2021 is a significant year for Coinversation. During this year, Coinversation has completed many milestones. Coinversation has upgraded from a synthetic asset protocol on Polkadot to an open financial platform on Polkadot, and is committed to building Polkadot (Polkadot). ) on the open financial platform, providing a good Defi 2.0 experience for users in the Polkadot ecosystem, including DEX, synthetic assets and stable currency asset interest-generating protocols. And participated in the second batch of Polkadot slot auctions. As a parachain on the Polkadot network, Coinversation will also benefit from the Polkadot relay chain and other Polkadot related chains. Interoperability, users in the Polkadot ecosystem can perform various operations through Coinversation, such as cross-chain asset interest generation and asset synthesis.
The Coinversation team has been established for more than a year. In 2021, we had worked together to complete the synthetic asset protocol, determine the data source of the synthetic asset protocol, establish a whitelist mechanism, complete the oracle function, and launch the first Dapp, Kaco Finance. It has also completed the deployment on BSC and Kusama. On BSC, KACO has attracted up to 10 million US dollars of Polkadot ecological assets to lock up. At the same time, KACO is also the first NFT fragmentation protocol on BSC. It aims to provide NFT’s liquidity on BSC. There are currently as many as 5,000 NFTs for fragmentation on KACO. In addition, KACO has also completed the asset bridge from BSC to Kusama. Kaco was the project with the highest amount of $SDN staked in Dappstaking on Siden before, with up to 1.4 million SDNs staked through KACO. Currently is the second-highest amount.
We also know that a successful project is inseparable from the support of multiple partners. Coinversation has accumulated a lot of high-quality partners both inside and outside the Polkadot ecosystem. Especially in the Polkadot ecosystem, we have good partners, such as Astar, Patract Labs, Shiden, Clover, PHALA, Crust, etc. We support each other and move forward together, laying a solid foundation for Coinversation’s subsequent development.
In terms of community, Coinversastion’s Twitter has grown from a few hundred fans at the beginning of the year to around 34,000 fans now. Kaco, which only created Twitter in August, has also attracted 16,000 fans in just a few months. Telegram is also a community of 17,000 people from a few hundred people at the beginning of the year, all of which are inseparable from everyone’s support.
Coinversation will complete more milestones in 2022. First of all, Coinversation products will be launched in the first and second quarters. At that time, users who hold DOT, ASTR, and other assets can generate interest-bearing tokens (such as kSDN, kASTR) by staked through our DEX (KACO). We will also support the generation of interest-bearing tokens by LP, including stablecoin LPs. Users can deposit the interest-bearing tokens into the Coinversation application for lending and improve the utilization rate of user assets. You can also stake and mine in the Coinversation protocol so that you can reap more benefits.
Finally, a heartfelt thank you to our community members, partners, and everyone who has grown with Coinversation and KACO this year because Coinversation 2021 can only be so thrilling because of you! In 2022, we will continue to work hard to develop better products, provide users with a better experience, and cooperate with more high-quality projects to allow more users to understand and use Coinversation.
About Coinversation Protocol
Coinversation Protocol is the 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 interest-bearing asset 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.
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.