The Most Detailed Guide To Joining Testnet On Konomi

Hi guys!

Today I will share with you a testnet topic “both familiar and strange.” That is the topic today I will talk about Konomi – a financial instrument on the Polkadot platform, strange here after Konomi has just officially announced the testnet for users.

To be able to experience in the Konomi Network space, please read through the following article.

What is Konomi (KONO)?

Konomi is a decentralized financial instrument including Trade, Wallet, Lending. Konomi is well known for its high transaction speed on the Ethereum platform, DOT borrowing support on Konomi Lend.

KONO is a native token, used like other Governance tokens and there is no information about the exact KONO issuance yet. Currently you can own them by participating in staking.

Instructions to join Testnet Konomi

Install Polkadot Wallet to connect Testnet Konomi

Since Konomi is based on the Polkadot platform, to start experimenting on this platform, you need to know some information as follows:

First, install & download Polkadot extension here.

Note that these versions are only compatible with Chrome and Firefox browsers.

Next, click “Download” To download, select “Add to Chrome” to add.

Brothers click on the word icon P, click “Understood” & click “+” to create an account.

After that, the system will send back 12 security characters, you should take notes carefully & tick the box “I have saved my mnemonic seed safely”, choose “Next step”.

Enter your brother’s name and password in the next table, click “Add account”.

Completing the above steps, we access Konomi Testnet & click “Connect To Wallet” to connect Polkadot wallet.

Click “Yes, allow this application access” & “Authorize” to connect the wallet to.

Get Free $9,007 on Testnet Konimi

To start participating in the testnet, click on the top right corner of the page to add the balance to your account. Each click you will receive a minimum of 9,007 USD to test investment on Konomi.

Note: Each click you will receive $9.07K, the amount will be increased if you click more than once. How much do we need to use to get just enough to perform the testnet?

How to join Testnet Komoni

Coming to Konomi, users can choose to invest in two forms of Supply or Borrow.

Do it by going back to the homepage, click “Invest”.

1. For Supply Markets

You click on the property you want to add, there will be an APY rate for you to choose from.

Here I take the KONO token example, click “Supply” amount 5 & tick transaction confirmation “Sign the transaction”.

After supply, we can return to the homepage to check the quantity added.

2. For Borrow Markets

Similar to supply, you choose the type of property you want to borrow.

Note how much you want to borrow, you need to supply an equivalent or higher amount for mortgage.

For example, if I have supplied 5 KONO, I will be able to borrow another 5 KONO & I have 10 KONO in total.

To repay the loan, you choose the token & enter the amount, click “Repay”.

Epilogue

This is a new testnet on Konomi, so there may be errors when trading, through the testnet experience, you can capture those errors to contribute ideas via the project’s Telegram group.

Participating in the testnet is not only receiving rewards, but we are contributing to building better and better projects, so test participants have a very important role in each project. The dev team will rely on user experience to develop more new features, more programs & more rewards for the community.

The core thing I want to mention is what will we get in the process of participating in the testnet? It is the experience, more deeply the potential rewards from other new dApp projects and products. Hopefully this article will give you a fresh look at testnet.

Wish you guys a lot of luck.

Reference source: https://twitter.com/KonomiNetwork

#Konomi #KONO #Polkadot #ZeroToOne