Launches: The first Index Protocol on Harmony Blockchain

Funding Proposals Grants
1

Name of Project / DAO / Company

Merged Finance

Application type

Product Launch

Proposal overview

Merged Finance is a multi-chain protocol that allows users to invest in crypto indexes in just a few clicks and get a diversified, rebalanced portfolio, designed by the industry experts.

Each portfolio is represented as a single token that is fully collateralized with various underlying assets: Utility, Governance, LP tokens, and Vaults. The protocol is equipped with the most advanced and demanded built-in DeFi tools allows users the more straightforward solution which brings higher returns on their investment.

Our mission is to make the investing experience productive, transparent, and accessible from any blockchain — a considerable number of integrated Blockchain Networks will grant users a variety of alternatives and allow them to access and acquire any token.

So far, there are no available indexes on Harmony blockchain and we would be honored to be the first Index protocol, who offers advanced structured investment products to the Harmony community. We strongly believe that indexes launched on Harmony’s fast and cost-effective blockchain show promise to be a big success and will definitely help to increase TVL on Harmony blockchain, make Harmony Defi ecosystem easily accessible to everyone and bring new users.

Currently, the team is focused on the development and putting the finishing touches on the MVP to realize the goal of releasing the Merged Finance platform at the beginning of Q1 2022.

Proposal ask

We are requesting a $50K contribution which should be split into portions and released by milestones:

Milestone Tranche
Launching a feature-complete product on testnet $10k
After forming a DAO for our community $10k
After launching Merged.fi on the mainnet $10k
After reaching 10k active users $20k

Metrics for success

  • 10k users
  • $1M indexes’ TVL on Harmony blockchain

Team Structure:

Turning to the question of who stands behind the idea of Merged Finance, we can state that the product is developed and built by the TruePNL team — creators of the fast-growing and booming TruePNL Launchpad, which grants their thousands of users an opportunity to get fair allocations in the most promising crypto projects it launches.

  1. Ruslan Abdulin - CEO.

Serial Tech Entrepreneur, 6 years of experience as a CEO in online-marketing, startups, and e-commerce businesses.

  1. Elena Martynova - COO

4 years of experience in managing IT and business development.

  1. Evgeniy Ivanov - CTO

12+ years of tech development, last 5 years on CTO/Tech lead positions. 6+ B2B developed projects from scratch to commercial production. A good man and AI enthusiast.

External links

https://twitter.com/MergedFinance

2

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

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.

If you have more details to add, please do so by replying to this thread.

3

Hi Elena,

Thanks again for your proposal. This proposal fits best to the Launch grant based on the guidelines at Apply for Grants or DAO

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 forming a DAO with 5-out-of-9 multisig with our DAOs,
$10K after launching on our mainnet with audit,
$10K after 1K daily active users (with launch video, full PR promotion),
$10K after 10k daily active users (with a detailed roadmap, governance process).

Moreover, we recommend a 5-out-9 multisig account on Gnosis Safe with 3 governors from the project team, 3 governors from the project community, and 3 governors from Harmony DAOs – namely, ONEcommunityDAO, ONEdeveloperDAO, ONEincubatorDAO.

In all cases, we ask for 3-month exclusive campaigns with Harmony before more porting with other chains. We also offer follow-on investments – see 50 Investments ($20M) above; but, at the moment, you must have an outside, lead investor for us to match the funding terms. All codes, development materials and production assets must be fully open, preferrably with MIT or BSD licences; weekly updates must on sent on forum; and, all server deploys or mobile apps must be easily clonable.

Can we agree to the above terms?

Thank you,
HU

4

Hey guys, this project sounds like a great idea. I am curious if you have any investment industry experts or financial people behind the project at the moment and if so who they are? Thanks

5

Hey @TPappArt thanks for your question!

Yes, we have an analysts team from TruePNL, which helps to review the project for the launchpad. After the launch, we plan to expand our department.

The protocol allows anyone to create their own indexes, so any third-party investors and traders can also create indexes products and share them with their audience.

4 Likes
6

Thank you for your answer. Makes sense :slight_smile: Good luck, I’ll keep an eye out for the progress!

1 Like
7

Hey @HarmonyUniverse

The contribution details sounds good for us. I just have a question about “3-month exclusive campaigns with Harmony” - our protocol is a multi-chain and we almost finished our MVP on bsc. Does it still meet requirement for Launch grant?

8

Hi Elena,

I understand that this is a multichain project and given its nature, it will be available on multiple platforms. I wanted to also further understand whether you would be actively promoting your project on Harmony protocol and engage with the community once it is built and available?

Thanks.

9

Sure, we are planning to work closely with Harmony and promote our protocol on the Harmony network. Additionally, we thought about special indexes for the Harmony community (as an idea: add incentives from Merged). That could engage the Harmony community as well as new users.

11

Thank you.

Approved for $50K Launch grant. Congratulations! Looking forward to seeing this built out with the first milestone for a Testnet Launch built on Harmony :tada:

“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.

Funds will be released upon completing these milestones

$10K after launching a feature-complete product on our testnet
$10K after forming a DAO with 5-out-of-9 multisig with our DAOs
$10K after launching on our mainnet with audit
$10K after 1K daily active users (with launch video, full PR promotion)
$10K after 10k daily active users (with a detailed roadmap, governance process)

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.

Please join the Harmony Grants Telegram channel and Harmony’s Discord server.

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

2 Likes
12

Thank you! We’ll keep the community updated :raised_hands:

1 Like
13

HI @Elena_MergedFi - Do you have the whitepaper/technical paper?

14

We will have to close topic given inactivity. Please reapply once project is ready given Grant and Investment Guidelines.

1 Like