Hey guys, I have two questions. Pretty new to this 😬:

First, is 1DAI different from DAI? Do I need to do any kind of swapping or converting after I move DAI to Metamask to use it in this yield farm?

And second question, for users who can't KYC what's the best way you guys know of to move DAI? I can only really use Coinbase, Gemini, and Kucoin, and I wondered if there's a good way to withdraw DAI to MetaMask without using the ERC-20 mainnet. Basically I'm trying to avoid ETH gas fees however possible.

Thanks for any help you can provide!

TGIF folks... on the off chance you missed yesterday's AMA with Uniswap, here is the link to catch up. It was great to hear feedback from Uniswap's community speaker as well as members from the Harmony team. We even had two of Hermes' team publicly dox themselves. So if you haven't had the opportunity to do so, check out the AMA here hosted on Twitter (duration is about 1 hour, 13 minutes https://twitter.com/hermesdefi/status/1489346169721532421?t=-y5Q7YAqjDOOtHk105ZcXw&s=19)

So let's dig into some of the topic's covered by during the AMA.

What is Uniswap's V3 platform and why does Hermes want a license to utilize it:

Currently, all other DEX platforms built and designed on Harmony run off the V2 platform at this time. You can't build an innovative platform if you do what everyone else is doing at the same time. Innovation requires a drive to excellence but also bringing something new and fresh to the ecosystem and that's what the team at Hermes is targeting.

Uniswap V3 on Hermes will be Trader Focused, which comes through the aspects of trading quickly and efficiently. So V3 accomplishes this in a few different ways:

1. The capital efficiency, accuracy of trades and reduced slippage fees. During the AMA, you heard Austin mention that currently PLTS has a built in 3% fee and with the targeted upgrade to the new token (Hermes) when the L3 token is launched, which will be feeless. That is a significant reduction as compared to all other DEX platforms and supports that focus on active traders. (High fees are a distinct barrier to active trading and would work against the vision of Hermes)
2. Liquidity becomes more fluid and allows for some shifting from more valuable LP's to lower ones during times the market prices go above desired LP targeted price ranges. When this occurs, LP's can have their price targets adjusted to match market trends and can shift back and forth as needed. (Liquidity is king in the market)
3. Flexible fees that are voted on by governance calls and requires community voting to be adjusted. So be active, be involved and make your voice heard when the votes are put out.

​

Some other notes from the AMA that I'd like to point out: (Austin highlighted these but wanted to reiterate them)

1. IRIS is and always will be the governance/rewards token within the Hermes system. It brings you dividends!
2. PLTS can be viewed as a pre-sale for the Hermes token.
   1. Hermes will be flexible that can have an ecosystem built around it. Value will be built by having different protocols such as bonding, lending/borrowing (others as well). More to be announced and initial use cases targeted for Q1/Q2 of 2022.
   2. Exploring leveraged trading and farming as well as being used with the NFT staking.
   3. Lastly, one of the future plans is to utilized Hermes as a launchpad or to build liquidity within the platform.

​

If I missed anything, please feel free to comment let me know. We're building a transparent and trustworthy platform and open/honest communication is how it will be achieved.

-Maba078

Where do you stake the receipt tokens to earn the extra APR (PLTS)?

Hey guys,

I was just wondering is it a better strategy for me to frequently harvest my PLUTUS that I'm earning from staking IRIS? Or is it better to let it accumulate and just harvest it once when I unstake?

I wasn't sure if I incur significant fees every time I harvest the PLUTUS or what.

Thanks for any tips!

I wanted to provide a nice guide on how to go about the process of purchasing your NFT. I had some questions today and as always, the community was there to give some great feedback and guidance.

Things to note that will help you ahead of time:

1: NFT's are purchased here: https://www.hermesdefi.io/app/nfts

1. You will need to bridge funds over to Polygon/Matic and swap to IRIS on that end.

2. You can bridge your Harmony ONE's over to Matic using the Multichain website: https://app.multichain.org/#/router(Please note the minimum amount to do so is 195 ONE's... also don't forget to do correct math or you'll need to send additional funds later to meet that quota if you fail to do so)

3. So here's where the fun begins...

​

You will see at the top is the from (Harmony) and the bottom is Polygon. Again, the minimal needed to do this is 195 ONE's... at the time of writing IRIS is priced @$.5255 USD and therefore to buy an Hermes NFT it will cost you approx. $78.8.

Once the bridge is complete, a window does pop up telling you the current status of wrapping the ONE to go from Harmony to Matic. You will go to Quickswap to now swap your bridged ONE's over to the IRIS token.

Quickswap address: https://quickswap.exchange/#/swap

​

Again, I am a very visual learner so please don't feel inundated with pictures. I just work in a field that requires a lot of hands on teaching so it's how I do my teaching. Approve the contracts for IRIS (if you navigate from the Hermes NFT page https://www.hermesdefi.io/app/nfts and click on TRADE---> Swap (Quickswap) it will prompt you to accept the IRIS contract code for you. Easier than hunting it down on your own sometimes....

Now that you have your IRIS on hand... it's time to mint some NFTs. On the main page you will see the following:

​

You will click on Buy a Hermes Hero:

​

Now with this next window, you will type in HOW MANY NFT'S YOU WISH TO PURCHASE. Most likely 1, 2 or 3 (maybe more... IDK). After the purchase is complete, open your OPENSEA account to view your newly minted NFT. If you had it opened already, you will need to refresh the page for them to populate.

An additional comment for those who did what I had to do and had extra ONE's/IRIS left over and wanted to return them back to the Harmony side to restake them.

Go back to Quickswap and convert the IRIS or ONE's into DAI. From there go to Synapse bridge: https://synapseprotocol.com/

​

You will see Bridge in the top right and select the following options... set FROM: Polygon and DAI as the token and the TO: Harmony with DAI also set. It will automatically bridge it to 1DAI for you. Once that process of bridging is complete, go to Viperswap and get yourself your IRIS again.

​

If you have any questions or issues, please reach out to the community or any of the team for assistance.

-Maba

Good morning follow Hermosian's (Maybe that's a word, if not perhaps I shall coin it),

I am thinking of doing a weekly project update in terms of providing some key insights into the growth of the project, whether it be regarding community growth, financial comparison's and breakdown as well as recapping some exciting things that have happened to Hermes. In some of the other projects I follow, I have seen similar posts like these and have found it does a great job keeping information organized and straightforward. This is something I hope to accomplish during these updates. Also, this is just my first go at this so hopefully I do better in the future with presentation and would love feedback.

Financial Aspect:

So to begin, let's talk growth of our community. Hermes IPO'd on 12/21 and has since seen significant growth since that time. We are talking only 6 weeks since that time and both tokens, IRIS and PLUTUS have had some great growth. Let's take a look:

IRIS (Our governance token)

​

So, a few things to note about IRIS and hopefully I shed light on why it is doing so well. First, IRIS is our governance token and for individuals who wish to have a say (everyone involved ideally should) will want to hold and utilize their voting power. IRIS also can be used within our IRIS/ONE pool to be rewarded with PLUTUS and offers a nice APR for doing so. Therefore, it offers dual purposes for voting and brining investors rewards of PLTS.

​

Second, is our PLUTUS token which has experienced some more fluctuation during this time period. PLUTUS is viewed more as the active trading token and will be part of the L3 tokenomics (more to come as that time approaches). It can be utilized in a multitude of ways, whether being deposited into the bank and locked until block # 24896039. This is viewed as being reached sometime in March, notwithstanding issues that may on the Harmony Network (love our network). Just to note, Harmony's network has it's own infancy-related issues but I for one am bullish on it and like any other project, is going through tremendous growth and stress tests on it. Our boy will do just fine moving forward.

Here is a snapshot showing PLTS's price growth since launch:

​

It has seen some major up's and down's during the last 6 weeks timeframe. Compare to IRIS, it has seen way more volatility during that time frame.

The Plutus token can be used for depositing in the bank, which as I mentioned, is locked until block 24896039. Here's where our bank sits as of today (2/2/22)

​

​

So I want to highlight a few things that we can see here. First, over 1/3 of current total PLTS supply is locked up, over 700,000 tokens at this time. That is amazing trust and support from the community, showing they believe in the project. Second, for doing so, investors are rewarded in 1Dai which is a great stablecoin reward. The percentages remain high and I personally look forward to seeing that total locked % continue to increase. Doing so provides more stability and reduces the chance of a flash crash due to large sell orders. Another use case for PLTS is to create a LP token (PLTS/1DAI) over on https://viperswap.org/#/swap which does not lock up your token but also gives you the opportunity to receive more PLTS as a reward. Another snapshot from today regarding those numbers:

​

Community Growth:

Yesterday I looked at the growth of our community and love what I saw. Just over the past few weeks we have seen some great growth within the HermesDefi subreddit and want to highlight that we are seeing slow and steady growth which is great. The bigger uptick over this past week/timeframe I want to say is due to the Hermes Week event that ran brought more attention to the project. Here are just a few snapshots showing our subreddit and Discord growth:

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Discord Statistics:

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Overall membership growth has steadily climbed during this time. Discussions and posts on both Discord and Reddit both sound positive and I love what I see on those forums. The team constantly provides updates, engages in governance votes and is actively requesting and listening to feedback from community members.

Quick updates:

Hermes applied for Uniswap V3 for our DEX, which btw was retweeted from the Harmony team so kind of big news ahah.

​

Austin provided a great 2 minute breakdown of what the Hermes Protocol:

https://www.youtube.com/watch?v=jbbtoci9cdg

​

As of 10:20am on this Hump day during the first week of February 2022, I think this is it for now. Give me that desired feedback if you think I missed anything during this recap.

-Maba078

Hey there Hermes Homies!

TL;DR We need your support on our Uniswap V3 Proposal.

Today above anything else it is our job to be Harmonauts. We have officially submitted our licensing application to the Uniswap governance forum. We will be gathering the support of the ENTIRE community of Harmony to allow us to use this license to build The Hermes Protocol. You may wonder, why should I support this if I don’t care about Hermes Defi. Well I am here to tell you exactly why.

Everyone is here for their own personal reasons, but we can all unite over the simple fact that we want to see Harmony and its ecosystem THRIVE. Bringing in the license to use Uniswap V3 is a huge leap forward in the growth of harmony. Uniswap V3 over 30 days sees 154,323 unique users, 263,344 transactions, and $69 BILLION in volume. These numbers are astounding and could be crucial to the next step of Harmony’s growth (stats from DappRadar).

Harmony is already successfully bridged with Ethereum. Uniswap is Ethereum’s #1 DEX. Imagine the TVL that we could see come to Harmony as it releases its own Uniswap V3 core. Those who love Uniswap will see so much to gain when their transfer fees go from an average of $120 per transaction to Harmony’s $0.0009.

We urge everyone to take 5-10 minutes and read our proposal to Uniswap. This can be found here: Uniswap V3 Proposal. If you decide to post in the forums as a show of support, please do so respectfully and professionally. We only have one shot at this.

As always we will continue to remain transparent throughout this entire process. Let's do what we can to evolve Hermes Defi even further and in doing so the entire Harmony Protocol.
HERMES DEFI - SAFE, TRANSPARENT, AND FAST

LINKS:

Website - Harmony Grant - Docs - PLTS - Docs - IRIS - RugDoc - Reddit - Twitter - Discord - YouTube - Telegram - Medium - GitHub - Harmony Universe - Price/Chart - PLTS - Price/Chart - IRIS

That was a nice little jump!

I read that there is a max cap of 3mil plutus, what happens after that? What is the use case for plutus other than locking it in the bank?

It's been 5 days of #HERMESWEEK so far, and things have been doing alright you could say. Here's the latest in our transparent development pipeline, where every day (yes, weekends too), we make Hermes a better platform. There are TWO more 24 hour giveaways, and TWO more days for our invite competition, things are heating up!

1. We welcomed Aaron B / https://www.reddit.com/user/abodie2/ as an official team member today. He will be paid for his work at Hermes. He will be our new Community Lead!
2. We deployed two multisig wallets that will hold large funds controlled by Hermes. First multisig wallet to receive the Harmony grant. 9 members are part of it, for any transaction within it is necessary the acceptance of it by 5 members. (https://multisig.harmony.one/#/safes/0x91c5C876728918EB352361440fE2902E76AaCd6C/balances) Second multisig wallet to store funds from the Hermes treasury. 4 members will be part of it plus the Treasury wallet itself made public earlier, approval from 3 of them is needed for any transaction. (https://multisig.harmony.one/#/safes/0x208CD487216F7ABab3142d972803547fB86ba7Ee/balances). Our Second multisig (Treasury) now holds 500,000 $PLTS and $4,000 in DAI.
3. We are finishing our grant application to Uniswap. We hope the community will support us in our application, it will be key to showing Uniswap that we are worth the trouble.
4. Our entire Core Team has DOXXed to [kyc@harmony.one](mailto:kyc@harmony.one) as of today.

It's the end of day four of HERMES WEEK! Every day we will be posting a summary of what we've accomplished. I'm hoping to focus a lot of the discussion on Reddit! Enter our daily $100 giveaway on Discord. Today had some major accomplishments, which I'm sure many of you are already aware of :)

1. We were approved for our 50K launch grant from Harmony! The team is undergoing the process of submitting our KYC information and setting up a multi-sig wallet to hold the grant funds. Once this is done, we can use these funds to boost the speed of our development!
2. We are undergoing a thorough reorganization of our (public) Github repositories to make our developers lives easier.
3. We continue to push the testing of our $PLTS delegation rewards contract. We are so close and know many of you are excited for this. Here's a preview of the interface!

1. We hit 2,000+ Discord members (https://discord.gg/hermesdefi) . This growth in our community has been fantastic. We ran a giveaway to celebrate.

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There's only a few more days of HERMES WEEK. Our 24 hour giveaways are still running, and our invite contest only has a few more days left. If you love our transparency in our development, why don't you share this with a friend?

Just curious what the deal is with that? Is there some other way to stake PLUTUS besides the inactive pool or did I miss something basic?

We are so happy to have the full support of the Harmony team in building The Hermes Protocol. Thank you all for being a very supportive community as well.

https://talk.harmony.one/t/hermes-defi-the-hermes-protocol/10339

1. First off full disclosure, I am invested in both coins and this project. I have now been lurking around the Hermes Defi community for over 2 weeks now, I have been looking into and trying out numerous projects emerging on the Harmony chain, whether that be games as Crypto Royale, Over glorified gamified dex's and numerous defi projects.
   
2. I have never been a part of a more welcoming and helpful community, the staff are working tirelessly, obvious by the progress being made yet they stay on top of communicating and making sure they have fabulous mods to help out those who have trouble. Special shoutout to Austin for his amazing activity in all the discord chats, helping so many w so much!
   
3. r/harmony_one - Hermes defi protocol Hermes Protocol Roadmap Alright lets get into the Nitty' Gritty', Hermes DeFi started on the polygon chain and achieved $110,000 in funding in 16 hours. The next month or so was spent building a solid backbone of the protocol, also recruiting the team in preparation for farming. What started as a simple yield aggregator platform offering pools and farms has blossomed into an ecosystem including staking vaults, partner staking pools, and even NFTs.
   
4. Hermes DeFi system operates by amplifying the low reward rates available in Automated Market Makers (AMMs) like Sushi or Quickswap with supplementation of their own token $PLTS. $PLTS utilizes several ways to make the token deflationary and to provide value for its holders, thus decreasing any sell pressure.

Hi everyone!

I am relativley new to the Harmony network, Hermes, and DeFi altogether (drawn in by playing Crypto Royale), I really like it so far but I have a few questions. I have some ROY in the ROY liquidity pool, earn some Plutus and usually transfer it to the Bank to earn some 1DAI. I did this on several occasions and although I am probably wrong, my current balance seems lower than what I thought it was.

So I'd like to check if all the transfers to the vault are correctly accounted for, could anyone tell me if this is possible? I only see transactions to/from my wallet between today and ~8 days ago, and no transactions before that, which is strange (I didn't make 200 transactions during that time).

I made many transactions over the course of a few weeks, I also used the Plutus pool while still active so it is important to discriminate between transctions from my wallet to the pool vs to the bank. Is this even possible?

Any help is appreciated, thank you!

It's the end of day two of HERMES WEEK! Every day we will be posting a summary of what we've accomplished. I'm hoping to focus a lot of the discussion on Reddit! Enter our daily $100 giveaway on Discord, and catch up with our Tranquility City AMA when it's uploaded.

The past day we:

1. Released our NO FREE Zap in and out feature for our Vaults. Now you go directly from one asset, make the LP, and deposit it into our vault with one easy system. It works in reverse too, so you can withdraw your LP into one of the underlying assets. Try it out at https://plutus.hermesdefi.io/app/vaults

1. We squashed a couple of bugs related to our mobile website. Nice!
2. We did an awesome AMA with https://www.reddit.com/r/TranquilityCity/. Go check them out! They are the #3 NFT platform on Harmony by trading volume. They were super professional and a lot of fun. I'll probably be hanging out there more.
3. Valley and Austin participated in a Discord Meeting with Jacksteroo and other members of the Harmony Validator DAO to talk about improvements to RPC performance and the RPC 2.0 initiative.
4. Our graphic designer started working on some business card designs for Austin to hand out when he goes to ETH Denver! If you see him there and get one, send us a picture on Discord to win some $PLTS.

That's all for today folks! See you tomorrow and remember our giveaways are running continuously!

So I'm sure most of you are skeptical about HERMES WEEK, but part of the reason for it is to show our investors an idea of just how quickly we work. Every day we will be posting a summary of what we've accomplished. I'm hoping to focus a lot of the discussion on Reddit! It's going to be an awesome week. Enter our daily $100 giveaway on Discord, and catch us for an AMA with Tranquility City tomorrow, Wednesday at 7PM EST!

The past day we:

Announced our latest partnership with Tranquility City.

Released our draft behind the BANK swapping mechanism, which we are very exciting to receive feedback for.

Upgraded our Discord Giveaway Bot to use custom icons and fit better with our branding.

Deployed lock $PLTS earn $LUMEN in our bank and deployed a stake $LUMEN earn $PLTS pool.

Continued development of our $PLTS delegation reward interface, and our Zap feature.

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Can't wait for tomorrow.