Harmony, in partnership with DAO Maker, is launching a new initiative to grow the Harmony ecosystem.
Each month, at least $10,000 worth of ONE tokens will be distributed in the Social Mining ecosystem. Users who exerted the greatest effort to help Harmony reach more people, acquire supplemental tech development, and grow businesses development will be rewarded.
As in any DAO organization the distribution of value and grants is up to the DAO participants. Participants are required to stake at least $100 worth of $ONE to determine which actions are contributing real value on the development of Harmony ecosystem.
Join Harmony DAO Maker and claim up to $10,000 worth of $ONE rewards!
Discover here the type of projects which could be submitted on Harmony DAO maker!
What is a DAO?
Decentralized Autonomous Organizations are among the most promising real-world use cases, which challenge traditional governance norms, offered by the blockchain. DAOs are the first communal effort to coordinate a value-adding society without the existence of a centralized authority or a representative leadership. DAOs make collective decision-making possible in practice.
Before introducing Harmony’s DAO, it’d be meaningful to explain what a decentralized autonomous organization, shortened as DAO, really is.
In its simplest form, a DAO is an organization with a common mission, which is governed via a trustless protocol to facilitate decision making for a specific cause. While the expected result for a DAO could be common, there is no need for all participants to choose the same path to achieve goals. Through this, DAOs are able to foster individualism while collectivizing efforts towards a mutual community direction.
The original DAO, introduced in May 2016, attempted a revolutionary, decentralized business model where the organization was collectively authorized by smart contracts. The project’s goal was to enable DAO token holders to vote on matters such as venture funding to community proposals that were expected to generate rewards for the community. The DAO managed to gather 12.7M ETH, or 14% of the Ether supply.
While the DAO could have been a novel concept and significant milestone for the history of web decentralization, it, unfortunately, succumbed to a smart contract vulnerability.
The Harmony DAO, operating on Social Mining
Three years after the first DAO, the blockchain sector can notice a revival of the DAO concept. Harmony has always been a community-led project and thus constantly aspires to encourage and highlight efforts from our members as these will be true source of success for the Harmony ecosystem.
A DAO is a decentralized autonomous organization and it is the epitome of value creation without the controls of central power. In order to maximize the outcome of this community-led value creation, Harmony is integrating with DAO Maker’s Social Mining to launch a user-centric DAO powered by the ONE token.
Harmony community members can join the Social Mining ecosystem by signing up through the user dashboard here.
Be a part of the Harmony roster, from the comfort of your home!
To qualify as a community member, a user must hold at least $100 worth of ONE tokens.
Social Mining is a rare opportunity for Harmony’s community to help the ecosystem grow through a wide array of means and then be rewarded for the work.
Through the launch of the Harmony DAO, the ONE token is given the same attributes that the community had sought for the original DAO Project, which raised 12.7M Ether 3 years ago (valuation of $2B+ today).
This new venture makes ONE tokens the fuel for a community centre where Harmony supporters can grow the project and then validate each others’ efforts, without the need for involvement from the Harmony team. Harmony is a network designed to serve ten billion people, and it needs its community to fulfil this goal.
The launch of the Harmony DAO adds a new utility to the ONE token.
Users who hold ONE tokens can now take advantage of their stack to become value validators within the Harmony DAO.
As Social Miners, who are essentially Harmony community members that help the project through the Social Mining platform, initiate their work, users with high holdings of ONE will have a higher power invalidating the value created by other users.
The ONE ecosystem continues its growth.
ONE token is now a means to have a voting right for assessing the value created by community members in a totally decentralized way, without the team being able to influence the direction of those community-led initiatives.
Virtually any type of work can be redeemed for ONE tokens through Social Mining. Users can promote the project through their social channels, create high-quality content that allows more people to understand Harmony, develop creative artwork that makes the community more engaged, introduce the blockchain to developers and businesses, develop DApps or supplemental technology on the network, etc.
Let’s Grow Harmony together!
The launch of the Harmony DAO furthers the vision of blockchain technology to enable an opportunity for decentralized value creation. Anyone anywhere can grow the Harmony ecosystem with as important a role as Harmony’s core team, and all these community members will be rewarded.
ONE for all, and all for ONE.
Learn about DAO Maker and Social Mining
Social Mining Wiki: https://social-mining.gitbook.io/social-mining/
Social Mining Whitepaper (DRAFT): https://daomaker.com/wp-content/papers/dao_whitepaper.pdf