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10 May 2021

OIN Finance deploying on Harmony blockchain to create a ONE-backed stablecoin » CryptoNinjas

OIN Finance deploying on Harmony blockchain to create a ONE-backed stablecoin » CryptoNinjas


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OIN Finance deploying on Harmony blockchain to create a ONE-backed stablecoin CryptoNinjas.

Harmony, a sharding protocol with a trustless Ethereum bridge, has announced that OIN Finance, a decentralized stablecoin issuance & trading platform, will be deploying on Harmony, to create a ONE-backed or ONE-denominated stablecoin.

A ONE-backed stablecoin is an important achievement for Harmony, as this helps grow its DeFi ecosystem; and helps establish an important DeFi primitive that can be used in all other DeFi protocols.

A ONE-backed stablecoin is unique because, unlike other stablecoins which are backed by the VIX (Benchmark Protocol MARK), the cost of a unit of production for PoW miners (Meter MTR), and others.

Starting with Ethereum, and gradually expanding to other popular ecosystems, OIN is on track to build a greater DeFi ecosystem and become a one-stop-shop for cross-chain stablecoin issuance, trading, and implementation.” – The Harmony Team

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