Konomi Network can be a familiar name with the many Vietnamese crypto players. This is due to Konomi being really active in organizing different social activities to recruit and engage with the Vietnamese community.
Besides that, Konomi is also known for being the one-stop financial application in one of the most promising blockchains – Polkadot. So, what is Konomi Network, and is it a good investment? Let’s find out in this article.
What is Konomi Network?
Konomi Network is a decentralized money market protocol on Polkadot. Using the Substrate framework, Konomi acts as an assets management solution for all assets deployed on the Polkadot parachain.
With Konomi, users can do almost everything with their assets from trading, lending, using derivatives to tracking portfolios effectively. Ultimately, Konomi aims to offer one-stop experience in asset management in the DOT ecosystem.
How does Konomi Network work?
As mentioned before, Konomi is designed to offers users comprehensive financial services on Polkadot:
Konomi Trade: Konomi Trade allows users to access liquidity for assets in the Polkadot ecosystem. It uses the AMM model like Uniswap and allows uses to conduct immediate on-chain transactions/
Konomi Lend: Being built on Polkadot, Konomi Lend has a comparative advantage over some mainstream lending protocols on Ethereum: lower transaction fees, liquidation penalties, collateral ratios, and liquidation thresholds.
In the most recent update from Konomi, Konomi Wallet will be removed from the development roadmap as this feature has been supported by Konomi partners. Instead, Konomi has announced 2 new products:
Multichain Oracle: Konomi developed its own oracle, which can be deployed by multiple chains (Polkadot, KSM, Polygon, Ethereum, and BSC). However, the core incentive for the team to build their own oracle is to enable the launch of their P2P Lending product.
P2P Lending: It offers users full control of their yield earning. Anyone can create their own lending pool, set the interest rate, maturity, collateral liquidation rates, and collateral assets. Therefore, Oracle is needed to provide the price for the custom lending pool.
What is a KONO token?
KONO token is the native token of Kono Network. It is issued to facilitate decentralized governance and attract early users to the platform.
Detailed information about KONO token
KONO Key Metrics
- Token Name: Kono Network.
- Ticker: KONO.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Contract: 0x850aab69f0e0171a9a49db8be3e71351c8247df4
- Token type: Utility, Governance.
- Total Supply: 100,000,000 KONO.
- Circulating Supply: 29,689,113 KONO.
KONO Token Allocation
KONO Token Sales
Konomi successfully closed 3 rounds of investment at $5M and IDO public sales on Polkastater at $200,000.
KONO Release Schedule
- Private Sale: Depends on each round.
- Public Sale: 100% TGE.
- Marketing: Vesting for 12 months.
- Team & Advisor: Cliff for 12 months, vesting for 24 months.
- Ecosystem: Cliff for 12 months vesting for 24 months (depends on Parachain offering schedule).
- Platform incentive: Vesting for 18 months.
- Reserve: Cliff for 24 months, vesting for 24 months.
KONO Token Use Cases
Decentralized governance: KONO holders have the right to vote on protocol design and implementation. Voting will be conducted to determine the interest rate model, collateral ratio, collateral types,…
User incentives: KONO tokens are used to encourage people to add liquidity and use Konomi Network products.
Asset staking: Users can stake KONO to participate in the base layer consensus and earn rewards. It is also staked to claim share protocol revenue and ensure the safety of the debt position.
How to get KONO token
At the moment, you can get KONO tokens from the following exchanges:
- DEXs: Uniswap.
- CEXs: Gate, KuCoin, MXC, OKEx.
How to buy KONO token
You can buy KONO on Coin98 Exchange by clicking the swap button at the bottom of this article and following these steps:
Step 1: Connect Coin98 Extension Wallet.
Step 2: Select Uniswap.
Step 3: Choose coins/tokens for trading:
- Search KONO.
- If the result does not come up, you can paste the contract of KONO into the search box: 0x850aab69f0e0171a9a49db8be3e71351c8247df4.
Step 4: Adjust the amount you want to swap.
Step 5: Adjust the gas fee, then click Approve.
How to store KONO token
You can store KONO on Coin98 Wallet by following these steps:
Step 1: At the main screen of Coin98 Wallet, click Receive.
Step 2: Search for KONO token.
Step 4: Copy your KONO wallet address and send KONO tokens to this address.
Konomi Network Roadmap
Notably, Konomi Network mainnet will be launched in the 4th Quarter, 2021.
Team, Investors, and Partners
- Ariel Ho (Founder): 7 years entrepreneur experience in tech startups, founder of High Mall IndoorNavigation, an indoor navigation solution.
- Shengmu Liu (CTO): 5 years entrepreneur experience in tech startups, used to work as data analyst at Shopee and software engineer at a healthcare startup.
- Jayden Antonio (COO): 8 years entrepreneur experience in tech startups, founder of multiple tech startups including Mileslife Singapore and Wecharge.
- Yuqing Zhao (CMO): 7 years experience in social media advertising and community building.
Konomi Network is backed by: Amplifi, Blocksync, CMS, Crypto J, Double Peak, LD Capital, DFG, Dream Fund, BTX Capital, Coin98 Ventures, FBG Capital, Moonwhale, Titans Ventures, AU21 Capital, Genesis Block, Altonomy, Zonff Partners, 4 Seasons,…
Is Konomi Network (KONO) a good investment?
I hope that from all the mentioned information, you can get a basic understanding of Konomi Network to start researching more about this project. It is hard to tell firmly whether any project/ token is a good investment or not. However, I will provide you with some key highlights of Konomi Network so that you can do your own research and make your own investment decisions.
- Konomi has built a strong relationship with the community by being extremely active on its channels, updating the progress as well as having multiple events, creating a trustworthy and reliable image among its users.
- Konomi Network is built on Polkadot, a blockchain with high scalability. Being a protocol that provides seamless financial applications for any token available on the Polkadot parachain, Konomi Network will benefit directly from the expansion of the whole ecosystem. However, when Konomi Network will be implemented in Polkadot depends on the mainnet time of the ecosystem.
- Before officially being plugged on DOT parachains, Konomi will still launch its mainnet in the 4th quarter. This way, Konomi can acquire loyal users before launching on Polkadot.
Konomi Network still has many ambitious goals to work on. Besides building products, Konomi also emphasizes building a strong community to support the project. The mainnet will be released soon in the 4th Quarter and is expected to be a huge milestone for the project.
If you want to have more information about this project, feel free to comment down below. You can also join our community at Coin98 Community to discuss any topic that you are interested in.
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Posts “What Is Konomi Network (KONO)? All About KONO Token” posted by on 2023-09-29 13:21:20. Thank you for reading the article at www.atccoin.net