny grants? I like Adrian and his work ethic, he came up with the idea of Project X grants and none of them help Harmony in any way. Source (His own answer to his 1-10X Yes/No)

Who on the Harmony team has a resume of running and operating a business?
5 of us are on your page 1 list of rich list. We are all CPAs, private equity firm execs, etc.
Harmony would never take our professional advice because you just don’t care to!

I noticed you didn’t respond to my question on why anyone outside of the Harmony ‘clique’ cant get in to do some real change?

I also noticed you didn’t respond to my 300 votes, 66% non approval for community members moving forward. How do you think that is going to go over with them when they realize Harmony has rigged its DAO grant approval voting?

Marketing and Communications- No one is going to invest when they find out the CEO founder Stephen Tse is in hiding. Say whatever you want but that is the overall impression across the board. I have been calling for Marketing and more employees since April 2021. Now Harmony wants to do it when they have no other option? Price at all time low? Feels like you are forced to do it because of the community backlash.

Emphasis on technology- 2021 Defi a complete bust. 2022 BTC bridge complete bust. Where is 1wallet? This goes back to the topic above. You guys are now forced to do what the community has been screaming about because you have no other choice.

Community sentiment is at all time low and about to get a lot worse.

Ending questions:
Why not give someone from the community a chance to voice their concerns to the team?
Why are Harmony core members advising DAOs/Project X that they are personally approving? Does that seem decentralized?

Li gave everyone a look back to the financial collapse in 2008.
Let me give you my example of 2008 vs what Harmony is currently doing with DAOs.

Harmony is the equivalent of Bear Sterns executives cutting themselves checks on the top floor (true story) when shit was hitting the fan. Then they come back to the Fed oversight committee with a list of financial metrics they are going to use to do better. With the same exact EEs that started the mess to begin with.

Everything to do with Harmony DAOs is 100% centralized decision making.

Unfortunately, at this point, I am exhausted bailing out the poor decisions being made at the top.
I have said my goodbyes to the investors that helped me along the way on here and reddit.

This will be my last post in regards to Harmony because nothing is going to change until different people are brought in. Same bad choices/Same logic/Same people/ Same results…

We are out.

Cheers!

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Great update!

Regarding the gaming SDK, does this include Unreal Engine 5 and if so approximately when could we expect to see this SDK available? Second half of 2022? First half of 2023? etc. I would like to make sure our devs aren’t working on the same thing in order to reduce redundancies and costs.

I want to comment on this with maybe a little personal example.

As FoxSwap, we have been approved for grant in September last year. Since then, first two tranches of the grant have been paid out. On March 25th, I have posted that we have long fulfilled 3rd milestone, with details. In fact, we have far and beyond over delivered if you look at product scope of initial grant. Recently, we have been asked to also make a video as a deliverable. Which we are happy to do but the point is that we have not known that and would benefit from clearer outline how grant milestones are measured from beginning.

I think stress should still be on delivering a working product first and foremost for all grantees, be it for launch or DAO grants, as to avoid grantees focusing on just creating nice videos.

I also want to point out that FoxSwap definitely wants to do just that and we have asked for it a while ago already. To be frank, FoxSwap is one of the oldest protocols on Harmony, we are native, praised community DEX with suite of DeFi products already in place, we shouldn’t have to struggle with grants, co-marketing and such. We are excited to build and deliver awesome solutions that are already there, usable for all users.

I think my main message here, beside what has been pointed out, is that these initiatives are great and I am happy to see Harmony take hands on approach, wants to listen to community and improve. I believe, these initiatives would benefit from more transparent/actionable breakdown — such as e.g. SMART definition of goals: Specific, Measurable, Achievable, Relevant and Time-bound.

I think the main advantage of business like Harmony is the ability to be agile in very fast paced space line web3, with fierce competition. I would however still like to utilise some professional management tools that have been developed in corporate world.

I think such transparency/accountability will help projects like ours (and CU as evidenced by message above asking for timeline) as well as whole community so that we can find success and benefit Harmony at the end, which we all want.

Last but not least, I think personally I am most excited about GameFi shard, even though that’s not something that will benefit FoxSwap directly.

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Hey @wizzardblizzard. We intentionally omitted certain details to avoid spoiling launch / go-live announcements. I’ll share a bit in our private grantee chat on Telegram but we’ll still keep it a bit light in what information we can share, though you bring up a great point so we’ll make sure that our efforts are aligned.

Thanks!

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Hope you’re doing well @ongon and thanks for the reply and feedback. I’ll paste a comment I made to another community member on Reddit who shared a similar concern:

News is only news when it’s new. If we want to do proper marketing, we cannot get into the nitty gritty details or we will deflate the impact we can potentially have. I want everyone to know what we’re up to, but I also want us to make sure that our launch announcements make a splash and can go out to the right media outlets.

To your other point, “I think stress should still be on delivering a working product first and foremost for all grantees, be it for launch or DAO grants, as to avoid grantees focusing on just creating nice videos.”

100% agree - the co-marketing pipeline is being worked on by @Globey.one and he’s working with me to ensure it’s both fair and strict. We want to co-market products that are high quality - some don’t have a full product out yet but 1) these teams are being vetted and 2) we’re helping attract attention so there’s more eyes on their progress. But again I 100% agree and we need to be careful here. I don’t want us to co-market a non-product. This isn’t perfect at the moment and have incorporated this into the pipeline.

Hopefully I read and interpreted your feedback correctly but, if not, feel free to let me know!

Thanks again @ongon. Let me know I didn’t address something or misinterpreted the feedback.

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Hey there @A_TI. Each are in progress with Q3/Q4 as the ETA but a more specific ETA is being determined and solidified for marketing purposes. Once we have that, we’ll make sure to communicate it. Certain details are being withheld as mentioned in the report but this certainly won’t be the last you hear between now and go-live.

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Thanks, Daniel. I am looking forward to see all those initiatives unfold by Harmony

Hi team,

Nice update and great to see a lot of energy coming from the offsite :slight_smile: we (nobank.one) have a question - who can we contact for the 1BTC Yield Program? We would love to integrate that in our smart wallet!

Thanks for a quick answer,
Mario

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congratulations to all this team, community and energy that emanates in an incredible result. we in Lisbon are doing our best to be able to contribute in this era of Web3 and to spread the methodology of Harmony One and its exosystem. can count on our community and our entire team. :hot_pepper::heart::rocket::atom_symbol:

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This is fantastic news. I hope that those who have been so opposed to the DAO focus will see this as an important part of growing the Harmony ecosystem, with tighter requirements for the grants now in place.

DAOs are not THE most important focus, but combined - a technologically competitive chain & products (shard improvements, 1Wallet [hopefully], definitive Dexes, lightening fast finality, security and scalability) along with a growing community (a la Cardano’s Catalyst and staking communities) and GameFi, NFT platforms, etc. - should put Harmony on the level with the current layer-1 leaders, in due time.

One of the biggest wins here for Harmony, its investors and community is the way this process unfolded and the leadership emerging from the cloud of smoke as top notch. It gives us the confidence to move forward together united as ONE, more than ever.

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Hello. Can you please tell me if the recommendations for regional DAOs will be updated? The creation of a regional DAO can be compared to the creation of a large-scale infrastructure project, so it is very important for us to know the vision and position of the Harmony team. We have now prepared a proposal and look forward to your guidance on proper independent funding planning, accountability, and a clear measurable contribution to the Harmony ecosystem.

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