KONOMI NETWORK
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KONOMI NETWORK

Konomi BNB Chain Staking Guide

Konomi Network is proud to launch its staking program on BNB Chain. We know many in our community have been eagerly awaiting our launch of staking rewards over at the BNB chain. We can announce that the wait is finally over, as we are ready to open the first staking pools over at Konomi.

The early bird gets the worm, so don’t hesitate and start earning from Konomi’s BNB Chain staking program now. Here we’ll go over a step-by-step guide to join the program.

Staking Guide

We’ll be using Metamask for the guide and to connect to the Konomi Platform:
Connect wallet: Swap.Konomi.tech

Step 1 — Switch to BNB Chain

First on MetaMask’s list of networks, switch to BNB Chain when accessing Konomi. If you accessed our platform while connected to Ethereum, then just go to the top right, click on the ‘Select a Network’ menu and switch to BNB Chain.

If your MetaMask doesn’t have BNB Chain, follow this tutorial from Binance Academy.

Step 2 — Head Over to the ‘Farm’ Tab

Now, go over the ‘Farm’ tab at the top of the Konomi Platform to see the available pools. Make sure the switch menu labelled ‘Farming’ is on the ‘Live’ option. That way the platform will only show the pools currently open.

Step 3 — Deposit LP tokens

Choose the Farm pool you want to participate in and click on the ‘+’ sign to deposit the LP tokens. This will open a submenu asking you to input the amount you wish to provide:

Once you have chosen an amount, select the ‘Approve’ button. MetaMask will open asking you to confirm the transaction. That’s it! Now you are earning passive income while participating in the DeFi revolution using Konomi Network.

Check on the state of your investments periodically and click on ‘Harvest’ to collect your rewards.

Keep in Mind

A few things to keep in mind:

  1. In order to participate in a staking pool first, you need to provide liquidity to the corresponding pool. Liquidity Pool (LP) tokens are given to those users who add funds, those are the tokens you need to start staking. Click on the ‘Liquidity’ tab and add liquidity to the pool you want to begin staking.
  2. To bridge your $KONO from Ethereum into BNB Chain use the Multichain Bridge. Here is a complete guide to use it: Kono Cross-chain Bridge User Guide.
  3. Finally, here are the smart contracts for both $KONO on Ethereum and BNB Chain:

ERC20 Kono contract: 0x850aAB69f0e0171A9a49dB8BE3E71351c8247Df4

BEP20 Kono contract: 0xe22b9152914986E4020a00ab6Ef510085C26C208

Konomi Network keeps expanding its services across the entire DeFi Industry. Now we are live on the BNB Chain with our liquidity pools and farming rewards. Users will not only be able to accumulate rewards from providing liquidity, but also from using their LP tokens to get even a higher return. Join now and grow your investments!

About Konomi Network

Konomi is a full suite asset management solution for cross-chain crypto assets. Using Substrate as the development framework, the network aims to support more assets in the Polkadot ecosystem. Users could manage their crypto holding positions, trade assets and earn interest through decentralised money market products. Konomi also issues its native network token in order to kick start liquidity and decentralised governance.

Contact Konomi Network:

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Konomi is a decentralized money market protocol built using Polkadot’s Substrate.

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KONOMI

KONOMI

decentralised money market on Polkadot

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