Since its inception, VenomDAO brings liquidity to the Harmony eco-system. This has been continued with several products which allow network users to benefit from its unique opportunities. DeFi users have been accustomed to Harmony. The Harmony liquidity infrastructure has also been used by multiple blockchains.
Nearing the year-old anniversary of the protocol, VenomDAOcontinues to be a valuable service to Harmony. VenomDAO’s position as an expert on Harmony has been solidified by ViperSwap, which was the first AMM/DEX to offer incentives and population farming. CobraSwap for BSC is its first multi-chain expansion. But what’s next?
VenomDAO launches Comfy Money
VenomDAO’s latest release, Comfy Money joins a long list of other products. The new product includes an algorithmic stablecoin, which will be tied to $ONE. This protocol is multi-token. It allows for multiple tokens to be used on the platform. Comfy Money supports three tokens: $COMFY (CSHARE), $CBOND (CBOND).
As for the underlying mechanisms, they will systemically adjust $COMFY’s supply to move its price in accordance with that of $ONE, making it a stable peg.
Comfy Money is an incentive to Harmony users, who will be able to use more $ONE tokens as validators for the maintenance and security of the blockchain. You can then trade $COMFY, which is a 1:1 peg across all DeFi protocols within the Harmony network. This will allow you to keep the $ONE token’s appreciation over time.
VenomDAO’s continued development of liquidity infrastructure will be assisted by Comfy Money.
Future-proofing Your Building
VenomDAO’s suite of products, consisting of past, present, and future launches all build into its mission to bring liquidity to Harmony. There have been many protocols developed for the blockchain, which has seen DeFi activity rise in recent years. Every one of these projects requires liquidity. VenomDAO offers a platform that allows them to start their own liquidity, and bootstrap other projects using the Launchpad.
VenomDAO’s upcoming money market product is designed to capture additional TVL (Total Value Locked), for the Harmony ecosystem. The ecosystem will have deeper liquidity. It also brings additional applications to WAGMI tokens and VIPER tokens. The platform will be launched as a perpetual/leverage platform, which will use ViperSwap to offer leveraged trading and yield farming.
ViperSwap will get an update this year, with new user interfaces for ViperSwap and a shift to veVIPER. This includes decentralized allocation via gauges and gamification and NFTs that unlock exclusive functionality. Furthermore, VenomDAO will bring Protocol Owned Liquidity (PoL) with WAGMI getting new bonds to enable auto-staking/flexible vesting and WAGMI Pro with bonds as a service for existing Harmony projects seeking their own liquidity.