Have you ever used the Harmony blockchain? If not, you are definitely doing yourself a disservice. Harmony is an Ethereum Virtual Machine compatible blockchain with 2 second transaction finality and Proof of Stake. Transactions cost less than a penny and assets can be bridge from Ethereum, Binance Smart Chain, or even Polygon. I have been using it for a couple years for various things like staking and yield farming. Let me just say... This is what Ethereum user experience should be like. Hopefully with Ethereum 2.0 coming out in the next couple years you'll be able to transact like this without being rich.
OpenSwap is a decentralized exchange on Harmony that allows users to swap, provide liquidity, and yield farm. It supports assets bridged from Binance Smart Chain and Ethereum for trading and liquidity. I just recently played around with OpenSwap and MochiSwap, which I will do a post on later probably. OpenSwap definitely peaked my interest for a couple reasons. Number one is the yield farming pools.
So I wrote a post about yield farming on Harmony not too long ago here that shows you how to get started. As you can see there are quite a few farms active with more surely to come. One thing you will notice is the low liquidity. This can be both a good thing, and a bad thing. You can have a bigger share of the liquidity pool but there will be less fees because there is low trading volume so you have to pick one that makes the most sense to you.
The simple response is: gas fees. Gas fees on Ethereum will make your head hurt and gas fees on BSC are better, but still pretty steep. Harmony's feels are usually less than 0.001 ONE which is less than a penny. Transactions take less than 2 seconds, and the chain is gaining more and more users every day. There is a very strong community around Harmony and with more users comes more demand. With more demand, higher token prices. I'm not a financial advisor though so you decide. Do you want to kill your gains with fees?
Thanks for reading.
Peace.
