Konomi Network Announces Staking Mainnet Launch
Konomi’s Staking contract has officially passed the code audit and will be ready for mainnet testing at 8pm Singapore time, 25 February. The test will last for seven days and is designed to test the stability of the Staking contract and to allow more Kono holders to understand how to use our decentralised Staking contract to generate revenue. After this test, we will be launching Staking products with longer staking periods, bigger asset pools and more attractive rewards.
To encourage more users to participate in the test, the annual interest rate for the 7-day test will be 200%. At the same time, 30,000 Konos will be allocated as the total bonus for the test and will be distributed according to each user’s level of participation. Please note that the Staking pool will be capped at 771,428 Konos, with a minimum requirement of 1,000 Konos for each user and a maximum of 3,000 Konos reward for a single address. The reward will be on a “first come first serve” basis, i.e. once it’s all redeemed no more rewards will be credited and users can still withdraw the deposits.
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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