Monthly Update #November 2021: Coinversation’s New Official Website is Online, CTO Lists, 24H Vol Reach $1M

1. Community Progress

2. Coinverstion’s EVM version DEX-Kaco Finance’s Twitter reach 16,000 followers.

2. Development Progress

In November, Coinversation fully upgrated official website. The new official website fully interprets the modules included in the upgraded Coinversation, as well as the latest roadmap and mechanism.

This month, Coinversation team studied the rules and reward mechanism of parachain slot auction and obtained the Para ID with number 2027. Next, the team is expected to start the parachain slot auction in December on batch 2, and at the same time find partners of the slot auction.

Kaco Finance’s official website has a new search engine function. Users can search for the NFT they want (Kaco, Alpaca, and Pancake) through the series or ID of the NFT.

Kaco has completed the distribution of $SDN rewards before Era 30 for DappStaking on Shiden. Even Shiden Network changed the Dapp Staking reward ratio, Kaco would not change the reward ratio on this basis. It is still based on the old ratio. The previous reward ratio between users and developers was 60:40. Although it is no longer a 3X reward, the rewards for users are the same as before.

Kaco will also develop a signature system for distributing KAC and SDN rewards. After this function is launched, users can more conveniently receive the rewards they deserve.

According to the latest version of the development roadmap plan, the team will complete the debugging of Dapp Staking EVM and Runtime in December, stake SDN earn KAC, and help users complete the reinvestment. This strive to be online at the end of December.

3. Partnership

1. Reached a partnership with JPYC

Through this cooperation, Shiden users can transfer $SDN and $JPYC on Kaco Finance.

2. Promote cooperation details and implementation matters regarding parachain slot auction with Parallel and Bifrost.

4. Events

About Coinversation Protocol

Coinversation Protocol is the first DEFI2.0 protocol platform of Polkadot Ecology. It has been expanded from a synthetic asset protocol to a derivative ecosystem including parachains, DEX, synthetic asset, and stablecoin protocols.

Coinversation Protocol aims to be a stable currency protocol based on interest-bearing assets based on the parachain of Polkadot. Users can use different currencies such as CTO and DOT to synthesize CUSD through smart contracts and oracle. Users can cast CUSD by staking tokens that can generate interest. Bridging USDT, USDC and BUSD to the CTO network to form the largest stable currency exchange platform in the Polkadot ecosystem. We will open the interface to facilitate all parachain to access our stable currency exchange system, so that all chain users can seamlessly use Polkadot’s bridging protocol.

WebsiteTelegram | Twitter | Github

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.

WebsiteTelegram | Twitter | DOC

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Coinversation Protocol

Coinversation Protocol

Coinversation: Decentralized Synthetic Asset Issuance Platform on Polkadot