Harmonyan - A cross-chain generational yield farming product with benefits to native token holders

Name of Project / DAO / Company
Harmonyan/Nyanhub - a product of the Nyanbase group

Application type
Grant

Proposal overview

Harmonyan is a yield farming product, designed to utilize the security and the speed offered by the Harmony blockchain, allowing users to reach higher profits and yields by tapping into the user-bases of other L2s, sidechains and other blockchains that are EVM compatible.

The cryptocurrency space is extremely segmented right now. Yield-chasers switch networks and blockchains as soon as they start trending, and very rarely do they remain loyal to the farms of yore. Hence, it is no wonder to see TVL wildly oscillating in DEXes, yield farms, and crypto products that are farmable in general (via pre-sale, initial liquidity mining, or otherwise) over the course of just a few weeks, if not sooner than that. People are looking for the juiciest of farms, and the coins which have upside, rather than a tremendous amount of downside, and due to how welcoming exchanges are (so they can extract a maker/taker profit on trades), they’re very eager to get you to move from one chain to another, to purchase financial derivatives such as PERPs, margin trading, et cetera.

Some aim to mitigate this by introducing a penalty for leaving a farm early, so-called “exit penalties”, or even entry penalties. This only serves to prolong the inevitable, as it does not solve the intrinsic problem.

Harmonyan aims to deliver a comprehensive, ONE-centric ecosystem that adds value to Harmony, as other chains’ TVLs are growing

It aims to mitigate the following:

  1. Low liquidity for tokens once the ‘honeymoon period’ is over, not allowing for the facilitating of bigger sells and bigger buys - basically, an aggregator akin to 1inch.
  2. The lack of a yield farm aggregator that balances one’s portfolio across different chains , “chasing the yields” for you, in accordance with your risk preferences, as well as the market trends!
  3. The inability to leverage things like 2s transaction finality (soon to be 1s), cross-chain , in the context of compounding, something that is native to the Harmony blockchain, in order to propel yields to unprecedented heights in a sustainable manner. The low transaction fees are fertile ground for a project like this.

Upon the successful launch of our third chain rollout (second being BSC, due to proximity via Horizon bridge, ease inbridging custom tokens, and easiest to form a proof of concept that we will build upon later on), the community will, if the period is less than the 3 months aforementioned, be able to vote for changes in how harmoNYAN-related pools will be rewarded in subsequent chains. Basically - a product whose fate, on all of the chains, is decided through HarmonyONE hNYAN token holders, in a transparent manner.

As of right now, we have 4 team members:

Stefan, co-founder, coder and tech lead for the project
Harmonyan Neko, business manager and team organizer
Harmonyan Santa, a CM and junior dev
Harmonyan Lucky, CM, front-end webdev and advertising

We’ll most likely be onboarding a female community manager and graphics designer to help us with the NFT collection which will, at first, be distributed to those who have provided liquidity over the first 7 days whether in the ONE, hNYAN-ONE, or hNYAN pools.

The contracts have been undergoing testnet, with vaults going live after the ONE single staking pool rewards end for liquidity mining the native token, which should be roughly 7 days after the launch. The token will be mined only via LPing ONE-hNYAN, and will remain exclusive to that pool. The hNYAN token itself will be necessary for setting up user profiles and being eligible for airdropped rewards for stakers/farmers on the other chains we launch on under the Nyanhub/Harmonyan umbrella, soon thereafter, and will also be necessary for the further layers of farming. The buybacks and burns exert deflationary pressure on the token and it incentivizes users to hold, or even migrate their farms to HarmoNYAN, as the generational farms will only launch on Harmony ONE.

Later down the line, you will be able to control, by proxy of Harmony ONE chain, the assets you have staked on other chains, in farms under the Nyanhub name, later down the line.

Website and key visuals are being launched within the next 2-3 days, as the team is taking on multiple roles at once, hence the need for expansion.

Given that this is a pet project of the co-founder, and that we’ve known each other for a decently long time and there is a degree of trust, the team is funneling their personal finances into boostrapping initial liquidity hosted on Sushiswap for the token, as well as the costs associated with website building, advertising. So far, we’ve grown to around 140 members on Telegram without having paid for anything other than a 36h ad campaign (45 USD), and we’ve exclusively grown through word of mouth, and we expect to reach around 200-250 before launching in early October once we’re sure we have the vault masterchef coded

The funds we’re asking for will be primarily used for paying a 3rd party, independent audit of the community’s choice, ideally through Snapshot voting, but also through a Telegram poll if the grant arrives earlier than expected, as we have a decent anti-bot system in place.

Second of all, we’d prefer to also on-board a community manager that is also a verified, elected, Harmony ONE delegator, to further bolster community trust and cohesiveness, who would be in a time-zone different than the two CMs we have currently. Right now, everyone on the team is sort of doing everything they can, in order to facilitate a timely and secure launch.

Third, although (and we have checked this with the arbinyan dev and creator of nyancat, @PRguitarman) nyancat (brand) belongs to the internet, the pixel image is a different story, and we’d like to get original designs from the talented artists here on the chain and rebrand ASAP, hence we’d organize a Twitter contest where the best designs (picked by the team members and also Harmony developers, at an equal rate), would compete for a prize covered by the amount from the grant.

The costs of the contest, aside from the prize money would also include advertising the contest, which we’re really more expecting the Harmony team to help out with their brand power, rather than us wasting the money on advertising our product to people already present on Harmony. If there are ads that should be ran, they should be done so they can convert other chain users to Harmony.

Proposal ask
40,000 USD

Metrics for success

Number of altchains/sidechains/L2s harmonyan products launch on (EVM-compatible chains only taken into consideration, for obvious reasons)
TVL across entire ecosystem (joint TVL)
TVL on Harmonyan

External links

Linktree to Telegram, Twitter, Discord, Medium litepaper

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Hi, I’d like to bring to the attention of harmony moderators that this Dev/project has been found FUDDING other projects, notably one that has recieved a grant already and has a working testnet. He has gone as far as to offer a bounty for people to find UI the same as his. I personally witnessed him coming into Artemis discord and spreading his bounty again continuing to fud artemis which was quickly deleted soon after. He has continued to cause even more drama lately continuing to tag Li jiang and even Stephen Tse again including his bounty. I personally see this project as a high risk and don’t think that harmony should associate with project leads that conduct





themselves as this one has.

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I’d also like to include that it seems to be targeted Fud, it’s been brought to my attention that there have been several posts made on reddit written exactly then same as the tweets which pictures I linked. It seems to be the team behind harmonyan because how how similar it is but of course I can’t be certain.

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To be honest, both projects seem a bit like sketchy cash grabs to me…

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I’m glad Mr. Lamb (Ignacio) has taken the time out of his day to make these posts, even though he is not discussing our project, as should be the norm in these threads, but instead furthering allegations of a witch hunt.

I’ll be very brief:

  1. https://twitter.com/ProtocolArtemis - 400 followers, 0 following, flagged by Twitter’s autobot - also interesting is the number of discord members as opposed to Telegram members, and no participation on it whatsoever, plus use of dubious invite-only bots.
  2. https://thelab.finance/ is literally the same as / https://testnet.artemisprotocol.one/ (since a few hours ago changed on mainnet)
  3. No rugdoc.io (whilst coming into our telegram chat, days ago, to propose we do the same) application; while not necessary, is supposed to be a show of good faith?
  4. Artemis’ CM Snappy had personally provoked, ad-hominem, in our own group. I suppose getting a grant ( contingent on a criteria, no less) gives people the right to say we ought to “lick their big fat gains”? Is this really what we consider Harmonious, these days?

. I personally witnessed him coming into Artemis discord and spreading his bounty again continuing to fud artemis which was quickly deleted soon after.

It wasn’t a discord chat, since we are mainly telegram-centric, our own CM Lucky went into your chat and wanted to participate in the discussion regarding the alleged front-end copy, and there’s been numerous reports that there have been bans dished out on your Telegram chat, by your own moderators, which I don’t think is in good faith for the community either. If people found out whose front-end you ripped off, then you ought to man up and own up to it, instead of banning people. What’s more - you didn’t emulate an existing successful project, but an obscure “project” (labo finance) which died a very slow death.

I also don’t think this is in good faith either - this was our chat, and we didn’t delete anything, his CM did it after realizing how asinine it is to even go around insulting, ad hominem.

image

What our CM posted on Twitter is simply a tongue in cheek comment on what is going on, and not poisoning the well by any means.

I think there’s a big difference between forking PancakeSwap, ViperSwap, Loot, Curve/AAVE, and their front-ends, and forking an obscure project from April that imploded on BSC and was left for dead back in May. We’ve literally said what our strategy is and what we plan on doing, which tokenomics and what our front-end will look like, and we never pretended otherwise.

The fact that the Artemis Protocol devs have two twitter accounts, one of which is flagged by Twitter, a myriad of fake Discord followers (or gotten through dubious invite-only schemes in the promises of an airdrop), has stolen a front-end of a website from a tier 4 BSC project that was never successful, and is “launchpadding” a project from June, ported from FTM, which has very vulgar words on its farms, is undeniable.

The only thing worse than this is them trying to paint us as launching a smear campaign against them, when the only thing we did was tweet our very own opinion on something happening in the community, and refusing to lick their “fat gains”, as their CM “Snappy” would put it. Our co-founder would love to go live, on youtube, with their founder and/or representative, but unfortunately I don’t think they’ll be doing that :slight_smile:

Transparency is the one thing we pride ourselves on, and we do not employ any Reddit marketers, commenters, upvoters or downvoters, which you can see also on the Harmony forums, since the first post on this thread is an attack in the form of virtue signaling, rather than stating facts about the project we are launching (as should be the norm). Very disappointing to see, especially after we accommodated for their date of launching, by delaying our own, so that we would not dilute their pre-sale and fundraising.

This is a clear sign of someone panicking, and we stand by our actions of tagging the relevant authorities on the Harmony blockchain, as we have nothing to hide, and aim to be as transparent in communication as we can - to the point of having members of our team be at the disposal of the community, rather than banning, muting and deleting.

One thing is certain - the facts are there for those who want to do a bit of digging.

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I have no idea what is going on with all this FUD and accusations but the first thing that came to my mind when I read the proposal was, why are you giving pseudonyms instead of your real names? Thanks!

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It seems to be the norm to stay anon or half-anon in defi, but our team lead Stefan is willing to go on camera for an AMA in a few days (scheduled to be on YouTube, check our Telegram for more details), as well as, in the case of getting a grant, doing what the Harmony team proposes we do. Very few people are using real names in this space, and we felt that nicknames (a la PancakeSwap chefs) are more appropriate and people are more familiar with in this space.

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Thanks for the reply. I am not sure what criteria the core team is applying when granting funds to non IDed/Doxed founders but I personally would not grant money to anyone without a proper KYC. Call me old fashioned.

The team has to see what falls under best practice in the space and if the grant program can be applied in such a case.

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We’ve done an AMA today with the official Harmony Community channel, courtesy of the mods there.

First Harmony Community Telegram AMA Transcript w/ Harmonyan Neko | by Harmonyan | Oct, 2021 | Medium

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Not sure what the catfight is all about, but this project seems interesting. It could help reinforce the idea of a multichain future if Harmonyan is successful of course.

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I can see passions running high on this project. Holding onto FUD is like holding onto a hot coal. You are the one who ends up getting burned. Thought a social media style quote was appropriate for the social media style drama in these replies.

I am bullish on Harmony ONE DeFi and will be interested to learn more about this project after the audit

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Thanks for taking the time to respond! We’ll be sure not to let you down, and we hope the Harmony team can get in touch with us, or even probe us with questions at the AMA.

Furthermore, we’ve updated our website to have a News section, and started our JP and PH communities. Nyanhub.one for all the latest info.

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@Lamb really appreciate that you have pointed things out across another chain. Being half glass full, I do see strength in marketing by the Harmonyan team (not to be mistaken for praising anyone).

@HarmoNYAN a few questions

  • which GitHub repo do you have today, or which one do you intend to fork from?
  • where are the funds coming from the bootstrap the initial liquidity?
  • how are you planning to audit this?
  • the metrics of success are unclear, please review Apply for Grants or DAO (looking for 10K users), and what are the TVL targets and the number of altchains/sidechains/L2s?

Applications of each launch must have prototyped a feature-full product. Harmony helps incubate these founding teams with product development, fundraising, and talent recruit. We recommend a $50K equity-free contribution each: $10K after launching a feature-complete product on our testnet, $10K after mainnet launch, $10K after forming a DAO with its community, and $20K for after 10K users.

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I’d also like to reiterate again, that Nyanhub is not just a farm, or just a dex, or just a meme, but an ecosystem living and thriving within the Harmony space, and the repos will be product dependent. Project X, Nyandex, and all this other cool stuff we have planned on integrating will be using battle-tested contracts with slight modifications to suit the nature of the product’s design.

  • The funds are coming from the team’s personal savings, with the lion’s share being from Stefan, our funder and co-founder, we are in the process of bridging over assets in order to do that.
  • One of the main reasons for going with an arbinyan fork, rather than trying something new or not as tested is the fact that arbinyan had 1.5 billion USD of TVL at one point, and it did not suffer any exploits and as such is considered very secure. An audit from an independent third-party, at this stage, is not really necessary, as the Harmonyan farms will be done via the arbinyan staking contracts. I’d say that the audits really come into play once the multi-chain rollouts start. For example, xDai and BSC (which we plan on doing ASAP, literally days after the Harmonyan launch) yield farms allow for bridging custom tokens, whilst FTM, for example, does not. In order to be able to use Harmony-native tokens elsewhere, a bridging solution must exist.

With FTM, for example, this is a difficult thing to do, as the bridges we know of do not support custom tokens, and even if they did, the process is not as user-friendly as, for example, Horizon bridge is. Furthermore, bridging via third-party bridges may incur fees in either of the two directions, for example multichain.xyz does this (albeit it’s around 0.1%) when you want to bridge custom (given a partnership between them and the token issuer, as they are not permission-less as Horizon is) tokens from BSC back to ETH, but does not charge anything when doing ETH → BSC.

One of the solutions would be to do snapshots on Harmony, for holders of the Harmonyan token on Harmony mainnet to be able to get airdropped tokens on FTM. In order to prevent double-spending, we’d devise a mechanism where the users would burn the tokens (in exchange they’d get, for example, an HRC-721 token that shows they’ve participated in burning their Harmonyan tokens, for the purposes of essentially bridging them over to FTM, for example, ceteris paribus) This would also give us an insight, as you said, to the number of users (if the metric is how many addresses hold our token, rather than how many addresses interacted with our contracts, not sure what the specific criteria are), but also allow us for bridging where there is no bridge, or it is not possible to multihop through, for example Horizon (Harmony → BSC) → xpollinate (to polygon or some other chain), with custom tokens being bridged.

The importance of the audit comes into play here, as the mechanisms for compensating holders on Harmony, on other chains they wish to participate on, would be done via the mechanism described above.

xDAI and BSC launches are basically a given, due to infrastructure already existing.
Audits of vaults and other functionality we plan on implementing in Phases 2 and 3 of our whitepaper would be covered through the grant funds, and also in part from the dev wallet of the project.

We believe doing a fair launch like this, rather than a pre-sale/IDO is more fair to this community, even though, logistically, a pre-sale would be easier on us financially and in terms of risk we have to bear.

We are optimistic that, given current market conditions and the number of users interacting with us on Twitter, Telegram, Discord as well as comparing ourselves to other projects which have launched in the recent weeks, a TVL of 2-3 million USD on Harmonyan, a few days after launching, is more than possible. This would further be compounded once BSCnyan and xDAInyan launch, and exponentially grow once vaults and multi-chain farm optimizations are in play later on, as we plan to expand aggressively and rapidly, both in launches and marketing.

To put this into perspective, we’d answer as follows:

$10K after launching a feature-complete product on our testnet. We define feature complete to include an user interface, connection to a Harmony wallet on testnet, and can be used end-to-end by at least 100 test users. $10K after mainnet launch

We’ll be launching all products straight to main-net, due to the simplicity of the liquidity mining UI.

$10K after forming a DAO with its community

Snapshot integration will be done at the end of the initial liqudiity mining period which would be roughly around a week for the ONE solo staking pool.

$20K for after 10K users

Depending on how this metric is gauged, we’d say it’s possible to get to it by the end of this calendar year. We’re confident that we’d be able to do so, given how prolific other sidechains/altchains/L2s are, and how their users would be drawn to Harmony(an) as they are incentivized to hold the Harmony token and interact with the Harmony network in order to get the tokens necessary to use on other chains.

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Pointing out what was wrong with other project is not wrong. They literally forked every thing and called it a new project without even giving credit to the original work.

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Please do learn to differentiate between fact and FUD. What Nyan shared was factual information and I don’t see anything wrong with it. People are working hard to differentiate in this competitive environment and MIS literally stole other project without even making significant changes. If Nyan team is good enough to point out the other forked copycats, I think they do have a better project to deliver. From an investor perspective I see harmoNAYAN a better investment opportunity.

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This project shouldn’t get funding for now because it offers nothing new or essential to the blockchain. It is so weird that they have spent so much time trying to make this project seem interesting and hype it up by using fancy words just to describe a simple token farm and vaults. It’s like they are just trying to make their sentences longer to make the proposal seem good.

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The project is good as long as it legit and adds value to the ecosystem. The dev is doxxed and the token is based on memes and NFTs. Memes are trending and does have an impact on large number of users. I think have a project like this will bring in users from other ecosystem into harmony community.

The significance of having a meme based tokens /Dex on Harmony will bring in more user like Shiba Inu and Doge did. Shiba Inu (SHIB) adds more than 30,000 new holders in two weeks

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Unless they prove they can add sth original on the chain i disagree with the funding, we would have 1000s of new meme tokens demanding funding if we started handing out grants like this

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Forked tokens like Artemis Protocol has received funding. What do think about that ? Harmony Pad is doing better IMO.

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