Earn 20% APY staking Harmony $ONE with OpenSwap
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At OpenSwap, one of our largest goals is to accomplish the vision of Harmony’s founder Stephen Tse. We are working to provide Universal Basic income for the people of the world. Utilizing Harmony’s staking platform, we will bring 20% yields to single staking on Harmony, helping provide financial freedom for billions worldwide.
Historically on the Harmony Staking site, you will earn a return between 8% to 10% APR. so…
How do we accomplish 20% APY?
It all starts with the OpenX 20% Validator on the Harmony One staking site. Stake your $ONE tokens with the validator. When $ONE rewards are created, the rewards issued will be swapped for OpenX tokens at market price. The token swap occurs every 30 minutes; these tokens will then be sent to the corresponding wallet of the delegator. The OpenX tokens are converted and sent in a single tx to all the delegators based on their stake weight. Same way it would on a normal validator.
When you delegate ONE tokens to the OpenX Node 20% APY validator, you’ll earn 100% of your rewards in the form of OpenX Tokens. Out of the 100% fee shown on the Harmony Staking site, 95% is sent back as OpenX and 5% is kept as a constant fee for server maintenance and cost. This 5% maintenance fee is required by Harmony and the lowest maintenance fee we are allowed to set.
Bonus Rewards!!
There is a hidden farm on OpenSwap that automatically injects additional percentage into the rewards you receive to increase the APR percentage. This serves as a thank you for helping secure the Harmony network with OpenSwap. The bonus rewards are automatically sent to the address of the delegator.
Stake OpenX, moving to 20% APY returns and beyond
From here, stake your rewards in the OpenX/ONE LP on OpenSwap to increase your returns. Compounding rewards (collecting your rewards, creating LPs, and restaking them) will drastically increase the return percentage you receive. We recommend compounding weekly as it has the best return for the least amount of effort. Since OpenSwap operates on Harmony, no need to worry about transaction fees. Each transaction is a fraction of a penny. It is this compounding that results in greater APY% returns.
Impact the validator node has on OpenX
This validator node helps create automatic and constant buying pressure for the OpenSwap token. Conducting buys every 30 minutes, there will always be a constant influx of OpenX purchases.
Example of a Token Distribution Transaction
Here is a previous transaction of a token distribution: https://explorer.harmony.one/tx/0xd6e547a71581d5631c5ecf995cbad6a8ad38785308e6cecd8e71a825a742f03d
The transactions for the validator can be found by looking up your delegator address on the Harmony Explorer and going to the ‘HRC20 Transfers’ tab.
USER GUIDE:
Staking Harmony ONE with the OpenX Node 20% APY Validator with the Harmony browser wallet
STEP 1: Go to https://staking.harmony.one/ .
STEP 2: Click ‘Sign in’ in the lower right corner
STEP 3: Click ‘Use Existing Address’
STEP 4: Click ‘Use Harmony One Wallet’
STEP 5: Click ‘Sign In’
STEP 6: A popup will appear asking if you want to grant your wallet access to the staking site. Click on the wallet address and Click ‘Accept’
STEP 7: At this time, select the OpenX Node 20% APY validator
Step 8: Click ‘Delegate’
Step 9: Enter the amount of $ONE to stake
STEP 10: Click ‘Next’
STEP 11: Click ‘Confirm and Sign’
STEP 12: You will need to confirm that transaction in your wallet. Click ‘Approve’.
You have now staked your Harmony $ONE and are earning rewards.
Staking with the validator on OpenSwap.one:
STEP 1: Go to Openswap.one **Confirm your Harmony Browser wallet selected is connected to the site**
STEP 2: Click on ‘Farm’ in the menu
STEP 3: Click ‘Details’ on the validator of your choosing
STEP 4: Enter in the amount of $ONE to stake in the ‘Stake Amount’ area
STEP 5: Click ‘Stake’
STEP 6: A popup will appear from the Harmony Browser Wallet. Enter any security information required. Click ‘Approve’
STEP 7: Click ‘Confirm and Sign’
You have now staked your Harmony $ONE and are earning rewards.
*A recent upgrade grants the user with the ability to change the ratio of OpenX : ONE rewards. A user can choose to receive anywhere from 30%-100% in OpenX. You can access this control on OpenSwap.one. All rewards, OpenX and One, will be airdropped to the delegator address.
Choosing the percentage of OpenX rewards on OpenSwap:
STEP 1: Go to Openswap.one **Confirm your Harmony Browser wallet selected is connected to the site**
STEP 2: Click on ‘Farm’ in the menu
STEP 3: Click ‘Details’ on the validator of your choosing
STEP 4: Click on the ‘Set Ratio’ tab.
STEP 5: Enter the percentage of OpenX you would like to receive in the ‘Set Reward Ratio OpenX:One’. For example, you would enter ‘50’ if you would like to receive 50% of the rewards in OpenX tokens and 50% in ONE tokens
STEP 6: Slick ‘Set’
STEP 7: A popup will appear from the Harmony Browser Wallet. Enter any security information required. Click ‘Approve’
STEP 8: Click ‘Confirm and Sign’
You have set the percentage of rewards you will receive in OpenX and ONE.
Adding OpenX to your wallet
STEP 1: Enter your Harmony Wallet
STEP 2: Click on ‘HRC20’
STEP 3: In the ‘Token Contract Address’ enter in the OpenX address (0x01A4b054110d57069c1658AFBC46730529A3E326).
STEP 4: Click ‘Add Custom Token’ button.
If you are new to Harmony, check out this article. It will walk you through creating a Harmony wallet and transferring $ONE tokens from a cex.
OpenSwap (app.openswap.one) is a fast and secure non-custodial decentralized exchange that serves as a one-stop-shop to buy, trade, and earn crypto whether you’re from the Harmony, Ethereum, or Binance Smart Chain networks. OpenSwap allows Harmony users to seamlessly trade peer to peer without the tokens ever leaving the original wallet and through liquidity supplied by other users of the platform. With OpenSwap, users can:
- Exchange Tokens/Coins
- Provide Liquidity to Pools
- Earn Rewards by Staking in Lucrative Incentivized Liquidity Pools
- View ‘Personal Farming Profile’ detailing your rewards including Total Stake Value, Average APR %, Total Current Rewards, and Total Current Rewards in USD
- Simplified Bridge for Tokens/Coins to and from the Harmony, Ethereum, and Binance Smart Chain Network
- Collect Fees on Provided Liquidity Without Staking
- Vote on Governance Decisions, Including Adding New Tokens
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