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Konomi’s Community Governance Rules

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KONOMI

1.1 Introduction

The responsibility of Konomi’s community governance will be shared between the Kono holders and the governance committee. The governance protocol will allow the community to initiate proposals (including DeFi parameter changes, Oracle machine verification methods, P2P new currency launch, etc.), vote, and execute resolutions.

1.2 Kono

Kono is the only credential for Konomi community governance and will allow users to participate in community governance or authorize others to do so. The more the amount of Konos held at any address, the more valid votes there will be. In order to ensure fair voting process, the marginal utility of holding a Kono at the same address will diminish accordingly.

1.3 Authorisation

Any user can authorize a trusted address to exercise voting rights on his or her behalf, and the number of valid votes will be counted according to the different addresses. If the user transfers the Kono from the authorized address, the authorization will be automatically terminated.

1.4 Calculating valid votes

The formula for calculating the amount of Kono need to cast n valid votes at the same address is = (n²)/5

1.5 Self-governance proposal

Any address can initiate a self-governance proposal by punching 1000 Kono into a black hole address for destruction. The self-governance proposal will allow the initiator raise funds within seven days, and if the initiator can be authorized with more than 10000 Kono within the given time period, the self-governance proposal will become an official proposal.

1.6 Official proposal

Any address with 10,000 Kono or more can initiate a governance proposal. At the time of initiating the proposal, that address will have the option to stake the number of Kono for this proposal (a minimum of 10,000 will have 223.6 valid votes). After 3 days of community discussion and preliminary approval by the governance committee members, the proposal will then enter the voting process. Otherwise, the proposal will be cancelled.

1.7 Voting

The voting process will last for three days and any address holding a Kono will have the right to authorize or participate in the voting of all proposals (voting options are yes, no, or abstain), but their Kono will be locked for the duration of the voting and for 20 days after the proposal is passed (if the proposal is cancelled, the lock will be automatically lifted). At the end of the voting period, if the proposal reaches 1,500 valid votes and a majority of the votes cast are in favor of the proposal, the proposal will be approved for execution. Otherwise, the proposal will be cancelled.

1.8 Implementation of proposal

Any proposal that enters the implementation phase will be deployed to the Konomi protocol after 24 hours (if the proposal is more complex, the execution time will be extended accordingly).

1.9 Cancellation of proposal

A proposal can be cancelled any time before it enters the implementation phase. The cancellation decision will be initiated automatically if the prerequisites for moving on to the next phase are not met or can be initiated by the initiator of the proposal. After the cancellation decision is confirmed, all Kono staked to the proposal will be unlocked.

1.10 Transaction fee

A fee of 5 Kono will be charged for each vote or authorization. 30% of the total fee for each proposal will be used to cover network costs, 30% will be destroyed, and 30% will be returned as an incentive to a random 10% of the proposal participants and 10% to the incentive team.

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Source: https://konomi-network.medium.com/konomis-community-governance-rules-bd3a9dd5701e?source=rss——cryptocurrency-5

Blockchain

Open DeFi: Risk Management Notification Protocol by Binance, Orbs & Moonstake

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Finally available for DeFi investors from tomorrow onwards, the renowned Defi.org Accelerator – a Joint Venture project co-created by Orbs, Binance and Moonstake – proudly announces the launch of their chain-agnostic Risk Management Notification Protocol for mobile devices.

This unique Open DeFi Notification Protocol comes to life to allow investors and DeFi users to manage their operations in the decentralized finance universe reducing their loss risks to a minimum especially during market volatility.

Open DeFi: Helping DeFi Traders Reduce Risk

The Open DeFi Notification Protocol permits users to set up any number of alerts for different DeFi apps.

Orbs, the public blockchain platform, announced the launch of the Open DeFi Notification Protocol, a key application product especially created to assist users with unlimited free mobile notifications for impactful on-chain events.

This unique Open Notification Protocol was developed within the DeFi.org organization, co-created by the Orbs blockchain platform, Binance crypto exchange and Moonstake crypto wallet provider.

The Defi.org Accelerator was conceived primarily to develop further creative policies and the necessary tools towards the next level of innovation in decentralized finance, by providing liquidity, support and validation within the ever growing DeFi global ecosystem.

The recently announced Open DeFi Notification Protocol publicly available from tomorrow is basically an event-aggregator of contributions from community members that records significant events.

These events include smart contract creations and upgrades, blockchain governance votes, blockchain accumulated pending rewards, cryptocurrency price swings, prominent liquidations, stop losses, and more.

DeFi users like traders or liquidity providers, by accessing this type of data, can better manage their asset portfolios with superior tools to foresee and react to impactful events. The Open DeFi Notification Protocol allows a secure management by risk reduction, unarguably valuable in volatile market periods.

All DeFi projects can choose to differentiate themselves from competition by providing its customers with unlimited free mobile notifications of key sensitive information. All these Defi platforms need to do is integrate with Github for 30 minutes.

Orbs’ co-Founder Tal Kol describes the product in his own words,

“Transparency is a hallmark of blockchain, yet reliable mobile notifications that can aid the DeFi community are virtually nonexistent…our talented team has created a user-friendly protocol that functions almost like a reactive DeFi assistant, alerting users to the possibility of impending liquidations, significant price swings, contract upgrades and the like. We are positive it will make a huge impact.”

Initially the beta version of the Open DeFi Notification Protocol relies on a centralized node for tracking and display of the significant events recorded.

Orbs is working towards the launch of an updated improved version very soon that will rely on the decentralized Orbs network of independent nodes.

The beauty behind this announcement is that users will be able to set up an unlimited number of notifications linked to a variety of DeFiapplications, all of it integrated on a single open-source interfase comprising several dApps architecture frontends.

No previous registration is required, defi users will simply need to download the mobile app “DeFi Notifications” for iOS or Android and further scan their QR address in MetaMask (or the QR position in their app’s UI).

To make it even easier, in the Orbs’ official YouTube channel there is a tutorial video of this new DeFi Notification Protocol working with Sushi as an example.

Tal Kol added,

“The great thing about the Protocol is that it can work with emerging DeFi projects. All that’s required is the implementation of a simple JavaScript web3 class, to extract the notification from the on-chain data. This is then contributed via PR to the Protocol Github repo.”

Orbs Makes Connections Happen

The public blockchain platform Orbs was specifically designed to grant mass DeFi applications the integration with EVM-based L1 and L2 blockchains such as Ethereum, Binance Smart Chain (BSC), Polygon, Solana and Avalanche.

The decentralized Orbs protocol, powered by their ORBS native token, is operated by a public network of permissionless validators upon a PoS (proof-of-stake) consensus.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

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Source: https://blockonomi.com/open-defi/

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Blockchain

Nexo Offering 17% APY On Polkadot DOT Paid out Daily

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Nexo sees a bright future for Polkadot, and to celebrate, the exchange is offering an 17% APY rate on any DOT deposits until the end of November. It is extremely easy to earn a passive income with Nexo, as it allows its clients to buy tokens and earn high interest rates for holding them.

Polkadot’s ecosystem has been a hotbed of development in 2021, and there are loads of exciting new things coming. There are a few parachains that are in late-stage development, which will help the overall ecosystem grow.

DOT is also doing well. DOT is the primary token on Polkadot, and it recently shot past the $40 USD mark in global trading. DOT offers some very interesting features for its users and developers, and it looks like the market is starting to reward Polkadot’s potential.

Earning Passive Income With Nexo

If you already have some DOT – all you have to do is deposit it in your Nexo account. If you don’t already have DOT, and you want to participate in this amazing offer, you can buy DOT directly from the Nexo platform.

Nexo states,

If you’re eager to get in on our limited offer, the fastest way to add Polkadot to your account is by buying straight from the Nexo Exchange. Here’s how:

  1. Log in to your Nexo account and go to the Exchange tab.
  2. Select your payment method: buy instantly with a credit/debit card or swap crypto and stablecoins already in your account.
  3. Select DOT as the currency you’d like to receive and confirm your order.

An interest rate that is above 15% is incredible in a global economy where many government bonds actually trade with a negative yield.

Almost every government bond is a money losing proposition when inflation is taken into account, as people are paying more for goods and services all the time.

One would think that a 12% p.a. interest rate would be enticing enough, but Nexo gives its clients even more ways to boost earning.

According to Nexo,

As with all Nexo’s Earn Crypto Interest services, you get great base rates, but you can also boost your earnings by holding NEXO Tokens and choosing to receive your rewards in NEXO. To ensure your earning is optimized, check out this breakdown of our yields on Polkadot for each Loyalty tier and manage your DOT and NEXO in the most efficient way for you:

  • Platinum: Маximum rate – 17%. Standard rate – 14%.

  • Gold: Маximum rate – 16%. Standard rate – 13%.

  • Silver: Маximum rate – 15.25%. Standard rate – 12.25%.

  • Base: Маximum rate – 15%. Standard rate – 12%.

No Market For Old Investors

Nexo is offering its clients an amazing opportunity to earn passive income in a market that offers few other options for passive income. With cryptos and Nexo, investors can gain double digit interest rates, and watch as the tokens themselves grow in value.

In addition to offering market smashing yields, Nexo also gives investors to use their tokens as collateral for loans, and swap them for other tokens as well.

It is very easy to see how Nexo, and platforms like it, will lead the next generation of capital markets. Investors are tired of being pushed around by central bank policy, and watching as their passive income streams dry up.

With cryptos, there are no central planners that can crunch interest rates to the floor, and reward embedded interests with massive amounts of free money. It simply can’t be done in the world of cryptos.

If you are interested in how you can join Nexo, and take part in any of its great programs, please click right here. It offers great interest rates on many of the major tokens, and in addition to the passive income, tokens offer price appreciation.

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Source: https://blockonomi.com/nexo-polkadot/

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Blockchain

CoinZoom Adds Tron & TRC20 Tether for Trading & Yields

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CoinZoom, the well-established cryptocurrency exchange, just announced that it is adding both Tron and a TRC20 version of Tether to its exchange. Both of these tokens will be fully tradable, and also offer great yields.

In addition to trading in more than 40 cryptos, CoinZoom also offers its clients the ability to gain from their tokens with industry-beating yields, and also to spend cryptos with the CoinZoom Visa card.

CoinZoom

CoinZoom offers its clients access to a wide rangeof tokens with low trading fees. Tron is one of the most interesting blockchain projects in the industry. Its founder, Justin Sun, saw that Proof-of-Work systems would be a major limit to scaling a blockchain.

To eliminate this problem, Sun created Tron as a Proof-of-Stake blockchain, which is an upgrade that Ethereum is currently working on. Tron delivers fast transaction speeds, and low costs.

Now CoinZoom clients can trade Tron against numerous other tokens, as well as fiat proxies like Tether. With more than 2 billion transactions already on its blockchain – it is easy to see that interest in Tron is likely to grow from here.

Stablecoins Stay Steady

Most people still can’t pay all their bills with Bitcoin, so stablecoins like Tether make a lot of sense. It is also a great way to trade cryptos, because it is basically a proxy for the US dollar.

Now CoinZoom clients can trade Tether, along with more than 40 other tokens on the exchange. CoinZoom makes a lot of sense for anyone who wants to deal with a fully regulated exchange that offers an amazing user experience.

CoinZoom also offers convenient fiat currency on ramps, so you can cash out of fiat, and load up on cryptos. For more information about CoinZoom, and all its great features, just click right here!

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

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Source: https://blockonomi.com/coinzoom-tron-trc20-tether/

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