Polkadot cross-chain asset platform Konomi closes $5M raise ahead of IDO
Konomi Network, a full-suite asset management solution for cross-chain crypto-assets, today announced it has successfully closed a $5M raise in three rounds of investment to deliver on its product roadmap for improving lending, trading, and asset management in the Polkadot ecosystem.
The $5 million raised will support Konomi in advancing the decentralized lending space by introducing support for Ethereum virtual machine and smart contract deployment, providing decentralized liquidity swap, and launching a standalone Konomi parachain.
Firms contributing to the raise include: Digital Finance Group (DFG), Amplifi, Blocksync, CMS, Crypto J, Double Peak, LD Capital, 4 Seasons, Dream Fund, BTX Capital, Coin98 Ventures, FBG Capital, Moonwhale, Titans Ventures, AU21 Capital, Genesis Block, Altonomy, and Zonff Partners.
“At DFG we believe strongly in Konomi’s ability to deliver on this need for the Polkadot ecosystem, whose interoperability capabilities will enable it to form the foundation of digital finance moving forward.”
– James Wo, an active investor and the Founder of DFG
The Konomi team is preparing to launch a public testnet, and the token generation and listing are scheduled for mid-March.
Konomi’s primary focus in the short term is to secure strategic collaboration with top DeFi projects in the Ethereum and Polkadot communities. Already, Konomi is engaged in dialogue with some of the leading companies that make up the building blocks of the DeFi ecosystem.
As the next step in Konomi Network’s public sale, the project will be conducting a community sale for KONO token on Initial DEX Offering (IDO) platform, Polkastarter. The number targeted for the community is 200,000 tokens for a total price of $200K, and each person will be maxed at $500 each.