Good afternoon.
Have you ever used the Harmony blockchain? If not, you are definitely doing yourself a disservice. Harmony is an Ethereum Virtual Machine compatible blockchain with 2 second transaction finality and Proof of Stake. Transactions cost less than a penny and assets can be bridge from Ethereum, Binance Smart Chain, or even Polygon. I have been using it for a couple years for various things like staking and yield farming. Let me just say... This is what Ethereum user experience should be like. Hopefully with Ethereum 2.0 coming out in the next couple years you'll be able to transact like this without being rich.
OpenSwap
OpenSwap is a decentralized exchange on Harmony that allows users to swap, provide liquidity, and yield farm. It supports assets bridged from Binance Smart Chain and Ethereum for trading and liquidity. I just recently played around with OpenSwap and MochiSwap, which I will do a post on later probably. OpenSwap definitely peaked my interest for a couple reasons. Number one is the yield farming pools.
So I wrote a post about yield farming on Harmony not too long ago here that shows you how to get started. As you can see there are quite a few farms active with more surely to come. One thing you will notice is the low liquidity. This can be both a good thing, and a bad thing. You can have a bigger share of the liquidity pool but there will be less fees because there is low trading volume so you have to pick one that makes the most sense to you.
Why yield farm on Harmony and not Binance Smart Chain or Ethereum?
The simple response is: gas fees. Gas fees on Ethereum will make your head hurt and gas fees on BSC are better, but still pretty steep. Harmony's feels are usually less than 0.001 ONE which is less than a penny. Transactions take less than 2 seconds, and the chain is gaining more and more users every day. There is a very strong community around Harmony and with more users comes more demand. With more demand, higher token prices. I'm not a financial advisor though so you decide. Do you want to kill your gains with fees?
Thanks for reading.
Peace.
Posted Using LeoFinance Beta
The first sponsored post I have seen worth reading in months
Good share, yield farming and cross chain interoperability are the next steps for all crypto.
Not sponsored at all. I just like sharing cool projects. Being sponsored would be cool though lol
So you did not use ecency points to promote your post?
Ooooh yeah I did. My bad, I thought you meant like sponsored by openswap.
No lol but all good, I was happy to see the first post that didn't make me stop using hive for the day in a few weeks. I usually see such low quality spam and purely desperate appeals for attention in the sponsored category, it's sickening and I usually flip past it as fast as possible so none of their click bait bullshit gets into my head.
Solid strategy. It's mostly garbage. I try to only. Post shit that's useful or interesting at least
I have never had a single post I felt was worth promoting, including a $180 post from the steem days, organic curation is something shit content producers will never understand, while marketing experts punk them to promote their garbage no one cares about.
Very good read. Enjoyed it a lot. Especially as I see a lot of potential and future in ONE, I hold a decent bag and will always be looking to get more. I feel it’s due a massive break out soon
I'm with you there
Heard about it and never looked into it. But your post mafe me want to investigate it a little further, that yield farming looks promising!
Yield farming is fun but it can be risky. Don't ape into shitcoin pools and you'll be fine lol
Oh no apeing for sure! 😁
Good luck! Lol
I think operating with harmony as you said is a very nice thing to do, ❤️
Not nice. Smart.
Hi, when i googled Openswap the first occurrence is another swap with .xyz extension i don't like it, you refer to .one i've found.
I just had a look, the bridge swap has an horrible rate, i'll look further in deep for the other possibilities.
There is very little liquidity on a lot of pairs right now so there is more slippage for sure. I'd only play with small amounts at the moment unless you don't care about slippage.