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The DeFi Chronicle: How and where I am using Harmony One
It wasn’t too long ago when I remember that doing a transaction on Avalanche was cheap. Today, I tried vaulting USDC on Avalanche’s Beefy Finance and it was going to cost me over $15 worth of AVAX in gas fees. As a sassy tween girl may say, “Thank you…Next.” Ariana Grande lyrics aside, I don’t like gas fees.
If you’ve seen my past few articles, I’ve been bitten by the OHM fork bug. It’s a situation where you see face-melting APYs and it’s just too hard to resist. I’ve been in Wonderland (TIME) on Avalanche, Xeus ((XEUS) on BSC, Hector Dao (HEC) on Fantom, and more recently Euphoria (WAGMI) and OneDao (ODAO) which are both on Harmony. My overall results have been good so far, but admittedly, I am not risking huge sums in any project.
Memories of fruitlessly chasing wild APY’s on degen yield farms have left me scarred, but I don’t want to completely miss out on this experiment. With all this said, I have a thesis that these projects may present more upside on chains like Fantom and Harmony which feature smaller ecosystems. Wonderland blew up on Avalanche and has 17,572 token holders at the time of writing.
I’d been meaning to check out Harmony and set up my Metamask wallet to be able to use the chain. Below is how I set up the RPC on my Metamask. Skip this if you already have your Metamask…
