News by Altcoin Buzz: David Abel
Harmony in partnership with DAO Maker has announced the launch of a new initiative to improve the Harmony ecosystem.
In a tweet, Harmony announced the first DAO Maker initiative aimed at improving the HarmonyONE ecosystem. Accordingly, rewarding the ecosystem with about $10,000 worth of ONE tokens every month.
A blog post was released to further explain the development. The post pointed out that users who contribute to the growth of Harmony will be rewarded. This can be through reaching more people, acquiring supplemental tech development, or growing business development.
“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. Thus, determining which actions are contributing real value to the development of the Harmony ecosystem,” the post stated.
Additionally, with the launch of the Harmony DAO, the ONE token will have equal features with the initial DAO Project.
The initiative makes the ONE token a force in the mining community. Thus, Harmony supporters can grow the project and validate each other’s efforts without the involvement of the Harmony team. The Harmony network can serve about ten billion people, and the community helps in fulfilling this goal.
You can sign up through the user dashboard here.
To remind, Harmony announced a partnership with Chainlink to access off-chain data. At the same time, MyEtherWallet integrated with MakerDAO, to allow users to better utilize their stablecoin Dai without having to leave the MEW wallet.
What is DAO about
DAO is a decentralized autonomous organization and the embodiment of value creation without the controls of central power. To maximize output, Harmony is integrating DAO Maker’s Social Mining to launch a user-centric DAO powered by the ONE token.
Interestingly, social mining is an opportunity for the ecosystem to grow and reward proportionately.
In May 2016, the DAO first started out, which attempted a revolutionary, decentralized business model. Eventually, it gathered 12.7M ETH, or 14% of the Ether supply.