Hello. I think that with your answer, you are justifying Harmony too much right now. I think that after reading the complaints from participants in the ecosystem, what the main positions of Harmony should do is apologize. We all know that we are in a difficult situation for the entire Crypto ecosystem, but this does not justify their lack of “sincere, real and fast communication” towards projects that have been worked hard by different people around the world. In any case, I think that this situation is not at all favorable to the development of Harmony and that, perhaps, the correct decisions must be made in times of economic prosperity and not reach this ugly situation in which Harmony finds itself in these moments. I have been following their trajectory since January, and perhaps they should have invested the money in productive marketing actions and not in so many “image actions” at parties. It is simply an opinion of a citizen concerned about the development of the crypto ecosystem. Thank you very much and may this bad financial situation pass soon.
Sounds like someone didn’t do his 2018 homework. No finance/investment managers in the team?
The Harmony Foundation should restructure its ecosystem funding, not cut it after token price and ecosystem TVL went -90%. There are so many talents in the space that are becoming free agents after the market crash. Why not bring them to the Harmony ecosystem.
Are the grant commitments considered (bad) debt? Because if I am the CFO, I would cut everything, literally every single funding that doesn’t have to be paid, but hey this is crypto, it’s kinda grey area. I think.
And yes, I realise there would be a lot of (sometimes justified) tears and screaming. At the very least you could expect clear, concise communication from a figure like proper CFO.
I very much agree with you @shestov that Harmony needs restructuring, probably not only ecosystem funding but internal organisation as well. I have been on Harmony since before DFK, in recent months I happened to learn a bit deeper how Harmony Foundation operates and I believe there are at least few areas where Harmony can and should (maybe has to) improve as start up. One comment that stood out to me and still rings a bell: I happened to join one of the Twitter Spaces where Harmony team member defended state of ecosystem funding by saying something along the lines “we only approved $4mil of grants”. I thought to myself at that time already this really doesn’t seem like rainbows, quite opposite.
In any case, I truly wish Harmony can go through this, being part of the project that is very much embedded, one of oldest protocols on network, and in general, I want it to succeed.
I most certainly agree with this!!! They been bleeding this one dry for a while now…with very little value creation from DAO’s…I get it…why ppl might be upset…but it just had to be done…This is a business…not some little fairytale “YOU GET HARMONY, YOU GET HARMONY” BUILD THE SHIT IF YOU WANT TO BUILD IT…
Whatever is owed be paid out and keep it moving. Onwards and upwards…I promise you building wont stop on harmony bc you your little projects aren’t being funded…not to sound like a D but most of what has been built is complete trash…copy pasta junk. I am so glad they are cutting funding…try keeping a fire lit with hundred dollar bills…that will last long.
With Inbound grants being paused I think the community can get back to the basics of grass-root, community supported funding initiatives.
Staking precompiles don’t get a lot of attention and if you don’t know what they are it’s the mechanism that allows you to delegate, undelegate and collect rewards using MetaMask. This unique tech advancement opened the door for non-custodial liquid staking derivatives(stONE) and general staking functionality using most wallets.
Currently Harmony pumps out 441 million ONE per year in block rewards. At the current bear market price it comes out to about $11m US/yr, I propose as a community we strive to put 10% of our staking rewards back into community development.
I propose this through non-custodial smart contracts that utilize the staking precompiles to mint sponsorship NFTs. The ONE locked up in minting is then staked and rewards are streamed to the sponsored project. Burn the NFT to claim back the initial ONE.
No more getting rugged or scammed for it all. If the project doesn’t produce pull the plug on its funding.
Below find a website I put together describing KickStaker.one , please provide some feedback. Actual tech powering this proposal is in proof of concept on testnet with more info to come. Everything works so far.
I really like the idea of cutting back on expenses and the treasury management in order to be able to sustain a bear market.These are amazing news.
I understand peoples complains about the lack of communication in funding requests, but why is this relevant to this post?
Why does everyone keep mentioning binance?
Their funding is made by fees on their exchange, harmony is not an exchange so funding source is not even close to similar.
@okostiss just suggesting a community led funding initiative to pick up the lack of new inbound grant funding from the foundation. Also trying to devise a way to support projects through a stream funding mechanism that gives projects minimum viable funding while reducing risk of loss of investor principal in ONE to Zero.
Binance earns not only on commissions. This crypto exchange earns on many other things (investments in projects like Harmony, listings, NFT, etc.), so unlike Harmony, Binance grows both in a falling market and in a market that goes up.
Please tell me how Harmony plans to attract new loyal users to the project without regional DAO funding?
It seems to me that you don’t need users for Harmony. Of course, you successfully built up twitter followers (402328 followers and 150-300 reactions under each post) and telegram (40137 participants, 2896 online at the moment). But investors are not interested in that right now.
Considering unstable work of Harmony blockchain network and constant complaints of users about delays connected with withdrawal of ONE coin from cryptocurrency exchangers (it is connected with unstable work of Harmony blockchain network), the only merit of the project for many months was the idea of creating 10000 DAO on Harmony. And now this program is suspended.
Don’t forget that there are a lot of projects like Harmony right now, and a lot of competition in the blockchain market. Where will you get new talent to develop your project?
Come On Harmony
the only merit of the project for many months was the idea of creating 10000 DAO on Harmony
Are you serious? It went downhill from there. All that money wasted in MacBook for 24y dance teachers, golden rings with a failed presidential candidate and free travel to Sunny and her friends could have been used to fix the network and get a working explorer. You know, that blockchain stuff.
@Point7C. tell me the merits of the Harmony project for 2021-2022 other than the DAO program. I’m interested to read your answer. Or do you only know isolated cases of theft like one person buying a MacBook? Are you jealous? All I see in your posts is criticism. What have you personally done for the development of Harmony besides selling your NFTs?
This is true. Why even have a blockchain project if you not gonna have benefits like giving your coin to the DAOs? I am sure @Point7C must be jealous he didn’t receive free money, it’s the only motivation to post on forum. He doesn’t even have a cause, like women, peace, lives matter or animals. And he had done nothing to make it.
Can you stop being so negative? I am sure you are making the dance teachers uncomfortable, she probably can’t even enjoy her MacBook because of you. If you understand the people on the spectrum X you will know how difficult it is.
@Point7C seems like an unhinged Caucasian male taking it out on a 2- time Brazilian project X winner. Who cares if she dropped out of college to only purchase macbook pro laptops and Apple Ipads afterwards.
Even if she wanted to buy a brand new Apple Iphone that is her decision to make with all that free money from Boris.
Get back to selling those NFTs @Point7C.
Jealousy is the root of a evil!
I run my business (actually 2) so I don’t need to beg money on the internet with crappy ideas, and I’m free to reply to you whenever I want. Trust me, it’s priceless…
What I liked from Harmony during 2021-2022 was related to tech, so big applications like Aave (you know how it is now), the Bitcoin Bridge (don’t let me start about it) and much more that was promised but poorly executed. How is the explorer now? Yeah…
Personally, I’ve promoted Harmony on my personal crypto blog (you can find the article here, but it’s in Italian). Back in the days (the article is from 2019, it was updated in 2021) it used to rank pretty well on Google (I work in SEO) and got good traffic (and referrals to Binance) from Italian users looking for info about the project. I like to think it’s at least something!
Good luck with your grant!
I want to clarify that my profile description is ironic and I never sold or I’am selling any NFT. But I fully understand why you think that a sewage company should launch a NFT on Harmony.
This is coming from someone who has my own personal issues with Harmony for context, which I’m yet to see resolved, However…
I think right now, although people can find a lot to complain about, you have to ask yourself with the majority of the comments over the past week you can see on posts and social media, is this constructive? is it going to help?
I’m sure if the people leaving these comments that we have seen recently on various posts and channels were in charge of decision making then everything would be perfect and we’d all be sitting on beaches rather than in our rooms trying to school Harmony staff over the internet…
If people really cared, they would be getting organized with other community members, making lists of current issues, and suggesting fixes to present to Harmony which I have seen a few times in the past by dedicated community members.
As mentioned, I have my own issues, but when it comes down to it, I believe in Harmony, I believe in the team and I still believe in what they’re trying to achieve. And whether I see mistakes, or see things I would have done differently, I will be here. Ask yourself where you stand when Harmony could do with your support more than ever.
The amount of negativity and complete lack of positivity is ridiculous, but then again, we always see this amount of negative energy when prices take a knock… It’s funny though, we don’t see it half as much when the price is on the upside, where do they all hide?
P.s if you want to try and school me for being positive, save it, please. All I’m trying to get at right now is, try and channel your energy into something positive. If Harmony has your support then they can move mountains. If you’re holding bags, try to make a positive impact, if you’re leaving, leave. All of this BS is just going to slow them down, and no chain can risk that right now. You can either continue being negative and truly kill it, or try to help.
Either way, I wish you all the best of luck. LFG