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VenomDAO continues its path to becoming a liquidity solution for Harmony. The organisation aims to become a complete solution for all aspects of DeFi: swapping, lending, borrowing and many others.
A variety of new products in 2022
Throughout 2022, VenomDAO is planning to introduce numerous products, including a turnkey launchpad solution where projects will be able to bootstrap their own liquidity from the moment they launch, and a platform entirely dedicated to stablecoin swaps.
VenomDAO will also release a money market, aimed at capturing additional TVL for the Harmony network, and deeper liquidity and use cases for VenomDAO governance tokens. A perpetual and leverage platform will utilize the money market for leveraged trading and yield farming.
Seigniorage protocol ‘Comfy Money’ will become a liquid alternative to the Harmony $ONE coin, allowing more $ONE to remain staked with validators to secure the blockchain.
Project’s achievements
While VenomDAO is getting ready to present a whole variety of new products in 2022, it has already established its reputation in the DeFi field by launching numerous industry-leading solutions in 2021.
In March 2021, the project launched decentralized exchange ‘ViperSwap’ - popularizing yield farming and DeFi on the Harmony network. ViperSwap includes a novel lockup/unlock system which has been adopted by other popular protocols such as DeFi Kingdoms.
As part of a multi-chain expansion, VenomDAO launched CobraSwap on Binance Smart Chain back in July 2021, and then presented Euphoria - an algorithmic reserve currency - on Harmony. Euphoria was one of the first protocols to integrate Chainlink Price Feeds when they went live on the Harmony network.
With a large number of products and solutions being released by VenomDAO, the organization is looking forward to becoming a full-stack solution for all aspects of the decentralized finance industry – an ecosystem that includes swapping, lending, borrowing, earning yield, yield optimization and leverage trading all in one place.
Vladislav Sopov