MonoX Builds on Harmony
MonoX is thrilled to announce an exciting collaboration with Harmony, a flourishing Layer 1 blockchain. MonoX is proud to announce that we have received a generous Grant from the Harmony team which will help fund the integration of onto the Harmony blockchain!
MonoX is building towards a future where developers and users seamlessly navigate across multiple chains. In 2021 DeFi has rapidly expanded across multiple blockchains, sidechains, and aspiring Ethereum layer 2 (L2) scaling solutions. Value creation from DeFi on more chains is important for the sustained growth of the industry and we are excited to be part of this maturation of the DeFi industry.
Harmony Grants: Ports
We have been selected for the Port Track.
You can check out our accepted proposal here:
About Harmony Port Grants:
Recipients of each grant for porting must have achieved product-market fit. Harmony helps scale these thriving projects via porting to our Mainnet. We recommend $50–250K each over 4–8 weeks, on projects already with active 10K users, and engaging their teams in public forums. Prime areas of market growth are Play-to-Earn games, musician fan clubs, investment DAOs, portfolio dashboards, and event and collectible curators.
About Harmony
Harmony has solved many of the ongoing problems that plague Ethereum projects and users. Thanks to their technical aptitude and an increase in partnerships, Harmony has grown its TVL to an all-time high of over $500m.
Harmony uses a popular mechanism called sharding to solve scalability issues by increasing transaction throughput and decreasing transaction costs. Nodes on the network and the Harmony blockchain itself are partitioned, enabling linear scaling of hardware, transactions, and storage. Additionally, Harmony has innovated on the battle-tested Practical Byzantine Fault Tolerance (PBFT) for fast consensus of block transactions. Their Fast BFT (FBFT) leads to low transaction fees and 1-block-time finality in Harmony Mainnet. Harmony is EVM compatible, users are able to bridge assets to mainnet and interact with Dapps using familiar web3 wallets like Metamask.
MonoX on Harmony
MonoX will be highly compatible with the core functionality of Harmony. We provide a solution to traditional AMMs that require high capital expenditure to bootstrap a liquidity pair. Thanks to our single-sided liquidity, projects can focus on using funds for building the project instead of providing liquidity. Our aim will be to help Harmony scale their flourishing DeFi ecosystem by facilitating token launches for projects that require zero extra collateral needed for building a liquidity par.
We are very excited about the collaboration and can’t wait to join the Ecosystem.
About MonoX
MonoX introduces the premier bootstrap decentralized exchange, Monoswap. Project owners can list their tokens without the burden of capital requirements and focus on using funds for building the project instead of providing liquidity.
It works by grouping deposited tokens into a virtual pair with our own vCASH, to offer a single token pool design.
MonoX will revolutionize the DeFi ecosystem by fixing the capital inefficiencies of current protocol models. With lower trading fees, capital efficiency, and zero-capital token launching — MonoX will expand the capabilities of DeFi.
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