Hermes DeFi is proud to report on their progress over the past month since officially signing the $305,000 investment agreement in early March with Harmony.
Metrics
The team has increased to 16 members. New members include: 2 full stack developers, a solidity developer, a frontend developer, a community manager and a lawyer.
IRIS Market Cap: $690,000
PLTS Market Cap: $640,000 (>50% staked on our website)
WONE Bank Value: $1,025,000 deposited (effectively $2.6M in HRMS/ONE liquidity and $2.16 HRMS launch price)
Monthly Website Users: 2,300
Monthly RPC Requests: 1,400,000,000 across 88 countries
Socials: Discord (3420, +32% MoM), Twitter (12,013 Followers, 144,000 Impressions), Reddit (456 Members, 12,836 pageviews in March)
Development
Over the past month, we have shipped a total of 13 solidity contracts to Certik for review (audit due April 29th for the first set). This includes the entire suite of AMM contracts (factory, router, HRMS token), novel DeFi primitives (xHRMS, sHRMS, hONE, and a customizable Bonding mechanism), and DEX utilities (Liquidity Migrator). We also developed, tested, and deployed a new WONE bank contract that acts as a launchpad for HRMS/ONE liquidity. This contract has been extremely successful and contains 7,830,000 ONE. Half of this will be swapped for HRMS upon liquidity addition and paired with the remaining ONE, leading to a current total launch liquidity of over 2.6M dollars.
Additionally, we have spent a huge amount of time developing our completely new frontend and customized analytics pages. Core functionality is present on the testnet and we are aiming to launch a fully functional public test application in 1-2 weeks. This includes advanced technology such as serverless functions, edge-hosted pages, and a self-hosted Graph API coupled to a local sharded LevelDB RPC for near instantaneous blockchain synchronization.
Community Growth
In addition to technical development, Hermes has maintained the pace of its social growth through giveaways, partnership meetings, AMAs, and expansion of the Hermes DeFi Wiki. We have opened new collaborations with other Harmony Projects including: Cerebral Gaming DAO, Moon Robots, and Harmoforce. Our community wiki has grown to 38 articles, 7 languages, and 170 registered users.Like the Harmony ZKU educational classes, Hermes’ Wiki strives to achieve a similar goal to bring education to our community by encouraging our members to bring their personal knowledge to the table for teaching their peers, including some fantastic AI generated instructional videos.
We look forward to our expected DEX launch around May 7-10th! Keep your eyes peeled for our testnet DEX, and enjoy some teasers while you wait.
