Q4 2023 Progress Report

Komodo Team
Komodo Team

Q4 2023 Progress Report
Table of Contents
Table of Contents

Stay informed and dive into our Q4 2023 recap from the Komodo team. We are on a mission to connect and bridge all blockchain protocols. Follow our progress and join us as we develop cutting-edge DEX technology.

Fiat On-ramp Now Available on Komodo Wallet (web)

With the release of Komodo Wallet (web) v0.6.0, users now have two fiat on-ramp service providers.

The first provider is Ramp, a platform that is available in 150+ countries and regions. Ramp Network supports 40+ fiat currencies and 90+ cryptocurrencies.

The second provider is Banxa, a platform that has processed approximately $3 billion in transactions to date and processes a new transaction every four seconds on average.

Both providers support bank transfers, Apple Pay, Visa/Mastercard cards, and various other providers allowing users from different regions of the world to buy crypto with their local fiat currencies. Supported payment methods vary by country/region.

NFT Feature on Komodo Wallet (web)

Komodo Wallet (web) now supports non-fungible tokens (NFTs). The NFT feature allows web app users to send, receive and view the transaction history for their NFTs on supported blockchain networks. The list of networks currently includes Ethereum, Polygon, BNB Chain, Avalanche, and Fantom.

Users are now shielded from phishing and spam NFTs via the address poisoning filter. NFTs detected by our systems as malicious or spam will be hidden from the user’s wallet.

KMD Burn Program

On December 12, we announced the details of the KMD burn program. Now each time that a user trades KMD on Komodo Wallet’s DEX as a market taker, 25% of the DEX transaction fee goes towards automatically burning KMD. There are zero DEX transaction fees for market makers on Komodo Wallet’s DEX.

It’s crucial to understand that the KMD burn program doesn’t increase or decrease the total amount of fees the market taker spends. The fee amount remains the same as before; only the way of using the collected fee changes.

Komodo DeFi Framework 2.0 — NetID Migration

The Komodo development team recently refactored (optimized) the entire network infrastructure of Komodo DeFi Framework, which is used by Komodo Wallet’s decentralized exchange (DEX).

This upgrades Komodo Wallet’s DEX to the latest stable version of libp2p and introduces a streaming data capability that allows apps to subscribe to DeFi Framework events in order to receive real-time updates on blockchain (and DEX) activities, including the notification of new transactions or blocks.

As expected, this upgrade includes breaking changes at the DEX network layer which are not backwards compatible. As a result, any peer using the old DEX network layer will not be able to communicate with a peer using this new layer.

Market makers should update their NetID configuration ASAP, and app users should update to the latest app versions.

Komodo Daemon Update — v0.8.1 [Falkor]

On November 20, 2023, we released the latest version of the Komodo daemon.

v0.8.1 [Falkor] is a mandatory update, incorporating significant security enhancements, code optimizations, and various improvements.

It's imperative for anyone who runs the Komodo daemon to update to this latest version ASAP to maintain the integrity and remarkable performance of the Komodo blockchain ecosystem.

Komodo Wallet Giveaways/ Contests

We ran several contests on X throughout Q4 2023, including three co-marketing campaigns with projects listed on Komodo Wallet.

Komodo Wallet <> PIVX contest — rewarded $200 in $PIVX

Komodo Wallet <> Qtum contest — rewarded $200 in $QTUM

Komodo Wallet <> Electra Protocol contest — rewarded $500 in $XEP

Komodo Wallet <> Holiday contest — rewarded $200 in $USDT

App Releases

Komodo Wallet (web) v0.6.0 and v0.7.0

The latest version of our web app went live on December 24. This release includes several important updates, including the addition of a fiat on-ramp feature, NFT wallet feature, improved DEX network layer, significant performance enhancements, and more.

Komodo Wallet (desktop) v0.7.0

The latest version of our web app went live on December 24. This release adds support for 27 new cryptocurrencies, implements the KMD burn program for desktop trades, and completes the NetID migration/ DEX network layer upgrade for desktop users.

Komodo Wallet (mobile) v0.8.0

On November 23, we released Komodo Wallet (mobile) v0.8.0, which brought a myriad of enhancements, bug fixes, localization updates, and UI tweaks aimed to improve ZHTLC/general user experience, ensure consistent performance and maintain the app’s stability.

PR and Third-Party Website Coverage

Our biggest PR campaign of Q4 2023 was the fiat on-ramp announcement. Komodo CTO Kadan was interviewed for two feature stories, wrote ten OpEds, and provided commentary on seven crypto news stories.

Feature Stories



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