Konomi Network Announces New Staking Campaign After Feedback Updates
The Konomi Staking testnet has proven to be a success after a week of testing, and the team has taken the feedback from the test into account to optimize the Staking front-end UI and back-end code. We are now planning to launch a new staking campaign at the end of March, which will run for 30 days with a total reward of 80,000 $KONO and will be available in both current (fixed interest rate) and fixed term modes.
The major highlight in this Staking campaign is that in addition to adding a fixed term model, it will also leave the annualized rate of fixed rate Staking up to the community to decide. The specific rules for this Staking are shown in the table below:
As shown in the table above, the team will be supporting the Staking campaign with a total reward of 80,000 $KONO, out of which a total reward of 20,000 $KONO for the current and 60,000 $KONO for the fixed term. The current annualized rate will be fixed at 20% and the fixed annualized rate will be offered for the community to vote on at 40%, 60% and 80%. The option with the most votes will be selected as the fixed annualized rate for this campaign. It is important to note that increasing the annualized rate will increase the yield of a single Kono but will reduce the total number of $KONO acceptable to the pool, resulting in a reduction in community participation. Therefore, there is no need to blindly pursue a high annualized rate when voting.
Konomi is a decentralized money market protocol built using Polkadot’s Substrate. Konomi is working to provide active money markets across the entirety of the Polkadot ecosystem, as well as expand and integrate into cross-chain networks. By introducing a fluid market for cross-chain crypto assets, Konomi hopes to provide an overall better user experience that is accessible regardless of the native network the end user prefers.
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