Harmony x OIN: ONE-backed stablecoin to be released soon!
Our partnership with Harmony was announced back in April with the promise of bringing DeFi to Harmony via our stablecoins. That promise is now here, with a confirmed launch date!
Harmony is a decentralized blockchain platform hosted on Ethereum designed to fill in the gap between scalability and decentralization efforts. It offers fast and instant transactions through the use of random state sharding.
With the aim to become a key player across all chains, Harmony partnered with OIN to make their vision a reality as OIN offers a turnkey stablecoin issuance platform.
The Stablecoin
Called the oneUSD, the on-chain Harmony stablecoin will be collateralized through the ONE token. Through the OINDAO, users will be able to deposit their ONE tokens and mint the oneUSD up to 160% collateralization rate, providing users a great way to leverage and transact, all the while allowing them to hold onto their beloved ONE assets!
The Partnership
Along with Harmony, OINDAO services will be integrated to introduce stablecoin denominated by ONE which allows users to connect with other ecosystems and other blockchain initiatives. OINDAO will support users and investors of ONE ecosystem to hedge against volatility, promote adoption by fresh use cases and of course, repay our community by providing yield farming opportunities to different projects, giving them the opportunity to earn more rewards.
As always, we will continue the search for use cases that will accompany the stablecoin, and provide an instant leveraging and yield farming opportunity to start.
To commemorate this partnership, we have an incoming exciting NFT Airdrop event for the community, so stay tuned for more!
We have some great announcements coming up specifically focusing on the community, so stay tuned!
ABOUT OIN FINANCE
OIN is a decentralized stablecoin issuance platform. With a robust set of features such as single-vault liquidations and own-brand-labelled stablecoins, we bring the best stablecoin solutions for all, including our Layer-1 and Layer-2 partners.
For all the recent updates and progress, connect with OIN Finance and become a part of our community at:
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About Harmony
Harmony is an open and fast blockchain. Our mainnet runs Ethereum applications with 2-second transaction finality and 100 times lower fees. Our secure bridges offer cross-chain transfers with Ethereum, Binance and 3 other chains.
Build on Harmony, bridge to all chains. We are an open platform for your assets, collectibles, identity and governance. Come harmony.one/apply!
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