The Technical Design of KONOMI
Published in
2 min readNov 30, 2020
KONOMI is an open platform for cross-chain financial applications. Using Substrate as the development framework, the network aims to provide money markets for assets in the Polkadot ecosystem. Users could borrow and lend assets, trade and access liquidity products for DOTs through the protocol.
The technical design of Konomi included five modules:
- Asset Module: Multi-asset to be used in AMM and Lending Module.
- AMM Module: Uniswap like 50–50 swap pools that user can swap, add liquidity and remove liquidity.
- Pool Lending Module: This is the key and unique module Konomi is going to build. This module enables users to get access to a variety of supported pools. They may deposit collaterals into these pools and gain lending interest. If they have enough collaterals, they may also borrow other assets with some interest fees. Price feeds (by off-chain worker) will ensure that the debts are in healthy condition, otherwise a liquidation process is triggered.
- Governance Module: DAO to change parameters of the above modules.
- Price Oracle Module: Price feed of the supported assets to keep the system in a healthy status.
