Ecosystem Development Funds have become one of the latest market developments in the crypto space, and major treasury protocols have determined that incentive and incentive programs are one of the best ways to attract new users and protocols to a project.

One protocol where the value of the token has risen recently following the introduction of an ecosystem development grant is Harmony (ONE), a blockchain protocol that focuses on improving scalability between networks. It uses cross-shard contracts and cross-chain infrastructure between multiple blockchains, including Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), and Binance Smart Chain (BSC).

Data from TradingView shows that the ONE price has risen 263% from hitting a low of $ 0.095 on Aug. 30 to hit a new ATH of $ 0.345 on Oct.25, while trading volume is now over $ 800 million USD skyrocketed.

ONE / USDT. 4 hour chart | Source: TradingView

The three reasons for the rising price of ONE are the launch of a $ 300 million ecosystem development fund, the successful conclusion of the Harmony One World conference in Lisbon and the introduction of many well-known protocols in the Harmony network.

The Harmony Ecosystem Development Fund attracts new talent

Harmony’s announcement of a $ 300 million ecosystem development fund on September 9th appears to be the driving force behind the rally seen in ONE over the past two months.

The goal of the program is to “further fund 10,000 crypto founders, builders and creators” to strengthen and expand the Harmony ecosystem.

Recently, the project released a schedule for next year outlining a plan to spend $ 180 million between the fourth quarter of 2021 and the third quarter of 2022 to help fund 100 Decentralized Autonomous Organizations (DAO), 1,000 bounties, 10 partners, 100 grants, 500 starts, 50 investments to contribute, and 10 hackathons (programming contest events where computer programmers and others participate in software development).

Prove the Harmony Development Fund serious with its goals recently revealed after the Protocol recognized 10 new fellows during the “ONE World” conference in Lisbon.

“Team Harmony Protocol will be in Lisbon for more than a week. We awarded 10 scholarships this week. If you are building and are looking for funding, come to us. “

ONE World Conference attracts the attention of the community

Another reason ONE’s recent strength is that the ONE World conference taking place in Lisbon is helping to educate the public about the capabilities of the Harmony network and attracting new developers to feed into the ecosystem.

1 / The Harmony ONE World conference is finally here!

The meeting started with a full house (according to the minutes, of course) ????

The event celebrates the #Harmonycommunity and discussed how to build a better future for the community

Here is what happened! ???? pic.twitter.com/d47BoxGVkb

– harmony (@harmonieprotokoll) October 18, 2021

“The Harmony ONE World Conference is finally here!

Start with a crowded hall.

The event celebrated the Harmony community and discussed how to build a better future for the community. ”

The event took place on October 18 and coincided with the start of ONE’s bull run, which rose from $ 0.22 to a new ATH on October 25.

ONE World took place at the same time as LISCON 2021, an Ethereum-oriented conference that also took place in Lisbon and presented protocols that can work with Ethereum and other blockchains.

Protocol integration and token listing

The third reason ONE is dynamic is a number of partnerships, including integrations with DeFi platforms such as AAVE and Curve.

We have just started @harmonieprotokoll with something $ ONE Reward.https://t.co/n4Fu5C0lNm pic.twitter.com/ytu8sFkE1w

– Charlie Watkins (@charlie_eth) October 12, 2021

“We just started the Harmony protocol with some ONE rewards.”

The addition of two of the most widespread DeFi applications in the crypto ecosystem has increased the reach and user base of the Harmony blockchain, resulting in much lower transaction fees for users.

Other recent integrations include the introduction of the WePiggy credit protocol and listing of the ONE / USDC pair on Crypto.com.

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