Kokoa’s Vision & Roadmap
How KSD Will Expand Its Realm
Vision statement
1. To build the foundation of the Klaytn DeFi ecosystem
We strongly believe that stablecoins are fundamental building blocks of DeFi as a medium of exchange. However, the Klaytn DeFi ecosystem currently relies heavily on non-native stablecoins such as oUSDT, kDAI, and oUSDC, which have originated from other chains and are imported via bridges. This not only constrains the growth of the Klaytn ecosystem but also poses serious single-point-of-failure risks to the entire Klaytn ecosystem(e.g. Bridge hack).
Therefore, Kokoa will build the foundation of the Klaytn ecosystem through the issuance and distribution of KSD(Kokoa Stable Dollar). Furthermore, in the mid to long term, we envision a multi-chain KSD that has become an important pillar of the multi-chain DeFi ecosystem.
2. To provide a comprehensive financial service using DeFi “Money Lego”s
Kokoa has successfully expanded its service from the supply of KSD vault to yield-farming, Lever-easy, stable-swap (Former i4i, which is going to be rebranded as Kokonut Swap soon), and Crypto pool. Kokoa will eventually provide an end-to-end financial service in the DeFi ecosystem by adding various services such as synthetic assets — specifically, perpetual swaps — and real-world asset liquidity. Moreover, Kokoa will lead the development of Money Lego in the DeFi ecosystem through an active partnership with other protocols to contribute to the entire crypto world.
3. To provide accessible and easy-to-use DeFi service for everyone
Kokoa Finance will create an accessible protocol that effectively levels the economic playing field for everyone. We will lower the entry barriers to financial services currently inaccessible to many people in TradFi such as loans, futures, and derivatives, with easy-to-use functionality. Kokoa will focus on user-friendly services and listen to users’ opinions to enhance our service quality.
Roadmap
01. Synthetic Asset
As we announced through several medium posts, the team is focusing on expanding the utility of KSD, and the current top priority is the launch of the Synthetic Assets — specifically, Perpetual Swap Contracts — service, based on the KSD collateral vault. Users can deposit KSD to mint perpetual assets such as pBTC, and investors can create leveraged long/short positions using this synthetic asset. Through this service, KSD’s utility will be widened while also increasing the protocol’s trading fee revenue that will be directed back to governance token holders.
02. Multi-chain
Thanks to the strong support from our community members and partnerships, Kokoa has secured KSD’s price stability to become the #1 native stablecoin on the Klaytn network. Our next step is to expand KSD’s presence across multiple chains and secure its scalability. Currently, we are discussing several bridge protocols about how KSD will be exported to other chains and used, such as yield-farming. In the mid-to-long term, we aim to expand the KSD market cap by accepting various collateral from other chains just as MakerDAO and QiDao have expanded. Further plans will be announced as cross-chain partnership discussions are finalized.
03. Governance
Last not but least, the introduction of a DAO governance system has been and always will continue to be on our top priority list. Until now, KokoaFarm Labs have focused mainly on increasing KSD stability and its trading efficiency through Kokonut Swap(Former i4i swap), but once on track, the governance system will be the 1st priority for the protocol. However, the transition should be conducted with great caution and delicacy to give real value to the community beyond just claiming that “we adopted the voting function for the community”. After the launch of the next perpetual feature, specific details of the transition to DAO governance will be laid down step by step to maximize the value accrued to governance token holders.
Keep you posted, seat tight, and enjoy the journey with Kokoa.
Website: https://kokoa.finance
Telegram (KR): t.me/KokoaFinance
Telegram (Global) t.me/KokoaFinanceGlobal
Twitter: https://twitter.com/KokoaFinance
Medium: https://medium.com/kokoa-finance
