Dear investors and community,
I am writing to you on our progress since our token listing on May 31st and the upcoming token unlock next week on Nov 30th — as well as a draft roadmap for the year 2020.
In the last six months, Harmony team worked nonstop to achieve these milestones:
Network and Validators
- Launched mainnet with 1000 nodes, cross-shard tx, view changes, open staking
- Effective Proof-of-Stake, codified token economics (3% issuance, 10% return)
- 3000 Pangaea community, 10 Pangaea Operation Captains, 80% external nodes
Business and Partners
- Quidd acquisition w/ Animoca, Lympo / Carbon / Hummingbot launch partners
- $683M 24h volume; Listing on Huobi, Bitmax, Kucoin, Gate; Coinbase shortlist
- Mainstage keynote, #crossfi research, developer network in Beijing/Bangalore
Team and Community
- 9 new Harmonauts (now 4 PhD’s, 8 ex-FAAG, 5 Harvard/ Stanford/ Berkeley)
- Radical transparency on all-hands, milestones review, market insight videos
- 35M tokens staked via social mining, 10 worldwide ambassadors
I captured our year-long journey as harmony.one/keynote (with an extended transcript and a mainstage video) and 13 letters since June. We collaborated with HashKey Capital and Wave Financial to produce a pioneering report harmony.one/crossfi on cross-border finance.
Our ambitious goals (and stretch goals marked by *; and open problems) for the next year are:
Cross-Border Utility (in total transaction fees collected)
- banking fiat gateway with china-yuan: india-rupee, vietnam-dong
- infra: stablecoins, forex quotes, p2p/otc pool, identity, *corporate accounting
- economics: staking, branded NFT assets, derivatives, *marketplaces
Decentralized Development (in numbers of validators, contributors, wallets)
- 100% external network, auto upgrade, *onchain governance
- external contributors, full transparency, async communication
- progressive deploy of foundation tokens / cash / bounties, broad social brand
- fraud proofs, zero-knowledge proofs, confidential assets, *capacity-specific keys
- one-click migration for EVM apps, libsnark integration & optimizations
- privacy-oriented UX & products: wallets, voting, *dao funding
By January I will be writing a long post on Harmony 2020 Plan with concrete metrics for the initiatives above. The team will publicly iterate on them like each of our individual’s harmony.one/goals and harmony.one/milestones for 2019 Q4.
Shortly we are reaching out to our seed investors for instructions on receiving the newly unlocked tokens.
Our public spreadsheet harmony.one/unlock has the full token release schedule: additional 706M tokens will be unlocked to seed investors. That is, 14.8% of the 4.77B circulating supply. For now we will be conservatively managing the new 554M protocol and 75M ecosystem tokens (as we have sufficient treasury assets). No team tokens are unlocked until after Jan 31st, 2020.
Come stake your Harmony ONE tokens! The expected annual return is 10% even when 35% of the total supply is staked (with 3% long-term issuance rate modeled with Delphi Digital). Our partners blockdaemon, stake.fish, staked.us, figment and honest mining will help in delegation.
We are exploring with Coinbase for investor custodial wallets. Open staking will be available in a few weeks with our custom bridge for our native tokens.
You may reach out to me via email@example.com anytime on our plan, unlock or staking.