Kylin Network Monthly Report #3

Dear Kylians,

What a month that was! And it is time for a recap. (Sorry we are a bit late on this but we have an excellent excuse: an epic launch!).

If you pull out a price chart, you will find the overall trajectory of the market still very positive, although with some bumps along the way, which is inevitable as a result of the innate built-in unpredictability of the world.

However, hardly can anyone say the crypto world is a niche now. The upward trajectory has been accompanied by the biggest names on the planet putting out different narratives about the prospect of this space, ranging from Elon Musk’s manic support, the cautious thoughts of Ray Dalio, Warren Buffett’s famous Bitcoin to rat poison comparison, the tangible initiatives taken by Jack Dorsey, and to Bill Gates’ alarm on Bitcoin consumption. There are more but you get the gist.

Why the above? Because that is how we perceive Kylin Network. We believe we are on the right path, and that is not because we wallow in self-delusional imagination, but instead, we are rational enough to know that, for a certainty, difficulties lie ahead, but we will do what we have to do to triumph over them.

Despite all the efforts and caution we took to cater to different participants and diversify the risks, it would be lying to say we made every one of our $KYL supporters happy in the past month. It was a good problem to have but still a problem to solve.

However, our resolve to achieve what we set out to do has not changed a bit, and the following lists the proof.

Private Round

In the private round fundraising, we collected a total of $2.7M in funding at a $30M valuation from Free Company Capital, Digital Finance Group, Longhash, Master Ventures, Dealean Capital, Blocksync Ventures, Ceras Ventures, X21 Digital, pSquare Capital, Momentum6, CMS Holdings, Rarestone Capital, and AU21 Capital.

The private round was an opportunity to solidify our roadmap and collect more key allies in our journey toward building the data infrastructure of Web 3.0 via Polkadot.

Polkapets

Kylin got a Polkapet! Our Kylin Polkapet is called “Kylin (Flashfire). The primary sale was sold out in under 3 minutes and those holding the card during our snapshot period were subsequently airdropped 500 KYL.

Token Economy Whitepaper

The Kylin Network Token Economy Whitepaper was finally published to our community on Feb 15th where we detailed our vision, product philosophy, and more importantly how $KYL is distributed and functions within Kylin Network.

Launch Prep + Token Launch

For most of February we did constant, dynamic iteration on the optimal launch strategy, settling on a three phase launch we implemented by March 1.

And on Feb 24th the token launch schedule was finally out. The team decided to launch a hybrid token generation event where we utilized different platforms to perform this IDO (Initial Dex Offering)

Phase 1: Whitelist on Polkastarter

Phase 2: Balancer’s Liquidity Bootstrapping Pool (LBP)

Phase 3: Trading on Uniswap

Technical Development

Following the official W3F Grant Milestone Deliverables Guidelines, Kylin Network team had submitted the following sub-milestones with a link to the deliverable itself.

  • License
  • Documentation
  • Testing Guide
  • Kylin Network Oracle Node Module Repo
  • Kylin Network Data Feeding/Miner Repo
  • Kylin Network Datasource Sample Repo
  • Docker Image
  • Kylin Contracts Repo
  • Kylin Market Front-end Repo

For more details, please refer to : https://github.com/Kylin-Network/Grant-Milestone-Delivery/blob/7b3a15db5ccde345f51ba202c031aea93ecaa903/deliveries/kylin-network_milestone_1.md

Partnership Development

On Feb 5th Xangle.io partnered up with Kylin Network. Xangle is the leading global crypto-asset disclosure platform that shares various data feeds regarding on-chain and off-chain data, and Kylin can help Xangle utilize analytical functionalities regarding Polkadot on-chain data.

On Feb 7th PolkaPets teamed up with us to launch our own unique PolkaPet NFT. We, at Kylin Network, feel the potential of NFTs to change the world is massively underrepresented, and we are very eager to kick-start the NFT Revolution.

On Feb 12th we decided to partner up with CertiK, the premier security auditor in the DeFi industry. Together, we innovate on the Kylin data marketplace and data analytics in concert with the innovative properties of CertiKShield. We want to express our special gratitude to our partner in this token launch. Their expertise was, is, and will be very much appreciated.

On Feb 15th Kylin Network announced our partnership with Polkamarkets. This partnership helps to ensure the quality and reliability of data sourcing for markets, disputes, and resolution on Polkamarkets.

On Feb 16th Kylin Network announced our partnership with Bridge Mutual. We are extremely pleased to be working together with them to help drive more robust oracle solutions, and thus better outcomes, for their core product: stablecoin coverage.

On Feb 17th a comprehensive and strategic partnership with Equilibrium was reached where by integrating price data feeds from Kylin Oracles and using Kylin Data Analytics RESTful API tools to perform analytic functions. This partnership can mark a major cornerstone for both projects to collaborate toward becoming mutually beneficial anchor platforms within the Polkadot ecosystem.

On Feb 23rd Kylin Network announced a comprehensive and strategic partnership with the YOP platform. We are only pleased to help support YOP in their vision of a single, easy-to-use interface for a comprehensive platform to bring the concept of yield in crypto to the masses.

On Feb 25th Kylin Network teamed up with Shadows Network, a foundational project in the Polkadot ecosystem through engineering synthetic assets. By integrating price data feeds from Kylin Oracles and using Kylin Data Analytics RESTful API tools to perform analytic functions, Shadows Network can benefit by driving robust and comprehensive results for some of its functions like stablecoin collateralization and debt conversion.

Community Development

On Feb 10th Kylin Ambassadors Program (KAP) was introduced and we are proud to present to you our first three apprentices for the KAP:

@Danrun, founder of Moon Boots Capital and Moon Boots community

@peteranh910, founder of CryptoVN Group

@GuglielmoRuffo, manager of the Italian speaking Kylin Twitter account: @ItaliaKylin

In the past weeks and months, we have worked closely together to create an awesome and robust community.

Building a Cross-chain Platform Powering the Data Economy on Polkadot

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