u.today
Ethereum-based decentralized exchange Sushi is set to launch its full suite of products on top of Harmony, according to a press release shared with U.Today.
In addition, the platforms will work together to distribute a total of $4 million worth of mining incentives and rewards to users.
As part of the partnership, Sushi and Harmony are building a robust cross-chain finance stack, connecting developers that use Web 2.0 and Web 2.0 technologies.
"We believe this partnership with Sushi is just the beginning of bringing millions of people into decentralized finance. As our mainnet matures, we are onboarding more key DeFi primitives that will enable access to many new communities and we are excited to work with Sushi on this journey," Harmony founder Stephen Tse said.
The collaboration also includes deploying Kashi, the first dApp built on Sushi’s Bento Box, on the Harmony platform. This will allow the dApp to utilize all assets in the Bento Box vault.
According to the developers, unlike other existing platforms, such as Aave and CREAM, Kashi isolates borrowing and reduces risks by allowing users to borrow and lend individual pairs.
For promotional purposes, the two projects are organizing a special $2 million liquidity mining campaign that will merge Harmony’s massive market cap and Sushi’s innovative products. It will include $1 million each in ONE and 1SUSHI token incentives. The campaign will be available for the users of the decentralized SushiSwap exchange within the next 12 months.
Harmony will also make a step toward its far-fetched goal of reaching "billions of users" by organizing a hackathon that will bring Web 2.0 and Wall Street developers to Web 3.0.
Sushi will also sponsor a hackathon that includes four challenges with a maximum prize of $ 25,000. Harmony promises to present the details of the event in July.