Top 4 Harmony Ecosystem Tokens to Watch in July 2022
A blockchain platform called Harmony is intended to serve as a link between scalability and interoperability. Processing speed and block validation are its main concerns. It currently focuses on random state sharding and can be used to build decentralized apps (DApps). Thereby making the creation of blocks possible in a matter of seconds.
What Makes Harmony Ecosystem Unique
For Tron and Binance chain, their gas fees are relatively low. However, they are still high compared to Harmony ONE, which charges a $0.0001 fee.
You can run Ethereum applications on Harmony ONE. It offers Layer 2 features, where you can also build scalable Ethereum applications on it.
Harmony’s interoperability frees users from being locked on a single platform. The future of web3 is a multi-chain ecosystem, and Harmony’s bridges can connect any Proof-of-Work and Proof-of-Stake chains.
Harmony ONE has one thing that TRON AND BNB Chains don’t have, and that’s ZERO KNOWLEDGE PROOFS. ZK PROOFS are an integral part of Layer 2 solutions.
Today’s Article covers The Top 4 Harmony ECOSYSTEM Tokens To Watch In July 2022.
Note: The list below is ordered by the market capitalization of each project, lowest to highest.
#4 DSLA Protocol (DSLA)
- Market Cap – $3,382,783
- Price – $0.000621
Using self-executing service level agreements, bonus-malus insurance policies, and crowdsourced liquidity pools, the DSLA Protocol is a risk management framework that enables infrastructure operators and developers to lower the exposure of their users to service delays, interruptions, and financial losses.
The primary use case for the DSLA Protocol is to compensate Proof-of-Stake delegators and DeFi customers for their financial losses while rewarding staking pool operators and DeFi service providers for their connectivity, performance, and availability.
Accounting to the website, DSLA’s approach to integrated risk management enables the downside-protected delivery of goods, services, and digital assets without intermediaries.
It operates on six blockchain networks, including Ethereum, Polygon, Harmony, Avalanche, Fantom, and Binance.
$DSLA has a 24-hour trading volume of $524,965 with a circulating supply of 5,455,589,072 DSLA coins and a max. supply of 5,831,304,407 DSLA coins. You can trade DSLA Protocol on MEXC, KuCoin, Gate.io, Hoo, and PancakeSwap (V2).
#3 Rupiah Token (IDRT)
- Market Cap – $14,381,417
- Price – $0.0000668
Rupiah Token (IDRT) is the first Ethereum-based Token (ERC-20) whose price is intended to mimic the value of the Indonesian Rupiah.
As an Ethereum-based ERC-20 token, IDRT gains access to the Ethereum Blockchain’s efficiency, security, transparency, and other desirable features. IDRT is issued by PT Rupiah Token Indonesia, an Indonesian-based startup.
IDRT makes use of the well-known security and openness of significant public Blockchains. CertiK has conducted an audit of the IDRT Smart Contract.
Thanks to the power of Blockchain, users may transfer IDRT to anyone, anytime, and anywhere within minutes. Inherent compatibility with numerous exchanges, wallets, and other fascinating DeFi projects (such as blockchain-based financing, etc.) presently being developed internationally is made possible by releasing IDRT on top of Ethereum.
$IDRT has a 24-hour trading volume of $184,655 with a circulating supply of 215,347,997,094 IDRT coins. Rupiah Token $IDRT is Trading currently on Uniswap (V2), and SushiSwap.
#2 SushiSwap (SUSHI)
- Market Cap – $130,419,571
- Price – $1.02
An example of an automated market maker (AMM) is SushiSwap (SUSHI). AMMs are decentralized exchanges that employ smart contracts to generate markets for any given pair of tokens. They are a tool that cryptocurrency users use more frequently.
In addition to diversifying the AMM market, SushiSwap adds new features not seen on Uniswap, like boosted benefits for network users via its proprietary token, SUSHI.
Its primary target market consists of DeFi traders and related businesses hoping to benefit from the growth in project tokens and increase liquidity.
AMMs completely do away with order books while avoiding concerns like liquidity that plague traditional decentralized exchanges.
By enhancing consumers’ influence on its operations and future, SushiSwap seeks to improve its offerings for its parent, Uniswap.
The SUSHI token provides a portion of the platform’s 0.3 percent cut to users in exchange for using its liquidity pools. Users of SUSHI are also granted governance rights.
$SUSHI has a 24-hour trading volume of $62,056,108 with a circulating supply of 127,244,443 SUSHI coins and a max supply of 250,000,000 SUSHI coins. SushiSwap $SUSHI is currently trading on Binance, OKX, Bitget, BTCEX, and Bybit.
#1 Harmony (ONE)
- Market Cap – $212,631,310
- Price – $0.01727
Harmony’s blockchain platform is intended to make it easier to develop and use decentralized applications (DApps). By concentrating on random state sharding, which enables the creation of blocks in a few seconds, the network seeks to reinvent the way decentralized applications operate.
On the project website, Harmony is an open and fast blockchain. The mainnet runs Ethereum applications with 2-second transaction finality and 100 times lower fees.
The Harmony mainnet seeks to reinvent block creation by emphasizing processing speed and validity. The company drastically decreased node validation times by implementing the sharding method.
The Verifiable Random Function (VRF) for impartial and unpredictable shard membership was established by Harmony to assure the protection of nodes and the security of the validation process. This indicates that validators and nodes are randomly assigned and reassigned.
$ONE has a 24-hour trading volume of $20,002,804 with a circulating supply of 12,292,601,114 ONE coins. Harmony $ONE is currently trading on Binance, OKX, Bybit, MEXC, and AAX.
Final Thoughts
Harmony describes itself as an open and fast blockchain. The mainnet runs Ethereum applications with 2-second transaction finality and gas fees 100 orders of magnitudes smaller.
Its ecosystem continues to grow and expand with new Web3, NFT, Metaverse, and DeFi applications joining every month. The Blockchain’s interoperability is leading the race in cryptocurrency and frees users from being locked into a single platform.
Harmony is a must-watch in July 2022 as its native cryptocurrency, $ONE, could show significant bullish momentum once the tide of the markets turns.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any Harmony ecosystem crypto coins.
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