Category Archives: Guides

How to Delegate Your Harmony (ONE) Tokens and Earn Staking Rewards

Earning rewards by staking your ONE tokens is easy with the help of the Harmony dashboard and its Chrome extension. Here’s everything you need to know to get started.

What’s a Delegator?

Harmony is currently made up of 320 seats for validators. You can earn staking rewards by delegating your ONE tokens to any one of these validators.

Note: Delegating is completely safe and the validator does not have access to your funds. It is all done via a smart contract.

When you delegate to a validator, you will start earning rewards if that validator is elected for the next staking epoch. Each epoch lasts 1.5 days.

If you want to undelegate your ONE tokens, the unbonding time is 7 epochs (10.5 days) from the last epoch the validator was elected. If you want to undelegate from a validator that has never been elected, the unbonding time is only 1 epoch (1.5 days).

Your rewards can be claimed at any time! 😁

How to Delegate and Stake Your ONE: Step-By-Step Instructions

First, you are going to need your chrome extension. You can download it here.

Click on the Chrome extension and either (1) create your Harmony wallet and write down your seed phrase or (2) recover your already-existing wallet.

Fund your wallet with the amount you plan on staking. Then go to staking.harmony.one. You will see this dasboard.

This dashboard shows you all the elected and unelected validators.

Go to Portfolio and you will be prompted by your Chrome extension to select your account.

Now you can delegate to whichever validator you choose. Delegating to a validator to earn ONE rewards is easy.

Consider Delegating with Us

We run our own validator called HarmonyNews.one ☝️. We now have over 84 million ONE staked with us!

  • ✅ Running 3 cloud servers each with backups (so 6 cloud servers in total)
  • ✅ Validator will be safe (2FA protection) and always monitored for uptime.
  • ✅ Been running foundational nodes since summer 2019 so we know what we’re doing.
  • ✅ Support Harmony’s community project which brings you the latest news.
  • ✅ Rest easy knowing you are earning well.

We’re a community initiative that’s been supporting Harmony for a long time now, so thanks if you decide to delegate with us!

To delegate, simply click “Delegate” and you will be prompted with your Chrome browser extension again. Select the amount you want to delegate and confirm.

… and done! You will see all your delegations in the Portfolio section of the staking dashboard where you can follow and claim your earnings.

Where to Trade Harmony (ONE)

Harmony (ONE) is currently trading on a variety of exchanges and has a healthy trading volume relative to its market capitalization. Please keep in mind to conduct due diligence before trading on any of these platforms.

Binance

Currently, Binance is the best exchange to buy and sell Harmony (ONE) if you are not an American.*

The leading exchange by cryptocurrency trading volume has the following trading pairs:

Harmony held an initial exchange offering (IEO) on Binance on May 28 and raised $5M. In total, 16,666 spots were given out and each was allowed to invest a maximum of $300. It has been trading on the exchange ever since.

*Note: As of September 12th, Binance is unavailable to those in the United States. Instead, they must sign up for Binance U.S.

BitMax

Harmony (ONE) was listed for trading on BitMax on August 9th, 2019. Currently, there are two trading pairs for ONE on the exchange.

KuCoin

Harmony (ONE) started trading on Kucoin on August 22nd, 2019. Currently, there are two trading pairs for ONE on the exchange.

Gate.io

On August 19th, Gate.io held a sale for ONE tokens. Since then, Harmony (ONE) has been trading on the exchange against Tether (USDT).

Huobi Global and Huobi Korea

Harmony (ONE) participated in Huobi’s FastTrack Phase 9 contest and was subsequently listed on the exchange. It began trading on Huobi Global and Huobi Korea on October 10th 2019. It is currently trading against Bitcoin (BTC), Tether (USDT), and Huobi Token (HT) on both platforms.

*Note: Huobi is currently the only exchange that trades ERC20 ONE tokens. All other exchanges trade mainnet tokens. They have still not conducted their token swap.

WazirX

Harmony (ONE) was listed on WazirX on April 21, 2020. WazirX is the leading exchange in India. it is currently trading against Tether (USDT).

Bitcoin.com

ONE was listed on Bitcoin.com’s newly-released exchange on October 17th, 2019. The website has been around since Bitcoin’s beginnings, and Harmony was chosen as one of the first tokens to be trade on its new exchange.

  • (ONE/BTC)

Sign up and trade on Bitcoin.com here.

HitBTC

Harmony (ONE) has been trading on HitBTC since September 20th 2019. It is currently only being traded against Bitcoin (BTC).

Bcnex

Bcnex is a Vietnamese exchange which is up-and-coming in Asia. On October 18th, they added two ONE trading pairs: ONE/BTC and ONE/USDT. The announcement was met with a lot of social media buzz.

Bilaxy

Harmony (ONE) has been trading on Bilaxy since May 28th, 2019. However, the exchange is not officially affiliated with the team so use at your own risk.

BiHODL

BiHODL held a token sale for Harmony (ONE) on its exchange on May 27th, 2019. Only $18,000 worth of ONE was offered at a price of $0.003175 per token. Since then, ONE has been trading on BiHODL against its USDT trading pair.

Coinbase (under consideration)

On August 5th 2019, Coinbase announced that Harmony (ONE) is under consideration to be added to the exchange. It is one of the 8 cryptocurrency projects on Coinbase’s short-list. There has not been an update since the announcement.

If ONE is added to Coinbase, it will likely not happen until MainNet ONE tokens are released and after the token swap.

Buy and Sell Harmony (ONE) with Fiat

Crypto.com (Various fiat currencies supported)

Crypto.com is a wallet with a built-in gateway for purchasing cryptocurrencies with minimal fees. It currently supports 7 fiat currencies and dozens of cryptocurrencies. On June 6th, Crypto.com listed Harmony (ONE) along with 3 other Binance Launchpad projects. You can purchase and sell Harmony (ONE) through Crypto.com with USD, Euros, and other fiat currencies.

Find out more about Crypto.com and buy ONE with fiat by signing up here.

Bitladon (EUR)

Based in the Netherlands, Bitladon allows one to buy cryptocurrencies with euros in a simple and cost-effective way. They added Harmony (ONE) to its marketplace on July 22nd, 2019.

Buy ONE with EUR on Bitladon here.

Coinmerce (EUR)

If you are trying to buy Harmony (ONE) with euros, then Coinmerce offers direct fiat purchases. A Dutch start-up started in 2017, the site hopes to make fiat-to-crypto buying and selling easy.

Buy ONE with EUR on Coinmerce here.

CoinSpot (AUD)

If you are Australian, CoinSpot is one of the best choices for buying ONE directly with AUD. Founded in 2013, it has a longstanding history of being compliant and secure. It is currently the only exchange that allows you to buy ONE with AUD, listed on July 1st 2019. The fee for buying and selling is relatively low at 1%.

Buy ONE with AUD on CoinSpot here.

Coinhako (SGD, IDR, and VNDT)

Coinhako is a cryptocurrency wallet that supports buying ONE with fiat deposits. It is currently one of the leading wallet providers and fiat marketplaces for buying cryptocurrencies in Asia. Coinhako is based in Singapore.

Currently, ONE is trading with three fiat pairs.

  • ONE / Singapore Dollars (SGD)
  • ONE / Indonesian Rupiah (IDR)
  • ONE / Vietnamese Dong Token (VNDT)

Sign up for Coinhako here.

Coinfinit (KRW)

Coinfinit is a South Korean exchange which specializes in cryptocurrency trading with the South Korean won (KRW). It currently boasts a Harmony (ONE) trading pair which was added October 1st, 2019.

Infographics

https://harmony.one/images/onepager.jpeg

What Is Harmony (ONE)?

The cryptocurrency world has always struggled with decentralization at the expense of transactional output and security. Yet, one project called Harmony (ONE) stands out in its technical implementation of sharding and a unique proof-of-stake consensus method which will soon prove to be milestone for the blockchain industry. Here’s what you need to know about what sets Harmony apart.

The Problem

When we think of the ideal blockchain-based network, generally three properties come to mind: it has to be secure, it has to be scalable, and it must be decentralized. However, the industry thus far has struggled with creating a network that maximizes all three of these properties—a problem which has been dubbed the ‘Blockchain Trilemma’ in the cryptocurrency world. It’s illustrated below.

If we look at our most popular blockchain networks today, they are ultimately all working towards strengthening their weakest link among these three properties. Ethereum, for example, struggles with scalability despite boasting a highly-secure and decentralized network. EOS, on the other hand, boasts high scalability and network security but at the expense of decentralization. In other words, there has yet to be a blockchain network which effectively resolves this fundamental trilemma, a truly decentralized, scalable, and secure network.

It’s All about Sharding

Luckily, there seems to be some consensus in the cryptocurrency industry on how to best tackle this issue. The solution that’s been proposed is sharding, or the breaking up of the network into shards which allow for the parallel processing of consensus. In effect, it allows for a blockchain network to not only be decentralized and secure, but also potentially infinitely scalable. Bear in mind, though, the concept of sharding has been around for some time. In fact, it has been used in centralized databases since at least the 1990s to allow for quicker processing. Applying sharding to blockchain networks, however, has proven to be incredibly complex—but one project is finally making it possible.

Harmony (ONE) is the first blockchain network to turn this once-theoretical concept into reality. Harmony is the first to successfully implement shards on a functioning proof-of-stake MainNet—the same concept which will form the architecture of Ethereum 2.0 by 2021. If successful, Harmony will end up forever transforming what’s possible with decentralization—and the entire cryptocurrency industry will inevitably feel this monumental impact.

So, let’s talk about Harmony and what fundamentally sets them apart from all the other thousands of cryptocurrencies in the market today. It comes down to two things: the technology and team’s talent.

Introducing Harmony

“The first fully-sharded proof-of-stake blockchain network.”

An ambitious team of Silicon Valley engineers based in San Francisco has come together to build the first blockchain network best designed to meet mass demand. Harmony is in a position now to be the first to successfully implement a full-sharding solution, well over a year before Ethereum 2.0 is expected to be released. The good news is, you don’t have to believe in the team’s vision—you can simply look at the results on Harmony’s actual MainNet.

Some Quick Tech Facts about Harmony

  • The fungible currency for the Harmony Network is ONE, used as both gas and a utility token on the network.
  • MainNet currently boasts 4 shards on a low-latency (8s) network which scales horizontally with the addition of new shards as demand increases.
  • Each shard is capable of 1,000 transactions-per-second.
  • 1,000 nodes are currently live and confirming blocks on the Harmony network.
  • Consensus is achieved on the network through a uniquely modified proof-of-stake model called Effective Proof-of-Stake (ePoS).
  • A fully scalable, customizable blockchain platform that will be capable of supporting dApps, smart contracts, and mass usage for billions.
  • One-click migration from Ethereum to Harmony. Made to be simple.
  • Currently, the only blockchain with a functioning mainnet to successfully implement multiple shards coordinating in a proof-of-stake consensus model.

Follow the Talent

None of this would be possible without Harmony’s San Francisco team which is stacked with talent, committed to making this vision a reality. Currently, the team boasts 7 ex-FAANG engineers (Facebook, Google, Amazon, and Apple) and two PhDs.

As CEO, Stephen Tse brings it all together. His time as a researcher at Microsoft Research, a senior infrastructure engineer at Google, and a principal engineer for search ranking at Apple uniquely gives Harmony that ‘Silicon Valley touch.’ In 2014, his startup Spotsetter was acquired by Apple for $10M—news which made waves in the tech world.

The talent on board the team makes Harmony one of the most research-backed blockchain platforms out today.

For detailed information on the team, check out their official page here.

>> Read More: Partnerships and Praise for Harmony <<