Oddz Collaborates With Konomi
Bringing Cross-Chain Liquidity on Oddz Platform
Oddz Finance is delighted to collaborate with Konomi Network — a decentralized money market protocol on Polkadot.
Snapshots:
- Konomi is deployed as an independent blockchain using the Substrate framework. It has been developed in a way that will support functions in trading, deposits and lending
- Oddz and Konomi have mutually agreed to collaborate and we are discussing different ways to manage users’ crypto holding positions, trade assets and earn interest through decentralized money market products.
- As Oddz is a multi-chain protocol and Konomi provides cross-chain liquidity, our vision is to give a one-stop insight to all users for dealing with their assets on the multiple chains that Oddz is built on.
Konomi is a decentralized liquidity and currency market convention for cross-chain crypto resources. Utilizing substrate as the improvement system, the organization aims to provide money markets for assets in the Polkadot Ecosystem.
We are excited to work with the Oddz team on improving yield earned and liquidity of both protocols. In addition, Oddz Token will be the first batch of tokens supported by Konomi Oracle. We are definitely looking forward to this partnership.
Jayden Antonio (COO), Konomi Network
Why collaborate with Konomi Network?
Cross-Chain Liquidity: Smart contract based liquidity protocols beginning with automated market makers. Users could connect decentralized wallets to the protocol and trade with prompt on-chain execution. As the platform is decentralized, users can exchange long-tail resources with no limitations.
Konomi Oracle: The whole idea of Konomi Oracle is to take the price off-chain and quote it on-chain, and Konomi Oracle will use a cluster to be entirely responsible for the price mechanism. This cluster will comprise multiple workers to ensure the availability of the service.
Improved Base Layer Performance: Contrasted and DeFi items dependent on the other platforms, Konomi offers a better blockchain foundation because of the base layer agreement, virtual machine and more versatile framework engineering.
Konomi Asset Management: Konomi is an open platform for deploying smart contracts in the Polkadot environment. Konomi provides a one-stop insight for clients to deal with their resources in the DOT ecosystem including trading, lending, derivatives and more.
Konomi Borrow and Lend: A decentralised money market protocol for users to borrow and lend assets. The protocol is pool-based and it would support assets on parachains. We are discussing different ways to have our users deposit assets to the lending pool and earn interest based on the demand side of the platform. Similarly, the protocol also supports over-collateralized debt positions for users that want to borrow assets.
Oddz and Konomi are discussing different ways to manage users’ crypto holding positions, trade assets and earn interest through decentralized money market products. As a multi-chain protocol, this partnership with Konomi will give a one-stop insight to all users for dealing with their assets on the multiple chains that Oddz is built on.
This partnership with Konomi will not only help our fellow Oddzians manage assets once we are live on the Polkadot network. Our partnership with Konomi is not restricted to improving liquidity on the protocol but also includes getting support from Konomi Oracle.
Looking forward to working with them!
Aishwarya Shivakumar Haroshivanahalli, Co-Founder and CEO, Oddz Finance
About Konomi Network
Konomi Network 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. Konomi aims to deliver a sustainable liquidity infrastructure for DeFi.
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About Oddz
Oddz is a multi-chain derivatives trading platform that allows users to create, maintain, execute and settle trustless option contracts, conditional token agreements, perpetual and futures contracts in a fast, secure, and flexible manner.
It employs the synergies of Ethereum, Binance Smart Chain, Polkadot, Polygon and Chromia to unleash the potential decentralized derivatives market. It focuses on building solutions that can propel the DeFi ecosystem by simplifying derivatives trading and enhancing the user experience.
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