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Harmony HRC20 SEED

HRC20 SEED, Harmony Blockchain Smart Contract Hash (0x793DAC3Ec4969A5BEE684BcF4290d52feB8F51b4)

Sesameseed is pleased to introduce the SEED rewards token on the Harmony blockchain.

SEED is a rewards token issued on every blockchain where Sesameseed operates a SEED node. Following its partnership as preferred staking provider with Harmony, Sesameseed is proud to announce Harmony-SEED as the newest addition to the multi-chain SEED reward token economy. Harmony-SEED (also referred to as HRC20 SEED) has been created and deployed on the Harmony mainnet. Harmony-SEED is a smart contract based on the Ethereum Virtual Machine (EVM).

Harmony-SEED is one of the premiere tokens on Harmony, and the benchmark for SEED utilities on future blockchains. In keeping with Sesameseed’s values of transparency and accountability to the community, HRC20 provides the on-chain functionality for the utilities described in this article.

The easiest way to create a Harmony wallet and interact with HRC20 SEED is to use Harmony’s preferred wallet, Sprout. Sprout allows for seamless integration of Harmony ONE transactions, staking, interacting with smart contracts, Harmony tokens, and adjusting user preferences for individual Harmony shards.

Harmony-SEED has the following utilities:

Precision — HRC20 SEED is divisible down to 6 decimal places.

Mint — There is no pre-minted reserve of SEED tokens created on the Harmony Network. New SEED will be minted by the smart contract as they are required. This will most commonly be as part of the daily rewards process, or as a result of SEED tokens being swapped to Harmony from another blockchain. Minting SEED this way allows for transparency as the amount of SEED minted is viewable on-chain.

Burn — Burning SEED is the act of permanently removing a SEED from existence. This can occur when SEED is redeemed through Sprout, Sesameseed’s staking wallet and SEED utility, for the various blockchain node rewards that make up the redeem value. HRC20 SEED will also be burned when that SEED is swapped to another blockchain. The total amount of SEED burned is always viewable on chain.

Vote — HRC20 SEED will have a vote feature allowing SEED holders to participate in polls conducted via Sprout. This voting will happen within the HRC20 smart contract on the Harmony network. More information about this feature will be released in the future.

Adaptability — HRC20 SEED was created with the ability to adapt and incorporate utilities that will expand the future functionality of the token.

Like SEED on other blockchains, HRC20 Harmony-SEED also has these core utilities:

SwapHarmony-SEED can be swapped to any other Sesameseed represented blockchain using Sprout, Sesameseed’s staking wallet and SEED utility.

Automatic Staking — SEED automatically stakes for SEED nodes and earns maximum rewards on multiple blockchains, no matter which blockchain SEED is held on. SEED can be held in any wallet

Multi-chain staking rewards — SEED is designed to be the easiest way to earn the best staking rewards from multiple blockchains at once. SEED automatically earns daily rewards from every blockchain where Sesameseed operates a SEED node.

Daily Compounding — SEED earns more SEED daily as a result of automatic staking. This is another way holding SEED over time ensures the best staking rewards.

SEED rewards bonus(also known as participation power) SEED earns staking rewards at a higher rate than the amount of native coins in the redeem value.

Redeem Value — SEED can be redeemed for its multi-chain redemption value through Sprout, Sesameseed’s staking wallet and SEED utility. SEED’s redeem value increases over time, so the longer SEED is held, the higher its redeem value. Sprout allows for the creation of wallets on multiple chains as well as linking of existing wallets. This ensures SEED can be redeemed for its full multi-chain value on each blockchain.

SEED can be earned just by staking — SEED rewards tokens can be earned by staking to a Sesameseed SEED node on any blockchain.

Community Membership — Holding SEED is how Sesameseed identifies blockchain addresses as members of the Sesameseed community. This allows SEED holders to benefit exclusively from any additional rewards periodically distributed by Sesameseed.

Create a wallet on Harmony’s preferred wallet partner, Sprout. https://sprout.sesameseed.org

Learn more about Sesameseed on our website. Connect with us on Telegram, Twitter, Reddit, Facebook, Instagram, LinkedIn, YouTube, and Medium.

Connect with Sprout on Twitter.

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This account is operated by Sesameseed to write articles about multichain staking and SEED. Learn more on our blog: medium.com/SesameseedOrg