In this Q3 and Q4, our team will have dedicated focuses to deliver more traction. Our overarching focus will be to reduce operational costs, deliver high-impact results, and build innovative improvements to the blockchain and our ecosystem.
That said, recent events have brought difficult times for everyone in the Web3 space. Many projects are building their plans to weather the storm and Harmony is no exception.
We have a number of exciting launches lined up in Q3 and Q4 but, to get there, we must make a handful of tradeoffs in certain areas. During this time, Harmony will focus on high-impact deliverables while a) on boarding great projects and b) executing on our next-level technical milestones.
Our efforts to reduce our operational costs include:
- DAO Funding, Operations, and Infrastructure
Harmony will pause new DAO funding. In addition, contributors behind our DAO Operations team will be moved into other teams / guilds and their deliverables will be adjusted to match their new focus. Existing DAOs can expect for the Harmony team to establish communication within the next couple weeks to discuss a path forward.
Harmony will freeze event sponsorships. The Event Operations team will re-prioritize their time and spread their efforts across high-impact deliverables. Event attendance will be considered on a case-by-case basis and spending will be strategic.
- Inbound Grants
New inbound grant applications will be paused. Outbound grants will continue for high-impact, strategic partnerships. The Grant Operations team will continue working with and communicating with existing grantees. Their time will slowly be split into other areas with more impactful deliverables.
Note that while funding may be halted in certain areas, Harmony will continue to offer support for DAOs and our community of users and developers. Co-marketing with ecosystem teams, AMAs with core DAOs, and keeping open lines of communication are some ways the Harmony team will show and provide support for those a part of our ecosystem.
These changes will be in effect starting today while the team continues to reduce our operating expenses. We aim to continue producing high-impact deliverables such as strategic partnerships, the trustless Ethereum bridge, elastic RPC infrastructure, and cross-shard messaging.
The team plans to revisit our spending on events, new inbound grant proposals, and DAO infrastructure in the near future. While we understand this will disappoint some, we all hope you find this helpful in knowing that Harmony is exercising careful due diligence with our expenses.
The best times are ahead of us, and we look forward to the exciting launches coming in Q3 and Q4 of this year.
To our community of users and developers:
Our decision to pause grant funding was made with great hesitation but a strong need to treat our resources with prudence. Supporting our ecosystem is important and we wish to do everything in our power to help our developers succeed on Harmony.
We understand the concerns that have been expressed and have worked to create a way to continue supporting our developers. That said, starting July 1st, 2022, Harmony will resume milestone payouts for existing, approved grantees.
As a reminder, below is a list of guidelines that existing approved grantees must meet:
Payouts are for existing, approved grantees. New grant applications will remain on hold and we will not be accepting any new applications.
Completed milestones must meet the highest standards. Harmony will review deliverables to ensure quality and impact. For example, it is not sufficient to simply deploy contracts to testnet as a completed milestone. Applications on testnet must be feature complete and usable.
Source codes must be open source and repos publicly accessible.
Payment will only be made in ONE tokens and to a Harmony Gnosis multisig wallet with 5 of 9 signatories.
We require a 6-month exclusive campaign with Harmony — we can work with you to plan out time windows to work across chains.
[New] Given our need to focus resources and urgency in building traction, we will review and pay out up to 180 days after the initial date of approval on the forum. Milestones submitted after 180 days will no longer qualify for payouts.
In addition to the list above, we will continue with our new co-marketing pipeline and help our community of developers amplify their products on Harmony. We sincerely hope you find this helpful and our Grant Ops team can help answer questions from our developer community over our existing channels.
– The Harmony Team