We’re delighted to introduce our latest partner Konomi, a protocol for decentralized liquidity and money markets that facilitates cross-chain asset management.
Konomi, named after the Japanese word for ‘choice’, aims to live true to its name by always offering its users unique options not yet available on the market. Built on a Substrate-based blockchain, its money markets will allow users to utilize Polkadot-native assets to back their borrowing, and vice versa. This enables projects vying for a parachain slot to collateralize their native tokens to borrow DOT, which can then be used to finance their parachain bid. In addition to this, Konomi has launched its own third-party oracle service, which is derived from the integration of Chainlink oracles into its platform.
Utilizing Pinknode’s Choice Infrastructure
Konomi has partnered with Pinknode as their key provider of infrastructural solutions, providing Konomi users with highly secure API endpoints which will connect them to the different networks on Polkadot. Pinknode will also be participating as a collator node, further decentralizing and enhancing security for Konomi’s network. In time to come, both partners will explore the possibility of joint cross-chain message passing (XCMP) experimentation.
“We’re certainly looking forward to setting up our lending pool on Konomi which will enable us to offer these crypto-asset solutions to the Pinknode community. Essentially both projects will be fortified by each other’s infrastructure, and I’m certainly anticipating the fruition of this partnership.”
-Eric Poh, Co-Founder of Pinknode
Maximizing PNODE Liquidity with Konomi’s Lending Module
In return, the Konomi lending module will grant Pinknode priority in creating its own pool to increase the liquidity of PNODE. This will enable users to borrow its native token for a variety of purposes, including trading and utilizing Pinknode’s API service. Additionally, Konomi Oracle will supply externally sourced price feeds and multiple liquidity aggregation strategies for PNODE.
“We have been constantly looking for high quality mode service providers. We believe Pinknode is the perfect partner for it and this collaboration will further enhance the performance of our platform and opens more possibilities with other projects in the ecosystem. We are definitely looking forward to the collaboration!”
-Jayden, co-founder of Konomi network
Pinknode is a Polkadot-specialised Infrastructure-as-a-Service provider with the goal of accelerating adoption and empowering innovators to build on the most promising Web 3.0 ecosystem. By providing API endpoints through a streamlined onboarding process and maintaining secure, reliable, and scalable node infrastructure, Pinknode helps innovators jumpstart development quickly and accelerates their product life cycles.