Harmony (ONE) Trading and Single-Sided Staking is Live on Bancor
ONE (ERC20) trading and single-sided staking is now live on Bancor! Bancor is a decentralized exchange designed to mitigate impermanent loss and offer single-sided (ONE-only) exposure.
That means as ONE token holder, you can now:
- Instantly swap ONE in the Bancor Network (for ETH, WBTC, USDC, DAI & more) — as ONE liquidity grows, ONE swaps get cheaper in price.
- As a liquidity provider, deposit your ONE tokens in Bancor and maintain full price exposure to ONE and protection from impermanent loss, a risk that can cause users to lose money in other AMMs. Bancor fully protects ONE holders from this kind of value loss and is designed to maximize LP earnings in ONE tokens and offer a safe and simple way for users to get paid for supporting deep liquidity in the ONE token.
Thank you to the Bancor community for voting to whitelist ONE with 150,000 BNT co-investment, we really appreciate the support!
You may now stake in the ONE pool on Bancor to earn trading fees in ONE with single-sided exposure and no impermanent loss.
Read the guide below to learn how easy it is for ONE holders to earn interest on their ONE.
ONE holders no longer need to decide between HODLing and LPing, now they are able to maintain their long exposure while earning more ONE from trading fees. Users can also buy ONE on app.bancor.network. This way, trading fees go to fellow ONE tokens holders who are staking in the pool.
Single-sided staking:
First, go to the single-sided staking pool of ONE on Bancor: https://app.bancor.network/eth/portfolio/stake/add/single/0xbCfAC270Bc25259284D510047FC27bc96584F881
Choose the amount of ONEs to stake and protect, approve the transaction and then you are done.
Once you’ve staked your ONEs, you will see them in your portfolio and you can manage it here. The impermanent loss protection you have accrued. Impermanent loss protection starts 30 days after your deposit, at a rate of 30% and gradually increases 1% per day until you reach 100% protection.
Trading:
To start trading ONE on Bancor, use this direct link for the ONE/BNT trading pair.
Enter the amount you want to swap for and that’s it.
For reference, the ONE token (ERC-20) address is: 0xD5cd84D6f044AbE314Ee7E414d37cae8773ef9D3
P.S. You will need to stake the ERC-20 version of ONE on Bancor. This will require using MetaMask, not the ONE wallet.
We want to thank the Bancor community and we look forward to working with them on growing our partnership!
About Bancor
The Bancor Protocol is a fully on-chain liquidity protocol that can be implemented on any smart contract-enabled blockchain. The Bancor Protocol is an open-source standard for liquidity pools, which in turn provide an endpoint for automated market-making (buying / selling tokens) against a smart contract.
- Bancor Network currently operates on the Ethereum and EOS blockchains, but the protocol is designed to be interoperable for additional blockchains.
- Their implementation can be easily integrated into any application enabling value exchange and liquidity provision.
- Their implementation is open source and permissionless, and ecosystem participants are encouraged to contribute to and enhance the Bancor Protocol.
About Harmony
Build on Harmony, run on all chains.
Harmony is your open platform for assets, collectibles, identity, governance. Be the ONE to bridge to all blockchains.
Harmony is an open and fast blockchain. Our mainnet runs Ethereum applications with 2-second transaction finality and 100 times lower fees. Harmony’s secure bridges offer cross-chain asset transfers with Ethereum, Binance and other chains. https://www.harmony.one/
We ❤️ Developers.
Got an idea? Build it on Harmony and Apply for a Grant.
Telegram | Twitter | Discord | Youtube | Medium | Facebook | LinkedIn | Reddit | Instagram
