Konomi Oracle is Now Officially Launched On The Testnet

Konomi Oracle Decentralised Validator, Konomi Oracle is now live on the testnet.

This update will focus on validator contracts, and the different types of validators will be the core to the decentralised governance of Konomi Oracle in the future. This article will focus on the selection of validators for contract addresses, how they work, as well as the reward and punishment mechanisms.

The selection of validators will require a certain level of expertise and responsibility as part of the governance process. During the testing stage, before the staking contract is developed, the Konomi Oracle Governance Board will select volunteers from the community with a certain DeFi knowledge foundation to form several reviewing committees, thus achieving fully decentralised governance.

About Konomi Network

Konomi is a full suite asset management solution for cross-chain crypto assets. Using Substrate as the development framework, the network aims to support more assets in the Polkadot ecosystem. Users could manage their crypto holding positions, trade assets and earn interest through decentralised money market products. Konomi also issues its native network token in order to kick start liquidity and decentralised governance.

➡️Source:
https://konomi-network.medium.com/konomi-oracle-decentralized-validator-1a3bca2d545a