The Harmony One Token Sale Launches on Binance Launchpad
I’m not a big fan of lotteries, crypto bounties or community rewards for that matter, but Harmony One ($ONE) does have a great deal of potential.
That being said, if you agree, it’s time to allocate your $BNB tokens and claim your tickets! I cover news in crypto and blockchain, and I’m not getting paid for this post.
tl;dr Harmony is innovative.
Harmony implements deep sharding with innovations on both protocol and networking layers of blockchain by introducing:
- Highly scalable FBFT (Fast Byzantine Fault Tolerant) consensus using BLS (Boneh-Lynn-Shacham) multi-signatures.
- Secure distributed randomness generation protocol using VDF (Verifiable Delay Function).
- Sharding with adaptive Proof-of-Stake for strong network security.
- Kademlia routing and erasure encoding for optimal network performance.
While Harmony likes to boast a bit too much about their Silicon Valley pedigree I cannot blame them. They want to be disruptive and be viewed as credible. As far as blockchain startups go, I do consider them way more credible than most.
Where Harmony Is Likely Headed
Harmony’s business case is that it wants to helps businesses build marketplaces of fungible tokens for industry use cases such as energy credits and non-fungible assets (game collectibles, real estate).
Harmony applies zero-knowledge proofs for data sharing (ad exchanges, credit ratings) while preserving the consumer’s privacy.
Harmony is exploring how to create a basic income from consumer data powered by deep sharding.
I’m no engineer but Harmony is an infrastructural blockchain platform focusing on secure staking and re sharding with decentralized randomness, as well as optimal cross-shard routing and fast block propagation. Translation, they want to solve the scalability bottleneck for public blockchains.
So if I were to play favorites and do some PR, the point of this article is that:
On Thursday May 16th, 2019, Binance announced that the fifth crypto asset to go on sale this year on its initial exchange offering (IEO) platform, Binance Launchpad, would be the Harmony (ONE) token.
- It appears the Launchpad sale tokens comprise 12.5% of total supply.
- Harmony hopes that its fast and secure blockchain architecture will eventually be able to support billions of users in participating on decentralized marketplaces.
- The new Initial Exchange Offering (IEO) that is Harmony Protocol has some upside for crypto investors (do your own research).
- Sale will be conducted in May 2019 for a total raise of ~$5MM USD worth of BNB at ~$0.003175 per token for 12.5% of total token supply. BNB/ONE exchange rate will be determined prior to day of sale.
Due to accusations of manipulation and volatility in the price of Binance Coin (BNB) tokens, the company decided to use a new lottery scheme for users to invest in different IEOs on its Binance Launchpad platform. Well, fair enough.
Harmony is an open infrastructure that aims to scale blockchain to 10M transactions/second and 100-millisecond latency for 10B people in the future. Harmony builds a high-performance consensus platform that will enable decentralized economies for everyone.
It’s Silicon Valley’s latest attempt to improve upon public blockchains that are in a particular kind of limbo.
- The Harmony token sale will also follow a lottery format, with the recording of user BNB balances starting at 2019/05/19 23:59:59 (UTC).
- Harmony released its test net (2.0) last month, and it is planning to launch its main net in late Q2 or early Q3 2019.
So Harmony (ONE) will be issued on Binance Chain as a BEP2 asset.
Also key info is that Public Sale Token Price: 1 ONE = 0.003175 USD.
The Total Token Supply amounts to 12,600,000,000 ONE.
Harmony has an FAQ style doc that might help you get a quick summary too here.
22.4% of the 12.6 billion token supply was sold in Harmony’s seed round. Current investors include Blockchain Assets, Consensus Capital, Qtum, and Skunk Capital. It’s very interesting Qtum invested in them.
The actual Launchpad session starts on May 27 at 06:00 (UTC) and ends on May 29 at 08:00 (UTC) so far as I can tell. The Lottery format is uber confusing to me but won’t be to a seasoned crypto investor.
Cautiously, I expect Harmony’s ONE to have a top 50 ranking on coinmarketcap.com by the end of 2020. That’s my unofficial official prediction for this token.
What are your thoughts on the Harmony ONE token sale?