KONPAY Lock-up Release Announcement

KONPAY
1 min readJun 3, 2024

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Release amount :
- User Compensation Pool : 248,888,888 KON
- Partner Deposit : 320,000,000 KON
- Payment Deposit : 640,000,000 KON

TOTAL : 1,208,888,888 KON

The introduction of Account Abstraction (AA) supports a flexible account structure, and by using Bundler to consolidate multiple transactions into a single bundle, it maximizes network efficiency and reduces transaction fees. Through Paymaster, users can avoid paying fees, enhancing their experience and increasing liquidity for market activation.

The adoption of AA is part of the ongoing R&D to enable asset payments using KONPAY. As part of these efforts, AA has been implemented to establish a more affordable fee structure. This sets the foundation for paying for various real-world assets with KONPAY, creating an accessible environment for global users and increasing financial inclusion.

Due to the faster-than-expected implementation of AA, circulation is being changed to accelerate network activation and market liquidity. This will bring more assets into the market, increasing trading activity and providing greater transparency and trust to investors. Additionally, it establishes a foundation for using KONPAY to pay for real-world assets, improving user convenience and accessibility, and enhancing competitiveness in the global financial market.

Details:
- Entry Point : https://konetexplorer.io/address/0x15d39593fc8735a06112a820c91d3067A7621e22?tab=read_contract
- Bundler : https://github.com/kon-mainnet/bundler
- Account Abstraction : https://github.com/kon-mainnet/account-abstraction

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