OneDAO, the 1st #decentralized reserve currency platform on Harmony

Name of Project / DAO / Company

[OneDao Finance]

Application type

[DAO Formation, Algorithmic]

Proposal overview

[The 1st #decentralized reserve currency platform on Harmony, with a unique change - increase rebase time to 2 hours (instead of 8 hours of OHM and all other forks)]

Team

[OneDAO Team]

Proposal ask

[$50,000 in ONE]

Justification

[$50,000 (product launch). We already deploy and reach $1,632,157 TVL. We would like to use this launch grant to convert $OHM $TIME $KLIMA $GYRO to Harmony]

Metrics for success

[Our ambition to reach a billion TVL soon]

External links

[https://onedao.finance]

1 Like

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

We are now in the process of reviewing your proposal. The Harmony community is also encouraged to participate to ask questions and provide feedbacks.

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

1 Like

Can’t argue with a 6.5 billion % APY. :thinking:

Hi @lij , will OneDAO receive the Launches Fund? We want to bring more users froom $TIME $OHM $SPELL $GZIL $KLIMA to Harmony

Hi @lij and @Jacksteroo , our project reaches more investor join in. it grows every day with outstanding numbers. Can your team support us? And your support package will help us go further, reaching more investors to join your ecosystem.

Seems like we don’t have any support from Harmony Team?!..

For OHM forks, it’s not TVL that matters, it’s the Treasury Balance. We really like how you’ve grown the community and the TBal (doubled to $800K now).

Has the underlying fork been audited yet? And how can we help?

2 Likes

i was seen treasury balance and read your doc, i didnt see about treasury multisig, are you plan to implement a multisig in future? or i miss about that?

The treasury contract is a simple vault implementation holding all the funds collected by the protocol. If for instance a user purchases a DAI bond, the bonded DAI is fully taken in by the treasury in return of the market equivalent of OHM bonded for. New OHM will be minted based on the RFV of the treasury assets.

It’s already means so :confused:

Hi @Jacksteroo , I’m interested in this project moving forward and wanted to provide additional information that may be helpful.

Some updates that I have noticed as a OneDian and Harmony Community Member:

  1. OneDAO treasury just hit $2M within 3 weeks of its formation.
  2. Discord community has organically grown to almost 2k within the same time frame.
  3. Devs appear to be involved and have improved website interface for users on a regular basis.
  4. Docs are being updated with more information and guides to help users navigate the interface, learn more about the protocol and provide transparency. (Disclaimer: I work on improving the docs with graphics, updated information and collaborate directly with the team to have changes approved).

Additionally, I wanted to see what the eligibility criteria is to receive funding from the available Ecosystem Fund. Could you share the eligibility criteria to receive funding?

Lastly, what steps do you recommend that OneDAO take to increase its chances to receive funding.

Looking forward to hearing from you.

2 Likes

@kenzjdang has the project been audited or any plans to do so?

@eviltechwolf @kenzjdang we’d like to move forward with this project. Since this is an already launched project, we do grant for retroactively launched initiatives with the following ask

For any project, a DAO ensures community participation, product sustainability, and open governance. 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

For projects already live on Harmony Mainnet, Harmony’s Launch Grant can boost tractions with $50K retroactive funding: $10K forming a DAO like above, then four additional $10K grants each to double the key user metrics.

Key user metrics here refers to Treasury Balance here. We strongly suggest to have the DAO formed as soon as possible and an audit on the smart contract to help with gaining trust with the community.

Will you be able to agree to these terms?

  • DAO Form = $10K
  • $5M TBal = $10K
  • $10M TBal = $10K
  • $20M TBal = $10K
  • $40M TBal = $10K