We are delighted to announce that Blocksync Ventures has made an investment in Konomi, a new decentralized money market protocol built on Polkadot. Because we are committed to investing in people and products with transformative potential, our decision to support Konomi came naturally.
Konomi facilitates money markets for the expanding Polkadot ecosystem, including cross-chain crypto assets. The open platform fulfills user demand in terms of liquidity and advanced primitives (borrowing, lending, asset management), while smoothing the way for investors to support emerging products via DOT staking.
Billed as a full suite asset management solution, Konomi enables users to manage their crypto holding positions, trade virtual currencies, and earn yield via decentralized money market products. Konomi’s decentralized liquidity protocol also enables users to seamlessly interact with applications on different parachains, without having to continually swap tokens via a decentralized exchange (DEX).
Konomi will initially support trading, deposits and lending, though further products — such as those related to staking and governance — are likely to come online when more Polkadot parachains are launched. A native KONO token will also be released in the near future.
Konomi Trade allows users to access liquidity for Polkadot-based assets, and to trade with immediate on-chain execution. The platform’s Lend protocol, meanwhile, will operate on a collateralized debt position (CDP) model, with DOT acting as the default collateral.
Excitement around Polkadot’s defi ecosystem is building steadily, and Konomi is at the forefront of this movement. We have great faith in Konomi’s ability to make an impact in the defi landscape.
“Blocksync Ventures’ endorsement is a validation not only of the work we have been doing on our protocol, but of the strong ecosystem that is forming around Polkadot. With their support, we look forward to building out our decentralized money market, allowing cross-chain assets to be efficiently deployed in a highly liquid environment.”
- Jayden Antonio (Konomi COO)