Konomi Network’s Crowdloan Strategy
(1) Konomi will participate in the Polkadot Parachain slot auction starting from Batch 2. According to Polkadot official news, Batch 2 Parachain slot auction will officially start from 23 December 2021 onwards.
(2) Total reward pool: 30M Kono (30% of Kono’s total supply), of which 1M Kono will be distributed equally to early bird contributors according to their contributions (this part of the prize will be released immediately), 4M will be distributed equally to contributors who contribute more than 10,000 DOTs, 25M will be distributed equally to all contributors according to their contributions (25% of this part of the prize will be released immediately, and the rest will be released linearly within 24 months).
(3) Crowdloan maximum: 4,000,000 DOT
(4) Konomi will start the Crowdloan campaign from Batch 2 (23 December 2021). Early bird contributors are defined as the first batch of 2,000 users who participate in the crowdloan and contribute more than 100 DOTs. To increase the probability of Konomi getting a Parachain, the Parachain will be leased for a period of 2 years.
(5) The top 500 contributors (contribution > 1000 DOT) will receive a special reward after the settlement.
(6) Below is the calculation method for any user to receive Kono incentive:
(Total amount of Kono incentive / Total amount of DOT contribution) * Number of individual DOT contribution
If the maximum amount is reached, each user will receive 6.25 Kono as incentive, and more tokens will be given if the maximum amount is not reached. Except for the early bird incentive, 25% of the token incentive will be released immediately, and the rest will be released linearly over a 24-month period, meaning that every time a block is released, a certain percentage of Kono will be unlocked and users can withdraw it at any time.
Eg: Jack as an early bird contributor supported Konomi with 1000 DOT. The early bird contributors raised a total of 1,000,000 DOT, and a total of 3,000,000 DOT altogether at the end of the round. Then Jack will receive a total of:
(1,000,000/1,000,000)*1000+(25,000,000/300,000)*1000=1000+8333=9333 Kono reward
Of which 1000+8333*25%=3083 Kono will be released immediately, the rest of the rewards will be released linearly in 24 months.
Note: Konomi will adjust the strategy based on the Batch 1 auction results and make new announcements to the community via social media. Konomi reserves the right of final interpretation to this event.
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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