This week, Harmony is breaking down credit barriers for ONE token-holders by listing $ONE- our native cryptocurrency on Constant, a P2P lending platform.

By using Constant to unlock the value of our assets, $ONE holders can leverage their tokens through a secure system that isn’t weighed down by the lengthy background checks institutions use to approve loans.

“Many borrowers can’t get a loan from traditional lending institutions because they slip through the cracks of credit scoring systems,” said Constant founder Duy Huynh. “With Constant, however, borrowers are approved much faster, and without the invasive credit evaluations of other P2P platforms. All they need is ONE to put up as collateral.”

“Peer to peer lending is a way to bridge the credit gap — The biggest challenge for peer-to-peer brands is trust- hence we are excited for the real-world applications of blockchain technology, which allows unknown to each other parties to cooperate in a trustful environment. Peer to peer lending is part of the sharing economy, where you can share your money with others and make wealth in this process. A whole world of new financial opportunities is launched without backing by large bureaucratic institutions — which overcharge borrowers while advocating for zero interest rates constituting fiat money a bad investment. We are excited to be part of the exponential growth the peer to peer economy is facing. Our world is highly disrupted in an exponentially rapid digital transformation.” said Nikos Kostopoulos Harmony’s Community Developer.

Constant accomplishes real peer to peer lending through over-collateralization. Borrowers must put up 150% of their loan amount in cryptocurrency collateral. It is then held in an escrow and returned upon repayment. In the case of default, it is liquidated to cover the investor’s principal and earned profit.

“Through this partnership, we hope to help bring value to the ONE community by giving coin holders the option to unlock the buying power of their assets,” said Huynh. “Whether it’s for margin trading or simply covering some repairs around the house, you can get the cash you need without selling up.”

Harmony ONE is a mineable BEP2 proof of stake (PoS) currency with 20% of its 12.6 billion tokens currently available for trade. It was created to right the wrongs of older blockchains like Ethereum and Bitcoin. As networks have expanded, many classic platforms have slowed down and gas prices have gone up, but Harmony aims to solve this.

Rather than waiting for the entire blockchain to vote on transactions, voters are placed in randomized groups (called shards) based on the number of coins they stake. This way, holders vote in a system where single shards can securely approve transactions, vastly increasing the scalability of the network.

Just as Harmony is intent on improving the first-generation blockchains, Constant is also working to set a new standard for accessibility, flexibility, and ease in the P2P lending industry. Constant has matched over US$3,000,000 in loan volume since May 2019, and attributes its success to the flexibility it provides customers, including the support of 60+ cryptocurrencies.

About Harmony

Harmony is a California-based 2018 startup with a goal to deliver scalability and decentralization to the blockchain. Harmony believes the promise of blockchain is to enable decentralized coordination at scale, but no platform has yet been able to achieve both. With its new shard-based solution Harmony hopes to finally find the solution to a fast, secure, and decentralized blockchain.

About Constant

Headquartered in California, Constant is an alternative financial services platform designed to strip out the inefficiencies of the traditional banking industry and help people get more out of their money. Constant was founded by a team of scientists, economists, engineers, and designers, fully devoted to the mission of building simple, elegant financial tools for an increasingly interconnected world.

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