Tortola, BVI – November 7, 2023. Tanssi, the appchain infrastructure protocol, has teamed up with BRX Ventures, the company behind Kona Finance, a decentralized short-term credit operational system. As a result of this collaboration, Kona has integrated an appchain into Dancebox, Tanssi's TestNet. This integration will provide Kona with dedicated blockspace for accelerated transactions, improved user experience, and the advantage of native interoperability with other chains within the Polkadot ecosystem, as well as external chains for broader market outreach.
Kona operates as a cross-border short-term credit marketplace protocol, allowing investors to trust and allocate their USDC or BRZ stablecoins for structured credit activities in Latin America. Traditionally, such opportunities have been out of reach for smaller and individual investors and presented costly and bureaucratic barriers to offshore institutional investors. Kona, however, bridges the gap, providing the missing layer for on-chain short-term credit and democratizing financial access where it was previously inaccessible. Currently, Kona has a monthly average transaction volume of $3M USD in structured credit operations. With the launch of their appchain, Kona is set to enhance their monthly credit transaction volume.
"The deployment on Tanssi's Dancebox TestNet stands as a remarkable testament to our team's expertise," says João Zecchin, co-founder of BRX Ventures. "The robust and intuitive environment provided by Tanssi enabled a seamless integration, paving the way for our collaboration with Kona. This collaboration propels BRX Ventures' mission forward, driving DeFi innovations with a focus on Real-World Assets. It bridges traditional finance with the decentralized future, enhancing efficiency and the user experience across the board.”
By integrating its appchain with Tanssi, Kona transforms into a ContainerChain, tapping into an extensive portfolio of infrastructure resources and services to streamline appchain deployment. This portfolio includes block production as a service, data retrieval, and cross-chain integrations, to name a few. With these services at their disposal, Kona can concentrate on perfecting its primary appchain offering – the short-term credit marketplace protocol – while delivering an unparalleled user experience. A standout feature of ContainerChains is their capacity for seamless integration with other appchains on the Polkadot Relay Chain via XCM (cross-chain messaging). This opens native communication with networks like Moonbeam, taking advantage of tools such as Moonbeam's Routed Liquidity. This integration not only amplifies Kona's liquidity but also broadens its DeFi offerings, all while delivering a unified user experience across multiple blockchains. Moreover, through XCM, Kona will also be able to integrate with the KILT protocol, a decentralized ID platform. This enables Kona to utilize Kilt's KYC-compliant digital identity, supplied by Deloitte, fortifying its security measures and further widening its functional reach.
By deploying a ContainerChain, Kona benefits from:
Flexibility & Scalability: Kona's wide array of decentralized products, from oracles to the staked BRZ product, require a tailored blockchain environment. A ContainerChain ensures alignment with Kona's diverse offerings and enables seamless scaling without the limitations of shared platforms.
Interoperability: Nako, Kona's short-term hedging tool, exemplifies the company's need for cross-platform compatibility. A ContainerChain facilitates smoother integrations across various DeFi platforms.
Enhanced Governance: Leveraging Tanssi's modules and Substrate's native pallets, Kona can effortlessly implement custom governance logic. This not only amplifies the utility of Kona's token but also fosters community participation, driving towards a decentralized ecosystem.
Dedicated Blockspace: Kona's escalating operations, particularly in loan repayments, demand ample blockspace. While loan grants may involve a singular transaction, repayments encompass a myriad of smaller transactions over a period. A dedicated blockspace on their ContainerChain ensures efficient transaction management, optimizing costs during peak market periods.
"Kona is an outstanding project that exemplifies the potential of web3 to revolutionize capital markets. We are thrilled to collaborate with their team, and we are particularly gratified that they have chosen Tanssi as their appchain deployment protocol. Our commitment is to continue supporting Kona throughout their appchain journey, providing the robust infrastructure they need to focus on their core objectives: enhancing their application, fostering community growth, and ensuring an exceptional user experience," says Francisco Agosti, Tanssi Co-founder.
Kona’s collaboration with Tanssi marks a significant step toward a seamless interaction between Real World Asset ContainerChains. Envision a future where a Liquidity Provider (LP) token from one chain can serve as collateral in another; Kona is turning this vision into reality. Tanssi’s infrastructure will support this mission by enhancing efficiency. Kona helps manage financial risk through its range of decentralized products. Through satellite products like the staked BRZ and Nako, Kona innovatively manages financial risks, benefiting not just its platform but the broader DeFi community as well.
As the collaboration with Kona progresses, Tanssi remains dedicated to streamlining appchain deployment and enhancing accessibility for the web3 developer community. Developers eager to tap into the potential of Tanssi are invited to explore Dancebox, the Tanssi TestNet, and embark on their appchain journey.
About Tanssi Network
Tanssi's appchain infrastructure protocol is built to simplify and accelerate appchain deployment using ContainerChains. When an appchain connects to Tanssi, it becomes a ContainerChain, accessing a developer-friendly and permissionless environment that provides infrastructure as a service. As a result, appchains can be deployed in just hours— a significant leap from the typical months-long process. On top of this, Tanssi also benefits from the shared security and native interoperability of the Polkadot relaychain. Learn more at tanssi.network
About Kona Finance
Kona Finance presents a novel approach to borrowing and investing via DeFi by facilitating short-term credit on-chain. The platform encompasses various features like on-chain hedging, staking pools, and oracles, which collectively aim to optimize capital, save time, and ease auditing. It utilizes blockchain technology to manage short-term loans, align incentives for fair rate offerings, and leverage other protocols to access different yield sources. The interaction between staking pools, capital pools, and oracles plays a pivotal role in managing loans and capital deployment, ensuring a streamlined and secure borrowing and investing experience. Learn more at kona.finance
About BRX Ventures
BRX Ventures is at the forefront of DeFi innovation, specializing in integrating Real-World Assets (RWAs) with blockchain technology. The company is dedicated to building and hosting applications that leverage these assets to create more stable and trustworthy financial products. By prioritizing RWAs, BRX Ventures aims to bridge the gap between traditional financial systems and decentralized finance, offering solutions that are both accessible and efficient for a global audience. Their strategic partnerships and proprietary technology pave the way for a new era of financial inclusivity and transparency.