Road to Mainnet: Konomi Network’s Development Progress Report
Konomi Network would like to thank every user for their support throughout the year and wish you all an early Merry Christmas! We are pleased to announce that Konomi Network will officially deploy our self-developed Multichain Oracle to Ethereum on December 29th. This step will also mark the launch of our Multichain Oracle. At the same time, we will take this opportunity to present to the community the development plan from now until the first quarter of next year.
After an in-depth discussion with the institutions and an internal review, we have decided to postpone our participation in the Polkadot Parachain Auction, which has been a major concern for our community. It was difficult for the team to make this decision, but due to the current high price of the parachain auction and the fact that we need to focus on the Oracle Machine mainnet launch in the short term, we have decided to change our original plan and postpone our participation in the parachain auction for now. It is important to note that the delay in participation will not have any impact on our product launch or user experience.
On the Oracle side, after the internal testing phase, our Oracle can now support Ethereum, BSC, Moonriver, Matic cross-chain feeds in addition to a number of unique features, including on-chain token price subscriptions and push notifications; users can initiate token proposal through staking and decentralised validator audit; users can also subscribe to Oracle services in the form of bonds by minting NFT.
We will start the final stage of our testnet from 21 December to 27 December. This test will be open to all users of the community and will include community proposals and decentralised validation which were not available last round. The selection process for decentralised validators has already begun.
On 29 December, we will deploy Oracle to the Ethereum mainnet, where it will be available to feed all tokens on Ethereum. We will also officially launch the NFT Bond subscription feature on the same day, allowing users to freely mint and trade NFT Bonds. After which, we will deploy the Oracle machine to BSC, Moonriver, Moonbeam and Matic chains successively between January and February, at the rate of fortnightly spanning Kono to the corresponding chains via the cross-chain bridge.
Finally, we will also be updating the Kono staking contract, the P2P lending testnet, and the validator contract with staking, rewards and penalties in the first quarter of next year.
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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