Konomi Network | Next PolkaDot GEM

one of the great things about the polka dot 
ecosystem is that it almost feels like it's   a second chance for people that have missed the 
boat in investing in platforms and ethereum that   have performed really well right because of the 
limitations of ethereum because of the scalability   issues you know you've got you've got polka 
dot which is obviously touted at being   bigger better faster the usual that you see 
in this space so what we do tend to see from   time to time is you know projects that are 
performing well also have similar projects   that are popping up on polkadot for example and so 
today i'm going to be talking about one which you   know a lot of telegram communities are talking 
about and they're comparing it to rv you're   familiar with rv and you kind of know how well it 
does on the secondary markets you know price-wise   it's you know 482 dollars a token not cheap so 
if there is an opportunity for you to be able to   get to that level of ownership from a token 
perspective then why wouldn't you stay tuned   and let's delve in my name is feroz 
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today's episode we are going to be talking about   konomi network uh it's an interesting 
project that i've come across   in it mentioned in quite a few communities 
and various groups that i'm in ultimately it's   uh it's a full suite management solution be able 
to manage your uh cross-chain crypto assets what   i like so far from the sort of general research 
that i've done on it it's built on substrate great   development framework um that's always a positive 
it also appears to have received a grant from the   web3 foundation i mean these aren't just handed 
out to anybody but it's always a good way to check   future dot projects whether they whether they've 
been accepted for the grant but i think one thing   you need to bear in mind when you when you when 
you look at this is that know that even though   they've been accepted it doesn't necessarily 
mean that they've delivered working software but   once again these aren't really handed out just 
like that either so there is a fair bit of   i suppose due diligence that needs to be 
done before these grants are handed out   uh bear in mind i think the other bit that i also 
like um you know just around what do we actually   mean by the management solution they have right 
what what what is that in it base for oh it's base   form if you kind of have a look at the uh let's 
have a look so asset management we've got here so   i would say when we look at the project the 
idea is that you can hold all your crypto   positions in place spread your assets and 
interest through the decentralized it's as i   said before in the opening of the video you know 
if i had to compare this i'd compare it to ave   a veritabe in terms of it's very similar it 
does um you know that rba is also decentralized   it allows users and borrow an interest on 
their crypto uh so you know ultimately you're   removing the middleman more than anything 
else allowing borrowers to gain exposure to   different cryptocurrencies without owning them 
now as i mentioned before lots of projects   coming out on the pokedoc ecosystem um 
you know given where we are with ethereum   prices the transaction fees alone you know even 
if you want to make a couple of hundred dollar   swaps on uni swapping transaction fees for that 
are coming to like 40 50 it almost doesn't even   feel like it's worth cashing out on a profit and 
you know it is becoming more of a whales game you   that's that's that's just my opinion so i 
can see why no me are building on substrate   because you know when it's when ethereum network 
clogs up we can we can see it it's being tested   time and time again now scaling is a massive 
issue it needs to be addressed theorem 2.0 needs   to hurry up and get here quick um so when we look 
at what konomi is proposing as a product we've got   let's have a look what we've got on their product 
section scroll down a bit we have borrow and land   cross chain liquidity has it so kind of analyze 
each of those oh the trade side allows users to   access liquidity for assets in the ecosystem 
they've also built in support for contract   that's based on liquidity liquidity protocols 
based on automated money markets interesting   what i notice is that there's 
also mention of long tail assets   restrictions i'd like to see that in practice 
i mean a long tail strategy is only possible   you have some way of cost effectively delivering 
a your niche product so as long as there are high   fixed costs for each item you'll always face a 
vicious circle in terms of high prices it's you   know leading to low demand leading to higher 
prices leading to lower demands etc i mean you   can see this in asset management and mutual fund 
etfs today that have fixed costs which ultimately   forces i would say the small mutual funds in etf 
have high fees lower demands and then once again   you're requiring higher fees again etc etc so 
it goes on there's also the lending side here   so i mean this is just a decentralized money 
mark i can allows users to lend and borrow assets   it's based on the c collateralized debt position 
model um you know fundamentally it's just a debt   position that is backed by an underlying pool of 
assets just like you have an arvi and there's also   a wallet and i mean the idea behind that is to 
aggregate all these things as well as managing   the position in different protocols the idea i 
suppose in its simplest form is to be a one-stop   shop to manage all your assets on the dollar 
ecosystem rather than you know having currency in   this bank currency in that bank and then having to 
swap between various applications that's always a   positive let's check out the token utility because 
tokens always need to have some form of utility   in order to actually otherwise why would 
you have a token in the first place   and so looking at the overall 
ecosystem just at a high level   seems to be split over three that's what we've got 
here but first and foremost it's of the governance   side right so what that means is that it's able 
to you gives you the ability to be able to vote   right and by voting it may well be you know pool 
fees might be introduced or pool fees might be   you know taken up taking lower down it kind 
of gives the opportunity for token holders to   be able to participate in that transaction 
fee burns you know general when it comes   to this sort of governance side of things 
you can look at it as there's a road map   there's some proposals and you as a token holder 
have a say in what direction it goes it might   not be something that you agree with it might be 
something that you do strongly agree with and so   you can push the product almost to kind of move 
in that direction there's also user incentives   this is important because ultimately when you do 
have a token you know beyond just the secondary   market value there needs to be some sort 
of incentivization to bring users into the   ecosystem because without using the ecosystem 
you're not necessarily going to get enough   upward by pressure um in terms of the token value 
right so here it looks like there'll be large   portions of the token served to encourage you just 
to add liquidity right so it's a good play on the   liquidity side i like this um once again it helps 
attracts users and then lastly we've got behind   my head but it says asset staking that's at stake 
in once again it's an opportunity to earn rewards   like quite a few platforms that we have in d5 
you take your assets and you get rewarded um   so that way it kind of forces you to hold and you 
obviously get buy pressure as well comes a price   action i did have a look at the github earlier 
actually let's have a look at the github because   i think it's empty it's empty um now it may well 
be that they just haven't made this github public   yet private so ideally i would like to see 
something here because there's someone and   we'll announce and i'll talk about that a bit 
later because it really comes down to when you're   looking at the roadmap you want to see what's 
actually been developed from that perspective   now i think one of the things a lot of people 
are talking about is obviously private sale in   the group you know when pre-sale and private sale 
etc and i think we kind of need to have a look at   what some of those tokenomics actually end 
up looking like here jump on over to but   if we can find the white paper i'm pretty certain 
white paper i did notice somewhere it mentioned   the tokenomics side of things where we got it it's 
when we're down here here it is right so economics   economics perspective 100 million 
donate tokens the launch of the network   fixed supply so that's always good 25 will be 
reserved for the sale that's a decent portion   of it actually i like that then the rest of 
it's just split between marketing developments   okay and then it's interesting as they reserve 
some for ecosystem development and partnerships   they've got 15 reserved distribution preventive 
plans so this is kind of what i mentioned before   earlier in terms of reward staking all of those 
you see it's really to draw the user interestingly   enough when i do have a look for it i've also 
got the 24 months 24 months of linear investing   know a little bit about how that works now 
obviously one of the key areas here is looking at   the is looking at the team um you know we've 
got to look at the team look at the road map   right roll down where's the road map i had 
a road map here here we are here's the road   look at the road map it's important because this 
is what the team need to team need to deliver   again it seems to be a fair bit that has already 
happened in the roadmap be interesting to know how   far along or how much of this road map has been 
realized when we talk about the teams let's have   a look so when i i did have a look so you've got 
canon they've got a linkedin page and usually i   tend to normally jump over to the people side of 
things exactly who's who's behind there and we've   got quite a few people oh look at the ceo good 
to see what the ceo has worked on in the past so   10 years entrepreneur next startup experience 
which you know is always good to see they've   been the ceo for high mall indoor navigations 
tech based poor there isn't really much i mean   interesting enough though linkedin i've noticed 
differs between various countries right so from   the i'm from the uk and usually our linkedin 
profiles are fairly up to date in terms of what   we've done where we've worked um but i've noticed 
with some of the our east linkedin profiles   they're quite light and maybe it's just something 
that they don't use but it's you know it makes it   difficult sometimes to evaluate the individuals 
backing the project i mean another look at their   cmo a cmos experience interesting i mean you know 
they finished their degree recently in 2017 so   three years years out of universe but uh once 
again i mean i don't know some of the numbers   don't really tally up here four years as 
a commodity breaker or maybe they work   part-time as a commodity broker it could be uh 
co-founder from 2018 after they finish university   it it's it's interesting but interestingly 
enough they've all been working on konomi for   the past year is uh which is good to see but 
equally i'd love to have the team on the show   as i normally do i i interview teams 
i interview projects and founders   dig a bit more beneath the surface 
find out exactly what they're all about the other thing that i did actually see earlier 
mentioned there was a post around they did   appoint an advisor actually jonathan diller 
joined the advisor committee of konomi network   or and this individual individual here they 
they manage blockchain strategy at paypal   this is interesting actually because i think 
this is quite bullish depending on what   that involvement actually is it'd be always 
interesting to dig a bit deeper here because   uh you know paypal are in the crypto business now 
right this is this is good and if we've got people   that are working at paypal who are also you know 
branching out into other projects that are opening   up in blockchain space then you know this can only 
be a good thing but it's just something to bear in   mind i mean certainly the the chap seems fairly um 
actual harvard university university of oxford so   pretty interesting benny it's been a year at 
paypal as well so bear in mind um right so look   i mean my final thoughts as i said before the 
polkadot ecosystem is almost providing a second   chance for the everyday person uh getting involved 
projects that they've seen success on ethereum and   maybe they haven't had the chance to jump on 
that success or jump on that train at the time   um but i think what we do need to know more 
about is really the token token economics behind   this as well i'm interested to see what their 
private sell pre-sale prices are well they're   still raising whether they've done that raise how 
much they're going to be releasing on the public   sales for example what the initial market cap is 
because you know there's two sides to everything   here right there's people that are in it for tech 
and there are people that are in it to obviously   bank right that's that's that's the hard truth of 
it something kind of we need to we need to look at   certainly worth keeping an eye out on this 
definitely jump into the telegram channel   follow them on twitter and kind of see 
what's what's going on i mean the roadmap   here says that a test net was launched 
last year or towards the end of last year   um you know they've got support for swaps 
as well and decentralized money market   and if that is the case and they're able to 
showcase a lot of that then certainly for me this   this project does seem to have 
some pretty decent legs to stand on   especially in terms of what i mentioned before 
if you know if rv is kind of the platform that   these guys are looking to replace but you know 
within the eco doc they're in the ecosystem   then you know i've got i've got high hopes on 
on a number of areas that's about it from me i   mean if this is the type of content that you like 
then certainly i would appreciate a like i would   only love it if you subscribe to the channel and 
um drop a comment below let me know what you think   of konomi where do you think this project is 
going is it something you're interested in   do you think you'd be trying to get into the 
private sale or do you think you'll try and catch   it when it goes public let me know in the comments 
below stay tuned and i'll see you on the next one

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