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Harmony Invites Developers with $300 Million Treasury Fund

Posted by
Marc Ewing

Bounties, grants and opportunities awaits for developers to build bridges

Harmony is all about building bridges, and the blockchain ecosystem now invites developers for one of their biggest hackathons yet. The Harmony Ecosystem Fund supports developers that build, play, and talk with $300 million in funds.

The Harmony Ecosystem Fund is all about supporting developers to build and grow the Harmony ecosystem. In addition, the fund supports developers with their creative experiments, and platforms for sharing knowledge with the community. 

The $300 million in funding will be distributed to developers, DAOs, and as bounties over a period of time. During the first year, Harmony will distribute roughly $180 million, split between hackathons, porting products, partnerships, and so on. There’s a strong focus on establishing development DAOs, and creating an environment where every participating developer can earn for their efforts in the ecosystem. 

Themes and ideas

The Harmony Ecosystem Fund wants developers to create bridges and smooth interfaces, setting the Harmony blockchain up for mainstream adoption. To provide some structure, they have defined three different themes, each of those themes embraces four tracks.

  • Cross-Chain with Trustless Bridges
  • On-Chain with Wallet Security
  • Cross-Border with Fintech Integrations
    • gateways – fiat, credit cards, exchanges
    • corporate – accounting, privacy, payrolls
    • regional – over-counter services, retail shop loyalty, commerce logistics
    • impacts – social changes, mechanisms design, radical markets

These themes and tracks serve as guidelines to make a product fit within the ecosystem. 

What are the steps to take

The Harmony ecosystem is an inclusive community, as there are no prerequisites to be a part of it. The blockchain is permissionless, meaning that everybody can create and help to build the ecosystem. However, the Harmony Ecosystem Fund has created an easy onboarding system to attract developers with different levels of expertise in web3 development.

Depending on what developers have or want, there are different steps to take. For example, those who have a working product on Ethereum can look for investment opportunities to develop a version for Harmony. Dapps on xDAI or Polygon could be looking at support to create a port, while developers new to blockchain development could join a DAO, hackathon or bounty to learn more and develop at the same time. 

The fund has a limited amount allotted within each product category. For example, there’s $20 million allocated to support 500 product launches, and another $20 million to create ports. With 1000 bounties and support for 100 DAOs, there’s a lot of opportunity to start developing in the Harmony ecosystem. 

Developers can apply for a grant or support here, or learn more about the distribution of the $300 million Harmony Ecosystem Fund here. Harmony is all about building bridges between blockchains and projects, giving users and developers the opportunity to choose. 

What makes Harmony special 

Harmony is fully EVM compatible, making it very easy to move Ethereum dapps to their ecosystem. Dapps run on the blockchain with 2-second transaction finality, and fees that are 100 times lower. Users can smoothly move their assets using secure bridges from Harmony to other blockchains, for example, Ethereum and Binance Smart Chain. 

However, the blockchain’s interoperability goes a lot further than EVM compatibility. Harmony wants their solution to be interoperable with different Proof-of-Work and Proof-of-Stake blockchains. Firstly the FlyClient cross-chain solution supports Bitcoin, and it brings Wrapped BTC (wBTC) to Harmony. In addition, a bridge with Polkadot allows developers on Harmony to use Polkadot’s WebAssembly and para-chain tooling by extension.

Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.

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