Konomi will be joining the DODO Booster Program and kicking off a 4-week KONO/ETH liquidity mining campaign, where the pool’s liquidity providers will be rewarded with KONO tokens and DODO tokens.
The details are as follows:
Campaign Start Block Number: 12288489 (approximately April 22, 2021 at 2:30PM UTC+8 (Singapore Time))
Campaign End Block Number: 12476088 (approximately May 20, 2021 at 2:30PM UTC+8 (Singapore Time))
How to Participate
During the campaign, users who add funds to the KONO/ETH liquidity pool on the DODO ETH platform will receive DLP tokens, and by staking these DLP tokens users will receive DODO tokens and KONO tokens as liquidity mining rewards.
Note: Market making and liquidity provision involve risk of loss and are not suitable for every user. The valuation and prices of token assets may fluctuate substantially, and, as a result, users may see profits that are below expectations, or even sustain losses.
A how-to guide to liquidity mining on DODO:
Normally, the mining rewards for the first week is $7,500 worth of DODO tokens. However, thanks to Super Booster, the total value of the mining rewards during the first week of the campaign will be three times the normal amount, meaning that 6,081 DODO tokens (0.1296 DODO per block) will be up for grabs from April 22 to April 29, 2021 UTC+8.
After the first week, DODO will continue to re-adjust the weekly reward value on every Monday based on the total trading volume from the previous week, and the maximum value for a week’s mining rewards could be as high as $45,000 worth of DODO tokens.
Konomi is scheduled to release 2,840.75 ERC-20 KONO tokens (0.0605 KONO per block) every week, and a total of 11,363 KONO tokens are expected to be released over the course of the campaign.
Token Contract Address: 0x850aAB69f0e0171A9a49dB8BE3E71351c8247Df4
Determination of Weekly Rewards
As mentioned previously, the total reward value starting from the second week of the campaign could vary based on the trading volume from the previous week. The weekly reward value is determined by the following rules:
If the total trading volume of the current week is no greater than $5,000,000, the reward value for the next week will be capped at $7,500 worth of DODO tokens.
If the total trading volume of the current week is between $5,000,000 and $10,000,000, the reward value for the next week will be capped at $15,000 worth of DODO tokens.
If the total trading volume of the current week is between $10,000,000 and $15,000,000, the reward value for the next week will be capped at $30,000 worth of DODO tokens.
If the total trading volume of the current week is greater than or equal to $15,000,000, the reward cap for the next week will be capped at $45,000 worth of DODO tokens.
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. Konomi also issues its native network token in order to kick start liquidity and decentralised governance for its chain.
These are the ONLY official links
Announcement Channel: https://t.me/konominetworkchannel
Telegram (VN): https://t.me/konominetwork_vn
Telegram (Arabic): https://t.me/Konomi_network_arabic