We do need a project like this. People will have many options too develop their assets and also hodl $ONE token too. I am 100% love Reverse Protocol 2.0. It’s a dark horse and hid gem that will be explode in several months ahead. Buckle up people! Get ready for the reverse 
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Really hope Reverse will receive these.
In my opinion he would have a lot to teach the current NaaS who are looking for sustainability without involving the community. I support your goal and am excited about the idea of a community owned treasury
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Love the purpose. Hope you’ll reach this goal!
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I had won 500 rvrs some time ago, now with staking is around 650.
This gave me the opportunity to get UST from airdrops, which I swapped back to rvrs and staked.
More treasury from grants and other strategic investments give an income to stakers.
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Looking forward to investing in this project. Very promising.
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Thank you for putting our beloved Reverse Protocol in front of the Grant Ops team! I truly believe RVRS will be a top project on Harmony. Because we have investments on so many different chains, this will be one of the best opportunities for users to diversify their portfolio and continue to generate passive income.
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Checked docs, posts, and i’ll put a more elaborate reply other than ‘‘good project’’
honestly, RVRS good project.
That aside.
THIS does bring NEW capital into harmony, and allows a community to function as a whale collectively, increasing capital efficiency.
So, i believe this project does have a future.
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That’s exactly it, right? Since we started issuing airdrops from treasury yield we’ve brought significant profit into the Harmony ecosystem from other chains already.
This is only going to keep stacking up! As we build out partnerships across other chains we will be bringing new investors to the Harmony ecosystem as well.
We all thrive together!
Thanks for checking us out!
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The progress that RVRS has made after such a rough start has been amazing. They could have easily folded and would have been forgotten as just another failed DeFi 2.0 clone. They held fast, doubled down, and reached out to the community to help craft what I believe is one the best damn projects around. Everything that Harmony values is RIGHT HERE. DAO-like community engagement. Cross-chain action. Just a friggin overall positive attitude with RESULTS ON PAPER in the form of UST every Monday. It works. I’m a part of it. It’s awesome. I’m out. (mic drop)
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We’re unable to move forward with this Launch grant request based on the guidelines at Apply for Grants or DAO.
Unfortunately, your proposal does not demonstrate enough differentiation from other Olympus derived protocols.
Thank you for choosing Harmony.
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What the f… Any time I think the level of insanity here cannot go any further, Harmony continues with the surprises.
I don’t have much stock in Reverse particularly but I know for a fact, that they are legit. And they have actually functioning DAO. And they are NOT Ohm (literally their smart contracts have not been forked).
It’s well written proposal, protocol literally stands behind all the values that Harmony supports (on face value at least). And the justification… Not enough differentiation… (there’s nothing in the guidelines that says something to the tune of it plus Reverse actually IS different).
@cheualx are you for real? You guys will fund vitacoin, or some other scam aren’t you?
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I agree! its not hard at all to just check the docs and see that its NOT another useless ohm fork, its farming as a service through real sustainable DAO mechanics, no woke bs.
OHM:ponzi aiming to be a reserve currency
RVRS: treasury managed through governance meant to earn CASHFLOW for stakers paid in UST.
how tf are these 2 ‘‘too similar’’?
Here, this is taken from their docs. OHM vs. Reverse - Reverse Protocol
Hi Cheualx,
Thank you for getting back to us and thank you for the feedback.
It may have been unclear from our proposal, but we have very little in common with Olympus DAO or any of the Olympus forks other than being a treasury protocol. We view our protocol as a Farming as a Service (FAAS) protocol – however we are also significantly different from any other Farming as a Service protocol in that all of our strategies are derived from community governance.
We currently have no Olympus derived contracts whatsoever – all of our current contracts are on our GitHub. reverse-contracts/contracts at main · ReverseProtocol/reverse-contracts · GitHub .
We have recently developed our fully custom and audited veRVRS contract and are looking to deploy this shortly. https://github.com/FoxTheFarmer/reverse-contracts/blob/main/contracts/veRVRS.sol
This introduces a system that rewards long term stakers with additional governance powers and rewards them for long-term staking. The full mechanics of this are discussed here: Diamond hands through veRVRS. Introduction | by Reverse Protocol | Mar, 2022 | Medium
We are not a rebase token and our long-term value creation is through deploying our treasury rather than inflation of our token supply. We are the only operating treasury protocol (as far as I am aware) that is actively deploying their treasury to create sustainable stable coin distributions. We have already distributed $500,000 of UST to RVRS stakers. There is no other treasury protocol doing this, which we believe is a distinguishing feature for Reverse Protocol.
In most Olympus inspired protocols, the only way to profit is to sell the rebase rewards and this forms the core premise of these protocols. We break this mould by distributing treasury earnings to RVRS holders instead. We discuss this in great depth in this medium article:
Reverse Reinvents Rewarding Stakers | by Reverse Protocol | Medium
We do not believe that there are any other FaaS protocols currently on Harmony and we believe this is also major distinguishing feature for Reverse Protocol.
We will respect your decision at the end of the day, however we strongly ask you to reconsider – given the significant differences between our protocol and Olympus.
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Hold your horses @Sbae … addressing one thing at the time here.
Yes, @cheualx is for reals. He’s a new addition to the Ecosystem Ops team.
Secondly, the committee voted against this. We’re not always right, but we took a really long look at Reverse Protocol and the documentation was highly similar. Maybe it was a mistake to make it look too similar.
Let’s do this. Continue to build and interact with the Harmony DeFi community. Once we get some more data about how Reverse performs based on the team’s hypotheses, please send the new data set over and we can reconsider a new form of partnership. This is a really difficult algorithmic problem to solve, and I do hope that we get to solve this and come out stronger on the other side.
RVRS 1.0 has been interesting to say the least.
Cryptina, we love you for what you do and spoke to your close teammate, and we trust you’ll do great work. Same goes with Ignacio and we met your team too, we’re big fans. Some of us probably met Limi, Cman and Trigs too. Thank you for considering taking on this project. We hope to come out on the other side better and stronger. I’ve a feeling you’re going to prove our decision wrong, and do forgive us for not understanding this sooner.
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Fwiw, I also believe Reverse is a protocol that seems like great candidate to receive this grant. It’s a bit baffling why it’s been denied so this is a message in support of it.
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dont forget sunny getting her stuff (that only drains the ecosystem fund) approved after she buys her own useless NFTs
repeat it with me… that…got…APPROVED.
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Quite embarrassing this denial of grant when compared to others already accepted
Provided motivation show a lack of documentation understanding (Olympus derived protocols? Really?)
Perhaps talking to the team before rejecting their request would have helped you to better understand the uniqueness of the protoccolol.
Something in your evaluation process really doesn’t work.
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Could you point us to the areas of the documentation that gave you the impression the project has similarities to Ohm? We would definitely like to fix any errors in how the project is being presented to the public. It would be confusing for me to understand how any kind of in-depth research would draw similarities between Reverse and Ohm, so you can imagine how this is a big priority for me regardless of the status of this grant.
I also wanted to make sure that it was clear that this project isn’t a hypothesis. It’s live, and fully functioning. We’ve already paid out over 500k in UST from profits generated from other Harmony projects, as well as off-chain projects. RVRS is currently bringing TVL from other networks and distributing it to loyal community members. If you did not gather this from your in-depth research I would be happy to provide any additional data to demonstrate the current functionality and viability of the protocol.
Thanks for your time and feedback! We look forward to making improvements so that we can better serve the Harmony Community that has supported us this far!
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@Jacksteroo with all due respect, I didn’t mean to “attack” member of harmony team, this wasn’t a personal message. None of my messages are (so far) directed at particular members, it’s directed at harmony team as a whole.
The problem is, that Harmony, the grants team specifically but it applies to general direction where it’s going, seem to be completely disconnected from community. I am just a single investor, I speak only for myself here but I have spent long time around and my frustration echoes many others with just common sense. Something is really afoot and very very wrong.
It’s unbelievably frustrating, annoying I’d say, seeing how you approve the most questionable grants applicants all the while passing on legit projects that do provide value for the people on this chain. It does not make any sense (or maybe it does, if any applies nefarious logic to the process). This will blow up.
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