OpenSwap’s request to build Harmony’s all-in-$ONE platform

Funding Proposals Grants
1

Name of Project / Company
OpenSwap’s request to build Harmony’s All-in-$ONE platform

Application type
Products Launch

Proposal Overview
The concepts to financially operate and take advantage of the fiscal opportunities granted to banking institutions are available to a privileged few. Decentralized finance brings these hidden opportunities to the general public. The ability to store, borrow, lend, provide liquidity is now readily available at your fingertips.

OpenSwap aims to bring decentralized finance to the world in the form of a unique, elegant, and secure protocol. OpenSwap is a community-driven product on the Harmony Network that connects users with everything they need to for the future of web3, crypto, and decentralized finance.

Our goal is to build an All-in-$ONE platform for decentralized finance. Providing additional services to connect the world with simplified elegance to decentralized finance through security, opportunity, and education. This proposal will include the roadmap to allow OpenSwap to bring a multitude of DeFi products to the Harmony community.

Team:
OpenSwap

Proposal Ask:
Total for completion of all delivered projects = $200,000
Liquidity (funds to remain in pools indefinitely) = $300,000
Total = $500,000

Projects, Functionality and Metrics for Success:
Road Map Grant Request to build Harmony’s all-in-ONE platform. Success of each milestone will be measured with a mainnet launch.

  1. Launch a multi-chain swap aggregator. Create a single multi-chain platform to route token swaps in the most efficient means possible. Utilizing liquidity on existing decentralized exchanges, the site will analyze different routes, displays the most efficient, and allow the users to execute the trade. ($35,000)

  2. Fund the fees for the multi-chain swap aggregator for 1 year. The money will be used to ensure zero fees from OpenSwap are charged on the aggregator for 1 year to help encourage multi chain adoption on the Harmony network using the Amazon approach. Eventually, when fees are implemented, they will be the most competitive in the market and paid in $ONE so all other chains will require some $ONE to use it. ($15,000)

  3. Launch a liquidity aggregator that allow users to deposit liquidity in any of the aggregated projects through a single platform. ($15,000)

  4. Launch a new Harmony Dashboard that will have dark mode and be represented in $ONE and $USD this will be the prelude to auto compounding for all validators giving delegates the much anticipated 20-25% APY for delegation as a sustainable model in light of the loss of Terra LUNA. Harmony’s own native system to provide the much anticipated Decentralized Basic Income that our community deserves. ($15,000)

  5. Restructure pools to prepare for cross chain liquidity. There is a lot of risk to reducing to such a minimal number of pools in order to build back out to cross chain pools. This money will go to OpenSwap treasury in our multi sig wallet It will go to an OpenX/ONE pair to create plenty of liquidity and provide stability in $OpenX price as we go through this transition. These funds will remain in this pool indefinitely. ($150,000)

  6. Implement cross chain pools, this money will act as a base layer of liquidity for all layer 1s added. The funds will also go to treasury never to be removed and will be added to the first 5 cross chain pools, the proceeds from those pools will be used to create the 6th,7th,8th, etc. Allowing cross chain pools to grow on the Harmony network in an exponential fashion. ($150,000)

  7. Launch an auto-compounding feature to above mentioned Harmony Staking dashboard. This will allow delegates to choose multiple validators and multiple cross chain pools to auto compound into. A delegator will choose a validator and a pool the rewards from the validator will automatically be added LP pool of choosing, then as the fees are paid from LP pool it will automatically feed back to the validator in which it came. This will create a positive feedback loop where validator rewards feed cross chain liquidity for all other chains and us to hop from chain-to-chain with Harmony fast and inexpensive creating more transactions on chain which will help produce work for validators, LP providers and more rewards for delegators. A win-win-win for all in the Harmony ONE community. ($50,000)

  8. Launch an order book that will integrate with aggregator allowing traders to feel have a centralize exchange like experience but using decentralized liquidity. This will give us limit orders and be the prelude to functioning grid bots, futures, and options. ($25,000)

  9. Launch a farm aggregator that will find the best net rewards from aggregated decentralized exchanges and deploy capital. ($20,000)

  10. DAO Launchpad; please refer to other grant request as this will be the ability to have on chain voting systems where we can decide the direction of pool expansion together. OpenDAO

  11. Launch a NFT marketplace that is safe and secure so people can have confidence in transactions for the long haul. Giving artists and purchasers an on-chain experience that is secure, fair, and robust. We will also explore NFTs that serve functional purposes like ETFs where people can build investment strategies and sell them as a package unit IE the WaRu model. ($25,000)

External links
Video overview of roadmap items discussed in this proposal: OpenXswap's Road Map Updated and Explained - YouTube

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Thank you for submitting a proposal to Harmony’s $300M Ecosystem Fund. We are in the process of reviewing your proposal and assigned to @jbeltran on behalf of the Grants Ops team.

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.

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Great work @Lance let’s build strong and keep delivering for the Harmony community

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a lot of hard work on this team, here for the community since day one! Never heads down just building! Building innovative stuff that not also secures the Harmony ecosystem as it also flourishes them…
they have everything to be the face of Harmony has a Dex and DeFi multi product dapp

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I’m very excited for the future OpenSwap has ahead, I started crypto with Harmony One and remember when ViperSwap has the first and only Dex. I LP farmed there for a while but when OpenSwap started up, I moved all my investments over there as I don’t particularly like the idea of locked LP earnings and OpenSwap always had safety #1 in mind. Since then I haven’t moved my investments from there because I really like the tech Alex has to offer to the chain. I don’t trade too often but I’ve tried out the new Dex aggregator and it is pretty cool I can get the best price when I trade without having to go and check all the different exchanges. I am really looking forward to the DAO tooling though, I’ve met some people that wanted to start one but wasn’t really sure how, but I’m sure OpenSwap will make it an easy process.

Also another piece of tech Alex developed was an autocomponding validator so I can main-net stake my ones and then with some of the rewards I can invest in any OpenSwap LP farm too! I think that’s pretty cool!

Thank you for your time and I look forward to the bright future of $OpenX and $ONE❤️

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I certainly am in favour of supporting OpenSwap. Previously demonstrated a community first first outlook and has proof of being able to both stand the test of time irrespective of the token price action and continue to build through tough market conditions.

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This is a good team. A fun community, and I believe Alex is a incredible Dev, he is very innovative (aggregator, auto compound) and a grant for the team would be an asset to the Harmony ecosystem.

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Openswap is one of the strongest project on Harmony and devs are trying to give their best everyday working most of the time. Will love to see Openswap getting its grant approved :blue_heart: this is the most deserving project for it :blue_heart: #BeTheOne

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Long time Harmony One investor & supporter here. This is my first talk Harmony forum post. I’m here to say I fully believe in the Openswap team and they deserve the full investment amount they are requesting. I have been using Openswap for the past 8 months. Alex, Lance, & the team have been fully dedicated to building on Harmony One and have shown true integrity & ingenuity in their products & developments while supporting the harmonious vision of the core Harmony team. Thanks.

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I discovered openswap last year, and after trying multiple other dex’es I was impressed with the clean and easy to understand UI at openswap.
The more I read about the project, the more I wanted to support the it. Alex has really shown that he cares about security, and for me atleast, that ease of mind is key.
I was impressed with all the features they’ve managed to add in the time I’ve been using it, at the same time as being available to the community just to talk or answer questions.
I’ve been a strong believer in this project for quite a while now, and I absolutely think they deserve the grant.
I have no doubt the success of this project will do alot for Harmony in the long run.

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I support the vision to be the All-in-$ONE platform on Harmony :+1: :pray:

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Thank you guys for the kind words. We appreciate it very, very much :heart: :blue_heart:

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Good project, definitely deserves attention from core team and community.

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Looking forward to this!

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Openswap deserves this grant for many reasons. The team is talented yet cool, they don’t take themselves too seriously which makes it a pleasure to communicate with them.
They’re always open to help/ explain and really care to make defi a smooth ride for the community. And of course, their constant striving for implementing cool new features makes them a driving force in the Harmony world. It’s a no brainer!

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This is really great, well done people!

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Native Harmony projects with strong teams & proven track records should receive investments from Harmony. This investment to Openswap will greatly benefit Harmony One by accelerating Harmony One’s ecosystem growth and showing the community they are serious about pivoting away from pissing money away on DAOS by supporting a hard working native project focused on building. This is exactly the type of investment the community has been screaming for.

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Looks very interesting for Harmony community

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OpenSwap is not only the first dex aggregator on harmony, but also a dex with most beautiful UI. Guys possess unique vision and keep building so I fully support grant request and wish openswap team the best!

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OpenSwap, example of project with quality and value :blue_heart: :top:

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