Harmony announces a strategic partnership with PowerPool to bring diversified smart indices to ONE ecosystem
Today we are excited to announce a strategic partnership between Harmony and PowerPool to bring advanced structured investment products/asset management solutions to ONE ecosystem. The main goal of this partnership is to make the Harmony Defi ecosystem easily accessible to everyone via diversified DeFi pools/indexes managed by PowerPool DAO.
PowerPool plans to build Harmony DeFi blue chips investment token, titled ‘$ONEDEFI’. PowerPool’s pooled $ONEDEFI investment token will allow getting exposure to ONE DeFi ecosystem with a single token offering auto-harvested rewards.
$ONEDEFI token representing an actively managed basket of best Harmony DeFi assets automatically harvesting yield.
$ONEDEFI design represents PowerPool vision: DeFi indices should offer not only exposure to price action but also staking rewards which are substantial especially at the early stages of adoption and TVL acquisition.
$ONEDEFI as a necessary product for Harmony DeFi adoption
Harmony DeFi sector grows rapidly and attracts a lot of attention from DeFi users and investors. On the one hand, high staking rewards aimed at bringing new users and adoption to ONE DeFi products are quite attractive. From another one high possible volatility and extremely high level of competition with other chains for TVL possess risks of downside.
PowerPool aims to deliver a product that will solve this problem offering easy-to-use actively managed indices with automatic rewards harvesting and hedging option:
Buy ONE ecosystem using one token
This will drastically simplify “betting” on ONE’s DeFi future including staking yield streams. Additionally, it is important to mention Harmony scalability and low cost of usage allowing to design of DeFi products with complex strategies based on on-chain contract calls execution.
About PowerPool
PowerPool is a multi-chain DAO manager of non-custodial, structured, thematic investment products. These products are rewards-rich, gas-efficient, targeting various L1 and L2 chains, offering average investors easy-to-use hedging options. PowerPool operates an advanced asset management platform using an affiliated network of Power Agent contracts that can automate any on-chain activity. It allows building actively-managed pools/indices with auto-harvested rewards and more complex structured investment products such as:
- Indices with automated rewards harvesting and smart rebalancing
- Yield aggregators working on top of the fund-of-funds model
- AMM pools with additional asset management features, using tokens outside AMM for an extra yield
Current products already launched by PowerPool include three Ethereum-based investment pools ($PIPT, $YETI, $ASSY), and most recently $BSCDEFI launched on Binance Smart Chain. Powerpool also operates $YLA (Yearn Lazy Ape), one of the oldest and most effective stablecoin yield optimizers originally launched in collaboration with Yearn.Finance and in use by the Yearn/YFI treasury.
You can learn more about PowerPool on our website: https://powerpool.finance/
Join PowerPool Discord server: https://discord.com/invite/c5NhqqjYjE
About Harmony
Harmony is an open and fast blockchain. Our mainnet runs Ethereum applications with 2-second transaction finality and 100 times lower fees. Our secure bridges offer cross-chain transfers with Ethereum, Binance and 3 other chains.
Build on Harmony, bridge to all chains. We are an open platform for your assets, collectibles, identity and governance. Come harmony.one/apply!
