Harmony Launches $300 Million Ecosystem Fund, Rallying 100%

Many projects are announcing multi-million dollar funds to encourage developers and investors to take their initiatives into the layer-2 ecosystem, which appears to be becoming a trend in the market. Harmony is one of the latest projects to join the trend (ONE). The project is a two-second finality blockchain protocol. Aside from that, the project provides layer 1 protocols like BTC, DOT, and BSC with cross-chain bridges.

The initiative recently announced the creation of a $300 million fund to help it grow its ecosystem. The platform hopes to empower 10,000 crypto startups, builders, and creatives through the fund. The platform’s native coin, ONE, soared by more than 100 percent on the announcement.

According to data from coin tracking services like CoinMarketCap and CoinGecko, the price of ONE has increased by 120 percent since its low point of 0.095 USD on August 31, 2021. On September 9, 2021, it hit a day high of 0.21 USD. The trading volume also increased to almost 700 million dollars. Harmony has also secured strategic collaborations and cross-chain integrations in addition to the financing announcement. All of this transpired in the last few months, the most recent being Harmony’s announcement of a cooperation with Anyswap on September 8.