Harmony and Huobi Cross Paths in Asia

Place/Date: USA - October 12th, 2019 at 4:29 pm UTC · 4 min read
Contact: Garlam Won, Head of Marketing, Source: Harmony

Harmony and Huobi Cross Paths in Asia

Huobi, a leading cryptocurrency exchange, and Harmony, a throughput scalable blockchain consensus platform have announced a partnership to list Harmony’s native token and work together with a focus on Asian markets.

Harmony will be the first Binance IEO project to be launching on the Huobi exchange.

According to the Huobi announcement, Harmony’s token, under the ticker ONE, is now available for trading in three pairs: ONE/BTC, ONE/USDT & ONE/HT.

In anticipation of the listing on Huobi Global, Harmony has implemented a bridge which allows users to swap their BEP2-type $ONE tokens on the Binance Chain to ERC20-type $ONE tokens on the Ethereum blockchain. The bridge will also help other exchanges that are looking forward to listing $ONE tokens but currently do not support Binance Chain.

Harmony’s Focus on Asian Markets

The Huobi announcement is part of Harmony’s strategic expansion into Asia.

First, Harmony has recently on-boarded a Samsung wallet supported health data app Lympo. Leveraging Lympo’s 300,000 user base in the U.S. and Korea (growing 250% month over month), Harmony aims to jump-start the ecosystem growth in Korea.

Second, through the raise of $5.5M in the node round with the key partners including Binance Labs and HashKey, Harmony is working closely with those key partners to expand into China to acquire development resources and business partners.

Third, Harmony is building a Korean entity, working with one of the top angel funds in Korea called Big Bang Angels who’s portfolio value exceeds $300 million USD. Through the program called K-Global (sponsored by the Korea Government), Big Bang Angels will help Harmony establish a Korea entity as well as scaling operations to greater Asia via connecting with ecosystem partners and enterprises.

Harmony’s Head of Marketing, Garlam Won, who recently moved to Korea to help with Asia expansion states;

“Asia is home to some of the fastest-growing economies in the world today. With its melting pot of diverse cultures, it’s a complex territory but an incredibly exciting one. In order to be successful in the Asian markets, it’s important to  understand not only consumer trends but also engage with local ecosystems and tech communities At Harmony, we are focused on establishing a foundation to grow an active ecosystem, especially in 4 core markets around Asia – China, South Korea, Vietnam, and Indonesia. According to a Global Markets Insights (GMI) report, the total size of the Asia-Pacific blockchain market could reach $16bn by 2024, which represents an 87% CAGR during the forecast period.”

Harmony’s Development Progress

Harmony is gearing up for Mainnet Phase 2. Working with a hard-wallet partner, Safepal, Harmony has successfully completed the test swap from BEP2 to Harmony ONE native token. With mainnet phase 2 comes open staking.

Harmony’s quickly maxed out the cap of 20 million ONE token with Honest Mining, a Proof of Stake mining pool and saw a similar phenomenon with its social mining campaign called Dao Maker, a community initiative where anyone can stake ONE tokens in the platform and can earn ONE reward by helping Harmony reach more people, acquire supplemental tech development, and grow businesses development.

Starting about a week ago, Harmony’s Dao Maker program has over 20 million ONE tokens that have been staked. With an innovative model called EPoS, Effective Proof of Stake, Harmony is in the final stages of releasing it’s open staking to the public.

About Harmony

Harmony is a fast and secure blockchain. Built by a team of engineers from Google, Apple, Amazon, Harvard, and Stanford. Harmony aims to solve the scalability issue using deep sharding. For more information visit https://harmony.one/ or join Twitter or Telegram

About Huobi Group

Consisting of ten upstream and downstream enterprises, Huobi Group is the world’s leading blockchain company. Established in 2013, Huobi Group’s cumulative turnover exceeds US $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries. Find us at hbg.com