Sesameseed — uniswap style decentralized exchange

Grantee Spotlight

Alex Yates

Published in

Harmony

4 min readAug 20, 2020

About Harmony $7M Grant

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What is Sesameseed?

Sesameseed is a blockchain community and a trusted digital asset staking organization that started with a grassroots call to action to the community in April 2018. Sesameseed has a unique rewards structure fueled by the SEED rewards token, which provides delegators better rewards over time compared to other staking options.

Tell us about the Sesameseed team

The core values of Sesameseed, honesty, transparency, and community representation have allowed it to stand out as a trusted voice for education and leadership in the blockchain space. These values attracted a dedicated community that provided unwavering support, without which Sesameseed the company would not be possible today.

Believers from the community became a core team, volunteering their broad range of skills to further the vision of the company. Spanning 10 countries and speaking 15 languages, the team is a representation of the diverse and worldwide Sesameseed community.

What is this Decentralized Exchange you are building and who it is for?

UniFi is a fast and secure DeFi protocol that enables non-custodial decentralized swap and many more novel features across multiple blockchains. UniFi will use the SEED bridge to connect the economy of Ethereum-based DeFi products to the growing DeFi markets on other blockchains. The UniFi protocol features incentivized liquidity pooling, a fee sharing governance token, a loyalty rewards token, loan platform, and cross-chain swap interoperability.

UniFi empowers developers, liquidity providers and token holders across multiple blockchains to put their crypto to work in a secure marketplace, earning interest on their holdings, and benefiting everyone.

Does this provide a better solution for liquidity? What are some of the most effective ways to solve for liquidity?

UniFi’s trading platform, uTrade, enables many unique opportunities for liquidity providers. For example, liquidity providers share in the fees generated by the entire protocol, not just by the one pair they are providing liquidity for. Through earning and then holding UP they earn a share of the fees for the pair they funded, and continue to earn even more as long as they hold UP. Even after liquidity providers withdraw their liquidity, as long as they continue to hold UP, they continue to share in fees. They earn a share of the fees for every trade, regardless of pairing, and continue to earn even more as long as they hold UP.

Another unique opportunity of using uTrade is that traders enjoy a portion of their trading fees refunded in SEED. As SEED holders, they now enjoy all the benefits of the SEED ecosystem. This is the only fee rebate that automatically stakes for increasing rewards.

There are many Layer 1 projects out there. Why partner with Harmony on this?

Sesameseed CEO, Juliun Brabon, mentioned in the latest Harmony AMA, “one of the most significant benefits of developing on Harmony is low transaction costs. There are a lot of things that can be done with smart contracts, but are usually not pursued because it would push the cost to a point where it is not reasonable to do within a single transaction for a user, for example. On Harmony, the cost doesn’t impact our ability to develop.”

The Harmony community is also a big motivator to build on Harmony as it aligns with our own vision of community engagement and representation.

If you weren’t in blockchain what would you be doing instead?

From the beginning, Sesameseed has proudly embraced its wild plant namesake and has found fun and memorable ways to keep the plant naming terminology alive. Many of its products and services are branded with names such as SEED, Sprout, and SEEDGerminator. Considering our fondness for all things plants, if we weren’t in blockchain, it is likely we would be farmers. With the introduction of UniFi, we will all now have the opportunity to farm — at least digitally.

What is something about Sesameseed that nobody knows?

One of the most frequently asked questions is where the name Sesameseed comes from. The truth is it has little to do with the resilient sub-Saharan crop, but instead is named after a reference made on the popular show, Silicon Valley. The main character in that scene is asked to inject cash into a startup to avoid shutting down. Instead of directly addressing the problem, he is consumed with a sudden curiosity about fast food, sesame seed buns, micro climates, and cicadas, eventually leading him to make a bold investment in sesame seed futures that promises a hefty return. The character’s process was circuitous but eventually solves the problem. Sesame seed became Sesameseed, and the rest is history.

Where can others find more information about Sesameseed?

To learn about Sesameseed, go to our website and join our community on Telegram.

Check out our one-pager.

You may also join our Twitter, Reddit, YouTube, and Medium to get the latest news.

Become ONE with Harmony

Developers can build on Harmony today, a fast and open blockchain for decentralized applications, suited to handle DeFi and cross-border finance. Harmony Mainnet supports state sharding with instant finality. Our staking mechanism reduces centralization while supporting delegation and slashing.

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