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Where Kona centralizes and suggestions for future solutions
As with every new product, built is better than perfect. In order to get Kona up and running, we had to make some design tradeoffs and rely on some centralized entities.
- The ramp provider we use currently has a huge list of responsibilities such as remitting fiat currency and liquidating loan payments.
- In order to move fast, the ownership of Kona is still centralized in founding team, thus governance is non existing (balance between takers and investors).
- Loans are currently within a single category: credit card receivables. Therefore, collateral is locked by a single provider (albeit in all 3 registers).
- Kona is initially geographically centralized in Brazil, being exposed to local regulation changes.
We have our own views on how to improve on these issues and will share them bellow. However, we would like to invite the community to come together in our Discord and propose improvements.
Our solution starts with a governance token
to be issued in the near future. It will be used (of course) as a governance mechanism, for proposing and voting on KIPs (Kona Improvement Proposals), and as an alignment mechanism.
- | KIP 1: Require ramp providers to offset their value held in collateral with token staking. Providing Kona with (i) a punishment (slash) / reward (yield) mechanism to align ramp providers; (ii) a mechanism to reduce ramping quantity (liquidation can happen in tokens at a premium/discount); (iii) create an open market for anyone to provide ramp services, increasing competition and reducing costs for Kona.🏦
- | KIP 2: Implementation of a handoff of the platform from project founders to the community. We are diving into every model proposed in the blockchain industry (and have yet to find a perfect model) and will count in the community to contribute with a trauma-free model.🤝
- | KIP 3: Abstraction of Kona core technology and business model in order to expand in a scalable fashion to other areas of interest. Our goal is for Kona to be the rails on which any real world collateral can safely be financed by DeFi.⌨