Hermes DeFi is raising capital to bring a trader-focused DEX and innovative DeFi primitives to the Harmony blockchain. We are a powerful, community-driven platform that will offer the best swap fees and the most returns to LP providers on Harmony. We will offer advanced charting features, trade report histories, tax report generation, portfolio tracking, and more to advanced DeFi users. We are seeking to raise $440,000 to support the expansion and solidification of payments to our team. In exchange, we are offering an equivalent amount of our HRMS token (30M total supply) after a 15% market discount ($0.3896/HRMS) of our launch price of $0.4583.
Hermes Defi is a global team of experienced DeFi enthusiasts that have spent the last 8 months building products together. First deployed on Polygon, we have become a multichain project with the addition of our native Harmony farm, Plutus. We envision a future of DeFi for all, and our core values of multiculturalism, social responsibility, freedom of expression, and empowerment are only matched by our commitment to safety, transparency, and speed. We are working together to bring Harmony to the forefront of DeFi through our creation of The Hermes Protocol, an all-encompassing ecosystem of DeFi applications centered around a modified TraderJoeV2 Uniswap DEX/AMM.
We aim to bring DeFi to all through our #LearnToEarn new user onboarding system. A large part of this is powered by our community led wiki (https://wiki.hermesdefi.io/). Through this and close relationships with many of Harmony’s DAOs, we are bringing a whole new userbase to DeFi. This is already evident in our social growth and performance-- with over 2,800 active users in our 3 Month old Discord server, and over 460,000 impressions on our Twitter (top 3 influential dApp on Harmony 3 weeks running). According to Dapp radar, our on-chain users increased by 37.2% over the past month, the only DeFi project on Harmony that gained during this period.
Our project success and overall tokenomic design speaks for itself. Our farming reward token PLTS (and pre-sale for HRMS) has performed remarkably well despite the rocky market conditions of the last month.
We will continue to build self-sustaining DeFi systems (no reward lockups) that bring value through partnership and growth of the overall Harmony ecosystem. We will also offer the best returns to LP providers on Harmony, returning 85% of swap fees back to those who are providing liquidity.
Hermes is bringing multiple exciting DeFi concepts together into the same ecosystem. This includes our very first DeFi primitive, Hermes Staked ONE. This fully-trustless smart contract system was only recently (2/11/2022) enabled by a hardfork in the Harmony blockchain (v. It allows for users to directly interact with validators and requires no involvement from our developers to manage. Competing systems are not trustless, have fees associated with their use, and do not reward liquidity providers well. We plan to use this system to unlock the 46.1% of ONE (~$824M) currently staked with validators for use within DeFi environments. Our long term goals include collateralization in markets like Anchor, integration of hONE on CRV, and expansion of this primitive to other chains. More research into primitives like Certificates of Deposits and returns on Protocol Owned Liquidity are ongoing.
Hermes is also bringing a new concept to play, AlgoFi. The next generation of yield aggregation services, we will enable a dedicated team of DeFi experts to identify and implement trustless yield-generation strategies. We hope with this, along with our education efforts, lower the barrier for entry for sustainable investment strategies. Furthermore, our AlgoFi team will work hand-in-hand with our experienced front-end and database engineers to construct the best portfolio management and trading experience possible on our website. Our platform will have both a basic/advanced and day/night trading view to appeal to both sides of the experience spectrum.
We look forward to hearing from any private investors or institutional liquidity providers interested in our platform. Please review our Pitch Deck, explore our website, and connect with us on Twitter, Discord, Telegram, or via email.
$440,400 in exchange for an equivalent value of $HRMS tokens with a 15% discount to initial market price ($0.3896/HRMS). Split between $290,400 in team salaries and $150,000 as an additional initial liquidity allocation.
IRIS MC - $827,000, PLTS MC - $987,000, Current post-money valuation of $2.1M.