Komet Finance, new ERA of Decentralized Hedge Fund
Understand the idea behind Komet Finance
What is an hedge funds ?
- Pool of assets in various proportions,
- A funds managed by the community,
- A decision-making strategy.
Keys of success
Diversity: The diversity of investment is critical for the strategy; meaning if no one asset dominates, the risk goes down.
Stronger together: participants must not see each other as competitors, The more we are, the stronger we are.
Popularity & rewards: best bets should be reward, members with higher reputation will gain more weight on the future vote.
Komet
A community of active investors in decentralized finance.
- A vote and rewards system,
- A set of tools to help the community both analyze and invest in cryptocurrency,
- A simple UX from web and mobile app to contribute to the adoption of the DeFi Finance.
Our tokens
Komet is an open-source, permissionless, community-owned built on top of Ethereum.
Our system is based on 3 mains tokens:
KOMET : ERC-20 main token — stake it to earn NOVA
NOVA : ERC-20 voting token for investment governance
HYPERNOVA : ERC-20 Reputation token to rewards in our meritocratic system our best members and give them more weight on vote.
Komet Bid sytem
A bid is a set of instructions that outline what the Voting contract should execute during the end of a voting period
The interface: which tokens you want to interact with ?
The function: which operations you want to do with this token ?
The parameters: how do you want to make this function ? (amount, address, time...)
Token Metrics
- Total supply : 30,000 KOMET
- Presale : 12,000 KOMET
- Team tokens : 3,000 KOMET (will be locked for 1 year)
- Airdrop : 1,000 KOMET
- Marketing : 3,000 KOMET
- Liquidity token : 6,000 KOMET
- Reserved fund* : 5,000 KOMET
*Dedicated to Security audits, Professional partnerships, …
At the end of the presale (around 11/28) we will determine the destiny of unsold KOMET tokens.
Bring the User Experience to the next level
One of the most underestimated things about the crypto environment is its need for ergonomics stuff.
At Komet, we place special emphasis on the user experience and that starts with providing a simple and clear access to the largest possible number of users through a well thought-out interface.
We will also provide monthy Fund Report to let investors easily track their investment performances.
Next steps of development
- Published the main ERC-20 contract to start the presale (planned for 11/18 in the morning EU time zone). The contract will be upgradable to handle all futures functions.
- Security Audit and publication of all contracts to handle staking, voting and rewards system (check below).
- Publication on Mainnet of all contracts with all main features and creation of a new open source repository.
- Evolution: we will continue to improve our contract with administration voting.
Komet Technical Specifications
Functionality in Komet is driven by financial action, where Komet facilitates democracy and monitors user performance. Komet’s method for processing action can be broken down into 3 distinct elements:
Proposals and Votes: Every action in Komet begins with the creation of a proposal by a user, specifying the details of the intended action and posting a deposit. Proposals are then voted on by other users through staking Komet tokens.
Information Requests: Following the democratic decision on a proposal, Komet issues a request every so often for data metrics on a proposal. This data is used to attach values to proposals and determine their performance.
Continuous Decision Returns: To encourage greater participation and smarter voting, Komet rewards voters in HYPER NOVA Tokens based on tracked performance.
Additionally, Komet contains separate proposals for internal governance. This feature is added under the assumption that Komet implementations must have the ability to adapt to external change.
Technical stack
OpenZeppelin : Our smart contracts are build on the top of the OpenZeppelin standard for secure blockchain applications.
Truffle: Suite of tools for testing and deploy smart contract
Infura: instant, scalable API access to the Ethereum networks.
Chai: All our contracts are developed using TDD
ELM: The best framework for functional programming, performance and robust codes.
web3.js: Ethereum JavaScript libraries
Contract audit right after presale ends
This is an important step for the team. First of all to secure the funds committed by the investors, but also to demonstrate to the community our willingness to successfully implement the project.
Vidar Twitter Account: https://twitter.com/VidarTheAuditor?s=20
Are you ready for this amazing journey?
We are.
The Team.
