Community update for the week of Feb 26th, 2022
Each week we will recap the latest news and provide an update for the community.
This week we review:
⋄ Project Development Update
⋄ Farming reward simulation tool
⋄ Utility Page sneak preview
⋄ Farming Pools update
⋄ Latest YouTube videos
⋄ Top Farm APRs
⋄ OpenX Burn Report
Project Development Update:
⋄ Coding and development has begun on the user interface for the DAO.
⋄ A utility page has been in development
⋄ Finalizing UI work
⋄ Testing / QA is needed prior to go live
⋄ Additional details below
⋄ Planning for the version of our validator update
Farming Reward Simulation Tool
OpenSwap added a nice little feature to provide more information on your assets. It provides the projected increase in $ daily, weekly, monthly and yearly and a graph of future total.
To view this information: Go to the farm page, click in the details of a staked LP farm and click ‘simulation’.
Utility Page “Sneak Preview”
A page providing OpenSwap users with different utilities will be coming to life soon. Test and quality assurance is still needed before we can roll out the utility page. The utility page is planned to have these features to start: Harmony network creation for MetaMask, Contract Revoker, Rewards Calculator, and a Rewards Counter. Several of these features were requests from our community.
Farming Pool Update
For the last few weeks, the OpenSwap team has been conducting an analysis of the our current farming pools. We will be announcing some changes to the pools available and adding new pools in the very near future.
Latest YouTube videos
OpenSwap and Harmony update from ETHDEN
@_Watcherone_ was able to catch up with @ArtXXone live from ETH DEN to discuss OpenSwap and some of the exciting the Harmony One happenings this past week.
Video tutorial on OpenSwap’s ONE Click Bridge
OpenSwap bridge is a upgraded user interface for Harmony’s Horizon Bridge. It allows transfer between Harmony and Binance Smart Chain or the Ethereum Networks. This video provides a tutorial on how to use the bridge.
Always use a Ledger and practice safe DEX
There is no such thing as being too safe in crypto. OpenSwap highly recommends hardware wallets to protect your DeFi assets. Here is a video tutorial on connecting a Ledger to Harmony, MetaMask, and OpenSwap
What makes Harmony Different?
What makes Harmony One so special? It’s the community. The true spirit of DeFi lives in Harmony. This whole community is 2nd to none and we are glad to be apart of it. Conversation about the importance of Harmony community with pictures from ETHDEN
Top Farms based on APR% on 2/26/2022
⋄ 66% OpenX / ONE
⋄ 63% OpenX / BNB
⋄ 63% OpenX / MATIC
⋄ 59% OpenX / ADA
⋄ 54% OpenX / BUSD
OpenX token burn update on 2/26/2022
Total burned since inception:
⋄ 1,506,222 OpenX burned (↑ 11,572 last 7 days)
⋄ $71,997 burned @ market price
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