2 years ago
VenomDAO has been bringing liquidity to the Harmony ecosystem since its launch. It has continued connected this way with a fig of products that let users of the web to instrumentality vantage of its unsocial opportunities. It played an important relation successful ushering DeFi users into the Harmony ecosystem and its liquidity infrastructure is being applied crossed aggregate blockchains.
As the one-year day of the protocol draws close, VenomDAO has continued to supply a much-needed work to the Harmony community. From the motorboat of ViperSwap, the archetypal AMM/DEX offering incentives and populating output farming, to CobraSwap connected BSC, its archetypal multi-chain expansion, VenomDAO has solidified its spot arsenic a thought person connected Harmony. But what’s next?
VenomDAO Launches Comfy Money
Comfy Money is the latest successful a agelong enactment of products that person been released by VenomDAO. This caller merchandise features an algorithmic stablecoin that volition beryllium pegged to $ONE. It is simply a multi-token protocol which means that determination is much than 1 token operating connected the platform. Comfy Money features 3 tokens including $COMFY, $CSHARE, and $CBOND.
As for the underlying mechanisms, they volition systemically set $COMFY’s proviso to determination its terms successful accordance with that of $ONE, making it a unchangeable peg.
Comfy Money volition enactment arsenic an inducement for Harmony users to involvement much of their $ONE tokens to enactment arsenic validators to support and unafraid the blockchain. $COMFY which is simply a 1:1 peg volition past beryllium utilized and traded crossed each DeFi protocols connected the Harmony web without losing retired connected the appreciation of the $ONE token implicit time.
Comfy Money volition assistance VenomDAO successful continuing to physique liquidity infrastructure for a multi-chain world.
Building For The Future
VenomDAO’s suite of products, consisting of past, present, and aboriginal launches each physique into its ngo to bring liquidity to Harmony. The blockchain which is seeing DeFi enactment ramp up successful caller times has seen a fig of protocols launched. Each 1 of these needs liquidity and VenomDAO presents a mode for projects to bootstrap and ain their liquidity close from the precise commencement utilizing the Launchpad.
An upcoming wealth marketplace merchandise from VenomDAO is aimed astatine capturing further TVL (Total Value Locked) for the Harmony ecosystem. It volition supply deeper liquidity successful the ecosystem and bring further usage cases to the VIPER and WAGMI tokens. It volition besides spot the motorboat of a perpetual/leverage level that volition utilize ViperSwap and Money Market to bring leveraged trading and leveraged output farming to its users.
Existing products volition besides get a facelift this twelvemonth with a caller UI for ViperSwap, alongside a determination to veVIPER and decentralized allocation via gauges, gamification, and NFTs that unlock unsocial functionality. Furthermore, VenomDAO volition bring Protocol Owned Liquidity (PoL) with WAGMI getting caller bonds to alteration auto-staking/flexible vesting and WAGMI Pro with bonds arsenic a work for existing Harmony projects seeking their ain liquidity.
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