In this blog, we show you how to add Harmony One to MetaMask wallet. First, we talk a bit about what Harmony One is and what it does, etc. If you do not want to read about that and directly want to see how to add Harmony One to MetaMask. You can go down this page and start reading “Getting Harmony One on MetaMask”.
What is Harmony One
The Harmony One blockchain was founded in 2018 by Stephen Tse. Stephen has much experience as a software engineer. Having worked at companies like Apple and Google. Just as many other EVM cryptocurrencies, Harmony tries to focus on the points in the blockchain trilemma. Security, Scalability, and decentralization. But on top of that Harmony also tries to focus on a 4th point, Privacy. The Harmony blockchain has been completely built by its self. But does support an EVM so that it can connect to other smart chains. This network went officially live in June 2019. But in May 2020 the network also started letting users run validator nodes. The Harmony One blockchain works in many ways like Ethereum 2.0 will work. Meaning that the blockchain makes use of shards. Sharding basically means that the blockchain can be divided into multiple smaller chains. Because each of these shards can process up to 500 transactions per second. This leaves the blockchain with a TPS of 2000. But it can still increase as more shards are added to the blockchain.
Dapps on Harmony One
Harmony already offers support for more than 40 different Dapps and has a fast-growing ecosystem. Because of its EVM compatibility, Dapps can easily switch to Harmony if they want. Many Dapps like SushiSwap, Curve Finance, and Aave already have. But besides that Harmony One also has many native Dapps build on top of it. Dapps like, LMA art gallery, daVinci NFT marketplace, and many more.
The One Token works as the central token of the whole blockchain. This is because the Harmony One altcoin token is needed for things as paying transaction fees, deploying smart contracts, and on-chain governance. But only network validators can vote for governance proposals. So not just anyone holding the ONE token can vote. But even tho if you delegated your tokens to a validator you can delegate them to a validator that votes the way you want. So if you want to create a token on the Harmony One network and send that token. You do need the ONE token. But just like with Ethereum you can create many different types of tokens on the Harmony One blockchain. Because of the EVM that runs on Harmony token types like ERC-20, ERC-721 (Single issue NFT), ERC-1155 (NFT’s) can also exist on Harmony. But here they have a little different name. They translate to HRC-20, HRC-721, and HRC-1155. Their function is basically the same. But then on the Harmony One blockchain. One thing that is good to note about the Harmony token is that has an inflation rate of about 3% per year. But this can be suppressed by its token burn. Because all the One tokens paid for transaction fees on the chain are burned automatically. This makes it so that the chain can reduce its inflation. But has a mechanism build-in so that it will not become deflationary.
Staking on Harmony One
To stake on the Harmony One blockchain you will first need some ONE tokens. These tokens can be bought on many crypto exchanges like Binance, Huobi Global, HitBTC, Kucoin, and many more. Now, if you want to run a complete Harmony One validator node. You will need to have at least 10,000 ONE tokens. But if this is too much for you. You can also start as a delegator. Because a delegator only needs 1000 ONE tokens. Which is still an affordable amount in dollars at the time of writing. Running a validator node or delegating ONE tokens comes with some benefits. Because validators can earn around 10% interest on their stake and delegators can also earn about 10%.
Briding to Harmony
Much of the traffic that came to Harmony came to the chain via the Horizen Bridge. Because many of the tokens that came to Harmony were originally BEP-20 tokens from BSC. This is one of the interchain bridges that can move tokens from an EVM blockchain to Harmony. In this case from Binance Smart Chain to Harmony One. If you want to move tokens from an EVM chain like BSC to Harmony One you will need a bridge. Because if you don’t you will just send your tokens to another address on the chain you were on before. So make sure you use a bridge if you plan on moving tokens interchain. If you do not, you will most likely lose your funds. Which no one wants of course.
Smart Contracts on Harmony
Harmony has seen a quick rise in the number of contracts deployed on its chain. From a few hundreds of tokens, it went to multiple thousands, and it still grows. Because of the simple Ethereum Virtual Machine. This makes it so that contracts and tokens alike can switch to the chain in a matter of minutes. For many Dapps that run into problems on other chains, this can be a quick and easy solution. On top of that for many tokens, there is no reason to not bridge to the chain. So to change their ERC-20 token to an HRC-20 token. Because having their token on multiple chains lets them participate in multiple ecosystems, which can increase the value of a token or NFT.
Wallets that support Harmony One
Not only does Harmony have many wallets and exchanges that support the blockchain. It also has its own Harmony One wallet chrome extension. This wallet extension lets users do anything Harmony blockchain-related and has seen a very fast user adoption. But most of the users of the chain probably still use the Metamask wallet as it can integrate with Harmony One, as we will demonstrate below. Wallets like Metamask that can add custom EVM’s all can support Harmony One. Because of this many wallets already had this option from the start. Giving Harmony access to many wallets since its launch. These wallets need to get data from a Harmony One explorer to see balances on-chain. For this reason, we have listed all the Harmony One web wallets, desktop wallets, Mobile wallets, and Hardware wallets, on our Harmony wallets page. Lots of these Harmony One wallets can be used for staking the One token. If you need some One tokens, you can filter for “buy crypto” & “Harmony” to find all places like Coinbase and Binance where you can buy Harmony One tokens. But do notice that the price of these tokens can swing depending on many things like Harmony One news, or tweets posted on the Harmony One Twitter, etc. To see the live price for Harmony One tokens you can check the Harmony One CoinGecko or CoinmarketCap page. So you can make your own Harmony One price predictions. But do note that nothing here is financial advice and that only you can make your own financial decisions. Now that you are more educated, are you ready to start learning “how to add Harmony One to Metamask wallet”? So you can use your have your own Harmony One wallet. Let’s see how to add Harmony One to Metamask wallet”
Getting Harmony One on MetaMask
So to add the Harmony One to MetaMask you have to open the MetaMask wallet (In case you don’t have MetaMask yet, please get it on this page). Once you have MetaMask installed, open it up on the full screen. So you will have the same screen as in our example here.
Now go to the top right of the screen where it says “Ethereum Mainnet” and click on the little arrow pointing down next to it. This opens the network’s tap where you can select all different types of EVM blockchains (Ethereum virtual machine) networks. Now here you can click on the Custom RPC to add a new custom EVM blockchain network of your choice. In this case, the Harmony One.
Now Metamask will ask you for the data needed to connect the wallet to the Harmony One. Please fill in the list below.
Network Name - Harmony One
RPC URL Harmony One - https://api.harmony.one
Harmony One Chain ID - 1666600000
Symbol - ONE
Block Explorer URL - https://explorer.harmony.one
When you have done this, you can just click save. And now you have added the Harmony One to your MetaMask wallet.
If you would like to switch between the EVM blockchains. Simply click on the Network button in the top right of the screen to select another blockchain.
Because adding different types of EVM blockchains works the same, you can add any EVM blockchain in the same way. But instead of the list given in this blog, you replace that with another network’s ChainID, symbol, etc.
We hope this blog post helped you to integrate a new EVM into your MetaMask crypto wallet. So that you can now use Harmony One as much as you want.
Find your wallet here
In case you want to see all the other wallets supporting Harmony One. You can simply take a look here to filter between all wallets that do!
So we hope this article taught you more about how to add Harmony One to MetaMask wallet. But in case you have Questions regarding Harmony or Ethereum? Feel free to ask them on our online Facebook or Telegram groups. Because we are happy to help whenever we can!