The Harmony Foundation aims for transparency to our community. The goal of this report is to keep the community informed of how the Foundation is using its resources to build the Harmony ecosystem.
The Q1 2021 transparency report is our first report and will cover the Foundation’s activity up to Dec 31, 2020. Our block explorer is available to anyone to review token transactions on Harmony.
Our token unlock schedule is fully transparent and public at harmony.one/unlock. This unlock schedule encompasses all 12.6 billion genesis ONE tokens and describes the monthly schedule whereby tokens are released for use on Seed and IEO Sales, Protocol Development, Ecosystem Development and Team.
Our 3 Foundation Wallets are list below for public tracking:
The Harmony Foundation had allocated 2,822,400,000 for its seed sale. All of these tokens have been distributed to investors as of November 30, 2020. The 1,575,000,000 tokens allocated for the initial exchange offering (non-US investors) were distributed at the time of the IEO in May 2019. Furthermore, the Foundation has allocated 2,132,424,000 for team tokens, of which 710,808,000 ONEs or 33.3% have been distributed to the Harmony team as of December 31, 2020.
Per the harmony.one/unlock table, the amount of locked tokens as of Dec 31, 2021 is 3,845,133,000 and is being held in our foundation wallet: one1v8slq3ajf7kmhrskrrupp7dewvnqnmmdlfezfu
As of December 31, 2020, 1,431,075,000 Ecosystem Tokens and 2,215,584,000 Protocol Tokens have been unlocked for a total of 3,646,659,000 tokens. Of these unlocked tokens, the Harmony Foundation has spent 3,057,866,710 tokens, or about 84% of the tokens.
The remaining unlocked 588,792,290 ecosystem and protocol tokens are managed by the Harmony Foundation in both the cold wallets listed here and in exchange accounts.
The Foundation has been using the Ecosystem and Protocol tokens for these purposes:
- 24.1% on Foundational Nodes. These tokens were sold to early foundational node operators to secure the network and launch open staking. The 65+ foundational node investors helped Harmony launch open staking and are part of the active validator group.
- 29.6% on Product and Engineering. These tokens were used to engage developers to build out the core protocol and ecosystem applications via consulting engagements, global team, grants and bounties.
- 46.2% on Marketing and Growth. These tokens were used to grow the overall awareness and utility of Harmony ONE tokens with marketing campaigns and partnerships. The expense includes Binance IEO, Binance US launch, Huobi promotions, exchange listings, legal fees, media engagement and event sponsorship. We also acquired Quidd with Animoca Brands to expand on branded assets.
We will be publishing another bi-annual update in Q3 2021 to cover all of the activity of 1H 2021. The Harmony Foundation looks forward to using both our Ecosystem and Protocol tokens to develop cross-chain finance adoption via grants and partnerships.
Developers can build on Harmony today, a fast and open blockchain for decentralized applications. Harmony Mainnet supports state sharding with instant finality. Our staking mechanism reduces centralization while supporting delegation and slashing.
Got an idea? Build it on Harmony and apply for a grant.
We ❤️ Developers.