Konomi Network Community Call on 7th June 2023

Tnice3660 (Community Member):

We still need to know why the whole project development is still slow, what happened to the investment partnership you guys announced that you got and is the project still going to move as the guys planned early this year? also why are we still yet to get a new roadmap like you guys promised.

Jayden:

The investment is kinda stuck. One of our early investors committed a new investment of 300k. However, we signed the agreement but didn’t receive the fund till today. So we have paused our team expansion until we got the fund. That’s why we are slow with our development as we only have 2 developers with us.

Timmynice (Community Member):

I just want to ask for the updates on KONO token migration to other chain and the proposed side project. We haven't heard anything about them for a while now

Jayden:

We are working on migration to Arbitrum right now. It’s partially done and you guys can check Github on the progress. We will make announcement once you guys can connect your wallet with Arb mainnet. As for the token, we planed to use Multichain as the bridge since we have partnered with them last year. However, some incident happens to the team recently so we are looking for new cross chain Bridge partners. Let us know if you guys have any suggestions on this.

Community Member:

Are there any external factors or market conditions that might have contributed to the prolonged silence from the Konomi Network team?
Has the Konomi Network team provided any reassurances or plans to revive the project and regain community trust?

Jayden:

Yes the market condition do affect the project significantly. It’s so hard to find the marketing angles as the market is very dead recently

BTC 100K (Community Member):

1. can you tell a little bit about the plan how the new project benefits KONO token holders from the high price? I will create a form so you guys can fill in your ideas and we can discuss this on the next community call

2. what i want to know, are you still the captain of both the KONO project and the new project?

Jayden:

1. No comprehensive solution on this yet. Shall we have a session to brainstorm on this together?

2. Yes it’s the same team. We haven’t really start working on new project except compiling ideas as we would like to finish with migration and variable staking first

Amelia:

I understand that we've been waiting for this project since like March and this is already June, investors need answers, we can't just be holding for nothing or rather just for staking, please give us a comprehensive detailed update about the current status of konomi and the new project, thanks

Jayden:

We are basically working on two things right now:

1. Migration to Arb

2.Developing the variable Apr staking products. Currently we only have the fixed APR staking

Community Member:

How has the lack of updates impacted the perception and confidence of investors and token holders in the Konomi Network project?

Jayden:

Honestly I don’t know how to quantify the impacts but I will be more active and community regularly with you guys.

It doesn’t really impact that much at this stage. The volume is impacted by the market condition

Amelia (Community Member)
This new project, what's the sustainability plan for the long run, and how best would you convince us that it won't go sideways just like konomi?

Jayden:

That’s why we didn’t input anything on the new project yet because we don’t want to start a project that only has a twitter and website.

It’s not easy to design the tokenomic for the project.

Let me give you guys some concerns that we need to take into consideration:

1. .All Kono holders will get free tokens at certain mapping ratio which will take up at least 20-30% of the total supply. This will create a huge selling pressure and fear among non Kono holders who are interested in the project. How are we going to handle the selling pressure gonna be a challenge for us

2. It’s going to be a fair launch without any pre-sale. Then we need to source fund to set up the initial liquidity and the pool can’t be too small

Timmynice (Community Member):

Is there a chance of investment partnership happening or it's never going to happen, the money from the investment would been helped with that.

Jayden:

Yes. It’s hard to raise fund under current market condition. It’s even harder if the project give a huge proportion of the tokens as free airdrop.

Timmynice(Community Member):

Anyways, my suggestion is that the whole side project should be on hold for now till right the investment comes in and the market is favourable.

Put on hold till all factors are favourable like someone suggested but it shouldn't be cancelled, long time holders must be compensated.

Jayden:

Yes. Let’s have another session in two weeks to brainstorm on this: How to identify long time holders?

Timmynice (Community Member)

Some people have been holding on CEXs for a long time

Jayden:

Yes. It’s the problem. Onchain part is easy.

Timmynice (Community Member):

Let's just look for other projects who had done something like this in the past, we can probably use their template

Jayden:

Let me know if you know the name of the projects and I will study their approach.

Ok I think it has come to the end of this community call. I will update you guys on the progress.

Feel free to drop the questions at any point of time.

I’ve always open my DM for your suggestions to reach out.