Meet VenomDAO: The DeFi Protocol Building Liquidity For A Multi-Chain World

VenomDAO has been bringing liquidity to the Harmony ecosystem since its launch. It has continued on this path with a number of products that allow users of the network to take advantage of its unique opportunities. It played an important role in ushering DeFi users into the Harmony ecosystem and its liquidity infrastructure is being applied across multiple blockchains. As the one-year anniversary of the protocol draws close, VenomDAO has continued to provide a much-needed service to the Harmony community. From the launch of ViperSwap, the first AMM/DEX offering incentives and populating yield farming, to CobraSwap on BSC, its first multi-chain expansion, VenomDAO has solidified its place as a thought leader on Harmony. But what’s next? VenomDAO Launches Comfy Money Comfy Money is the latest in a long line of products that have been released by VenomDAO. This new product features an algorithmic stablecoin that will be pegged to $ONE. It is a multi-token protocol which means that there is more than one token operating on the platform. Comfy Money features three tokens including $COMFY, $CSHARE, and $CBOND. As for the underlying mechanisms, they will systemically adjust $COMFY’s supply to move its price in accordance with that of $ONE, making it a stable peg. Comfy Money will act as an incentive for Harmony users to stake more of their $ONE tokens to act as validators to maintain and secure the blockchain. $COMFY which is a 1:1 p...