The Konomi Oracle will be paid for in the form of a free Oracle usage along with the purchase of an NFT. To enjoy our free Oracle service, users can simply purchase the original Bond NFT from our website. The Konomi Bond NFT is the first bond product from Konomi that allows users to collect and trade the NFT in the secondary market and to enjoy the economic value of the bond as if it were a traditional bond.
For example, if Jack decides to use Konomi Oracle today, he will need to fill in the Konomi Oracle application with the Cash Flow of his customized Bond NFT, as well as the face value and the duration of usage. Each Bond NFT will have a unique code similar to that of a treasury bond and will be marked with the bond’s interest payment date, amount of interest paid, etc. Currently, the parameters are Cash Flow>=0kono, Face Value>=12000kono, t>=12 and y=30% (the values will vary with market fluctuations). Now, assuming that Jack fills in a C of 100kono, an F of 15,000kono and a t of 15 months, the following equation gives Pv, the initial price of the bond, as = 10821.72Kono.
y =yield to maturity(3%)
C=cash flow(>=0)
F=face value>Cost
For 15 months within the purchase period, Jack will receive a monthly bonus of 100 Kono for the first 14 months and a final bonus of 12,100 Kono at the 15th month, in addition to the Oracle service. Jack, the initial owner of the bond, can sell the NFT at any time in the secondary market at any price, after which Jack will still have access to the Oracle but the rewards generated by the NFT will be transferred to the existing holder of the NFT.
Konomi will set aside 75% of the proceeds from the sale of the Bond NFT to pay bond holders, the remaining 20% will be used as a decentralised Oracle governance reserve to pay validators and the remaining 5% to reward the development team.
About Konomi
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.
Stay in touch with us through:
Website: https://www.konomi.network/
Twitter: https://twitter.com/KonomiNetwork
Telegram: https://t.me/konominetwork
Telegram Announcements: https://t.me/konominetworkchannel
Telegram (Vietnam): https://t.me/konominetwork_vn
Reddit: https://www.reddit.com/r/KonomiNetwork/
