Harmony (ONE) Up 120% Thanks to $ 300M Incentive Program

Community and protocol development initiatives have become the latest trend in the crypto marketplace after several million dollar projects launched to attract developers and investors.

The latest project to benefit from this trend is Harmony (ONE), a blockchain protocol that offers a final transaction time of 2 seconds and provides cross-chain bridges for several Layer 1 protocols, including Bitcoin, Ethereum, Polkadot and Binance Smart Chain.

Data from TradingView shows that ONE’s price has increased 120% since hitting $ 0.095 on August 31, to $ 0.21 on September 9, while its 24-hour trading volume rose to $ 717 million.

A price chart 4 hours frame | Source: TradingView

The ONE price rose after Harmony announced a new $ 300 million ecosystem fund set to attract 10,000 developers and creators to build on the protocol.

Today we’re increasing our $ 10,000 home builder ecosystem fund to 10,000 home builders.

the @harmonieprotokoll The ecosystem has grown exponentially and we want to fund 10,000 more crypto founders, builders and creatives.

Let’s shape the future together: https://t.co/6Yb9DoAa65

– harmony (@harmonieprotokoll) September 9, 2021

“We’re announcing a $ 300 million ecosystem fund to attract 10,000 developers. The Harmony ecosystem is growing exponentially and we want to continue funding 10,000 crypto founders, developers and promoters. Let’s shape the future together. “

In addition to funding, ONE also benefits from new partnerships and cross-chain integrations that have been established in recent months. The most recent development is a partnership with Anyswap that will bring a Bitcoin to Harmony Bridge notification on September 8th

New tactics

Crowdfunding, raised through logs last month, is a new tactic used to attract liquidity.

Avalanche was one of the projects at the forefront of this strategy when it announced the $ 180 million DeFi liquidity mining incentive program, Avalanche Rush, and then the AVAX 200% rally.

Additionally, Fantom (FTM) has also seen price increases of 300% after launching a 370 million FTM incentive program.

Other protocols that have recently launched similar initiatives include Terra with the launch of Project Dawn, which is providing $ 150 million to help improve the Terra and Algorand ecosystems Start up The $ 300 million Viridis DeFi Fund aims to maximize the growth of the DeFi ecosystem on Algorand.

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