Monthly Update #August 2021: Coinversation EVM Version DEX — Kaco Goes Online for Trial Operation, TVL has Exceeded $6M
- The EVM version of DEX-Kaco deployment and online
- Kaco started liquidity mining, TVL has exceeded $600w
- Kaco released the first NFT work, which was distributed to the community in the form of event rewards
- Join Astar’s Builder Program and start strategic cooperation
- Achieve wallet and cross-chain cooperation with Mathchain
- Kaco’s first community sharing: Interpretation of why the Coinversation team wants to be a DEX serving Polkadot assets
1. Community Progress
1. Coinversation Twitter has exceeded 30,000 followers and 20,000 telegraph members.
2. Coinverstion’s EVM version DEX-Kaco Finance’s Twitter reach 11,000 followers within a mouth.
2. Development Progress
In August, the team completed the front-end build and final test deployment of Kaco Finance, went online BSC at the end of August, and simultaneously opened the liquidity mining. TVL broke 6 million, KAC current price 1.25u.
On August 30, Kaco handed over the owner rights of the main contract MasterChef to the time lock contract. The minimum transaction delay time of the time lock is 12 hours. Enabling the time lock increases the security and trust of user transactions.
According to the latest version of the development roadmap plan, the team will push forward the cross-chain development and deployment of Kaco Finance the next September. It is expected that Shiden parachain will be launched at the end of September, and liquidity mining pools will begin to be provided.
At the same time, the development of Kaco’s NFT fragmented trading module will proceed simultaneously and is expected to meet with users in Q3. During this period, the team will continue to update the development progress on social media.
3. Partnership
1. Reach strategic cooperation with Mathchain
Through this cooperation, Coinversation’s evm version of DEX will be based on MathChain parachains to complete the cross-chain deployment of dApp. At the same time, MathWallet will also support Coivnersation’s evm version of DEX.
2. Reach cooperation with Project Galaxy
Kaco Finance joins the NFT service infrastructure provided by Project Galaxy. Through this cooperation, Kaco Finance can freely distribute NFT on Project Galaxy.
3. Join Astar’s Builder Program and start strategic cooperation
Coinversation successfully joined the developer project initiated by Astar Ecology. According to the roadmap submitted by the roadmap, Coinversation will participate in the co-construction of Daapstaking launched by Shiden. It is expected that Kaco will complete its deployment on Shiden in September.
4. Events
1. To celebrate the launch of KACO, KACO and Coinversation launched a joint giveaway on Twitter, with 4,000+ participants.
2. To celebrate KACO’s early bird mining, KACO launched the first NFT giveaway with 8,000 + participants. At the same time, we designed the early bird special version of NFT for users who hold at least 1 KAC in the wallet at the end of the early bird mining. There are 1863 eligible addresses at the time of the snapshot.
3. KACO’s first community AMA in Chinese and English, with 15,000+ live viewers.
4, KACO Chinese community Q & A activities, the number of participants 1000 +.
About Coinversation Protocol
Coinversation Protocol is a synthetic-asset issuance protocol and decentralized contract trading exchange based on the Polkadot parachain. It uses CTOs, the issued by Coinversation Protocol, and DOTs as collateral, to synthesize any cryptocurrencies, stocks, bonds, gold or other off-chain assets through smart contracts and oracles. Users can forge a certain synthetic asset by collateralizing CTOs or DOTs, such as U.S. dollars, and automatically have a long position in the asset. Users can also convert minted assets into other assets through the trading platform, so as to realize the purpose of shorting the asset and longing other assets.
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About KACO
Kaco Finance is the evm version of DEX issued by Polkadot decentralized exchange and synthetic asset protocol Coinversation. Kaco Finance is a cross-chain decentralized trading platform based on Binance Smart Chain and Kusama parachain. Kaco Finance initially aims to provide liquidity AMM and yield farm for the Polkadot ecological project and is committed to realizing the asset bridging function between Kusama and BSC.
