Harmony $7M Grant: Cross-Border Finance & Zero-Knowledge Proofs

Stephen Tse
Jul 12, 2020 · 4 min read
Race Capital predicts coming decacorn $10B startups as fintech infrastructures & unbundling of banks. (Image Credit: Chris McCann)

Harmony Grants are to drive our platform’s mainnet utility 🔧, decentralized community 👩‍👩‍👧‍👦, and cryptographic innovations ⚡ — aligned with our 2021 roadmap on cross-border finance 💸 and auditable privacy 🛡️.

Harmony Foundation allocates 154.2M tokens per month for protocol and ecosystem development.

Your grant and project are fully transparent to everyone. Details of all grants such as application materials, funding amounts, community discussions, governor decisions and wallet addresses are publicly available at harmony.one/open-grants.

Grant applications and project materials are fully open at harmony.one/open-grants.

Grant approvals and governance are solely by members of Harmony Community 🎶, Harmony Angels 😇, elected validators ⛏️, Pangaea Captains ⚔ and Harmonauts 👩‍💻👩‍🚀 (engineering and business team) — see the full list here. The main acceptance criteria are active users with high 7-day retention, bringing assets 💎, transactions 🤝 and volume 🔊 to Harmony Mainnet.

For background, you may read our articles 🤔 Why #CrossFi (Harmony + BUSD video) and 🤯 Why #ZKProof (Scaling Cryptography video) — or our project overview 💭 Why Sharding & Staking (Privacy Summit video).

Explainer video on our cross-border finance #crossfi strategy, starting with Binance stablecoin BUSD, cross-chain bridges for US dollars, and fiat gateways.

Your grant is a 6-week engagement with 7 equal payments. After all 6 designated governors unanimously approve your weekly milestones (see Example Grant below), another installment is made before that Sunday 9pm PST. If you lapse on any milestones by 4 weeks, your grant and future payments are forfeited.

Ethereum 2 Roadmap, Buterin’s Open Problems and Findora’s Auditable Privacy are great models for bringing the best research results — via our $7M grants — to Harmony production mainnet.

Below explains the framework for our grant application and agreement:

Proposal.

Categories. Our strategic focus with examples of high priorities:

Project Details.

Governors. These stakeholders (see the full list) are to approve (and later do quadratic matching) on your grant and milestones:

Current Traction. Including:

Target Metrics. We measure the following metric targets per rolling 7-day period for fast iteration:

Target Deliverables. Grants will be 6-weeks with these typical milestones:

Profiles. Specify your license, Github, LinkedIn, Twitter, Telegram, email, and wallet for transparent tracking of grant payouts.

Use open source license, preferably: Apache License 2.0, MIT / BSD 3-clause or 2-clause license, GNU (Lesser) General Public License, Mozilla Public License 2.0.

Artifacts. Link your site, blog and code. Provide a docker image for setup or server launch. Follow our branding guidelines.

Milestones. Tweet out the weekly milestone and seek unanimous approvals from your 5 designated governors.

Funding. After each milestone, we will transfer an installment of grant payment with the link to the transaction.

Tax and Legal. For KYC/AML and accounting purposes, send to Harmony in private your driver license (or equivalent identification), phone number and home address. For calculating the amount of ONE tokens as payment in USD, Harmony uses the 24-hour volume-weighted average price using the Binance API (“weightedAvgPrice”) around the time of transfer.

https://harmony.one/grant-framework

We look forward to building a strong Harmony Ecosystem with you. To apply, you may fill the application form and email grants@harmony.one. Join our dedicated channels harmony.one/grant-forum or harmony.one/grant-telegram for any questions or feedback!

Stephen Tse
Harmony CEO

Harmony

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