Konstellation AMA Recap: September 2022

4 min readSep 21, 2022

Konstellation Co-Founders Sang Lee (CEO) and Natasha Bansgopaul (COO) connected with community members by hosting a Community AMA. The AMA took place on September 16, 2022 via livestream on Youtube. The highlight of the AMA was introducing the new ecosystem project of Konstellation called, “TAEBIT” — the world’s first decentralized FOREX DEX.

See below the key topics discussed in the AMA.

📃Key Topics:

Design Upgrade for Konstellation Bridge
UX/UI Upgrades + Enhanced Security + Stability
Trusted Validator Program
We’re Hiring!
Taebit Beta Testing
Taebit Public Launch

If you missed the live AMA, you can still watch it: here

Q2 2022 Updates

Recent Listing on MEXC

DARC is now available on Raydium, Osmosis, and MEXC Global
Trading Pair: DARC/USDT

Design Upgrade for Konstellation Bridge

The Konstellation Bridge has been redesigned to enhance the user experience. There are a few key features that have been added to maximize efficiency and ensure that functionality is maintained under any conditions.

Updated transaction parser
Updated method of handling unsuccessful transactions

UX/UI Upgrades + Enhanced Security and Stability

Konstellation has upgraded its UX/UI and mainnet to enhance security and stability in its ecosystem.

Cosmos SDK v0.45 Upgrade

Increase maximum character limit from 5K to 10K characters for proposals
Reduce the RAM usage
Speeds up IBC migration times

Konstellation UX/UI Improvement

Improvement of UX/UI (Main page/Explorer/Bridge/Hubble)
Minimize bugs and errors in the browser
Loading speed is more efficient — from 6 seconds to 1–2 second(s)

Trusted Validator Program

The foundation will be giving more power to our validators, in order to be more decentralized. Currently, Konstellation is offering a program called the Additional Incentive Program — it aims to recruit new validators to the Konstellation Network.

There will be a selection process — please email us at info@konstellation.tech for consideration.

In the email, please attach the following:

Introduction
Experience(s)
Portfolio — past/current nodes

Through this program, we will be able to empower our validators to delegate and validate the DARC token.

What are Taebit and Alkemy?

As a part of the Konstellation ecosystem, Taebit is the world’s first decentralized FOREX DEX allowing censorship-proof access to the global financial markets. Taebit is integrated with Alkemy and allows users to trade any type of stablecoin denominated to any currency with no barriers to entry, minimal fees, low slippage, and deep liquidity. All the features mentioned above are possible by Inter Stable Swap(ISS), which creates the most efficient decentralized swap feature that allows the users to trade any currency regardless of the liquidity of that currency.

The Relationship Between Taebit and Alkemy

Taebit is the decentralized exchange(DEX) powered by the Forex market. This Forex market has required the implementation of the Alkemy protocol which is the stablecoin minting engine. Taebit allows Alkemy stablecoins to have a market rate that is optimized by ISS.

For more information, visit the Whitepaper of Taebit and Alkemy

Dynamics of Alkemy Stablecoin Engine

Alkemy stablecoin engine uses a Hybrid mechanism that requires USDC collaterals and Alkemy native token, PRIMA for minting. The balance ratio uses an algorithm that makes the ratio responsive and dynamic to market conditions in order to protect pegging.

The Relationship Between $DARC and Taebit

Federated Quantum Governance: This governance system allows the swap of token governance between Konstellation and its ecosystem. DARC holders can participate in Taebit governance and earn rewards.
The Fee Mechanism denominated in DARC on Taebit: The users denominated DARC for their fee payments can get discounts.

Taebit’s Bug Bounty Program

Taebit launched ARTEMIS: Bug Bounty Program. The purpose of the Bug Bounty Program is to mitigate any future risk to the TAEBIT platform and improve the overall user experience and to stress-test the TAEBIT system before the public launch.

Testing period: September 15, 2022 — September 25, 2022
Reward pool: 500,000 $DARC (~$8000 USDC)
To participate, visit Taebit’s Discord

Taebit’s Public Launch: Early Q4 2022

Konstellation is Hiring!

Urgent:

Send your CV/Resume to HR for consideration:
dongwhan.kim@vegaxholdings.com

(To see the rest of the opening positions, visit the Notion page)

Next AMA

Partner AMA with Bruisers Calls
Over 65,ooo community members in the DeFi space
Date: September 30, 2022, 2022 (Friday)
Time: 9am — 9:30am KST

If you have any further questions, feel free to reach out to us by email at info@konstellation.tech or Telegram.

✨KONSTELLATION Network is a blockchain protocol, built on Cosmos Network SDK, creating a global infrastructure for the future of the decentralized capital markets.

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