KONOMI NETWORK
Published in

KONOMI NETWORK

KONOMI Protocol User Guide

​​Konomi Lending User Manual (Ocean Master)

Step 1: Link your own decentralized wallet, enter the “Governance” page, then select “Oceans

Step 2: Click “New Proposal

Step 3: Select the desired currencies to be added to your own asset pool. Click “Next” after.

Step 4: Set the parameters for your own asset pool, including Close Factor, Liquidation Incentive, and Lease Period. Click “Next” to proceed.

Step 5: Enter the respective contract addresses for each currency. Then follow the instructions and key in the collateral settings and interest rate settings.

Step 6: Ensure that there’s sufficient $KONO in your wallet after completing all the settings. Click “Confirm”.

Step 7: Your asset pool is now at the validator voting stage. After the voting process, you can then become the Ocean Master of the pool.

Step 8: After approval, you will be able to see the new asset pool on the webpage.

Ocean Lending (User)

Step1: Link to wallet, then select “Ocean Lend

Step 2: Select your desired asset pool to lend or deposit your own token

Note: besides paying attention to the exchange rate, users should also pay attention to the information in the red boxes, and then select the asset pool that matches the user’s risk preferences.

Step 3:(For users who supply tokens)

Click “Supply”, key in the amount of tokens you want to supply. First time users need to select “Increase Allowance”. Click “Supply” again after the process is completed.

When users need to withdraw tokens, click “Supply”, select “Withdraw”, then key in the amount of token to be withdrawn. Finally, select “Withdraw” to complete the process.

Step 4: (For users who wants to borrow)

Click “Borrow” in the asset pool, first time users need to select “Confirm”. Confirm the collaterals supported in the asset pool and complete the process.

Refer to instructions in Step 3. After depositing collaterals into the asset pool, click “Borrow” to borrow your desired token.

Click “Repay” to pay back the tokens. Follow the instructions and key in the total amount to be repaid.
(First time users need to select “Increase Allowance” to complete the process)

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
KONOMI

KONOMI

decentralised money market on Polkadot