Kylin Parachain Auction Update: Unstake DOT
A little over two years ago, Kylin Network set out to build a decentralized oracle for the Polkadot ecosystem. A frequently asked question in the earliest stages was why the team chose Polkadot over Ethereum. Co-founder and CEO Dylan Dewdney explained it like this:
“The issue is technical — it’s a sequential chain on Ethereum: everyone is in line to get their lunch at the cafeteria, which tries to serve a variety of ok food at once to the broadest possible audience (and as anyone who has tried the meatloaf will know, it’s ok, but nothing amazing). The parallel-ness of Polkadot is more like a bunch of food trucks that share a power source and serve each person in a specific way to their needs: taco truck, burgers, Chinese, etc., etc.’
It didn’t take long until the team discovered the OCWs provided by Polkadot were actually fulfilling the role of ‘Oracle’ for the Polkadot ecosystem. But instead of looking at this as a setback, Kylin Network realized this would open up tremendous opportunities. From that point on, they changed the narrative of building ‘just an oracle’ to focusing on delivering an entire decentralized data infrastructure. And with that, the abbreviation DeData was born.
While most people viewed Kylin Network as the Chainlink of Polkadot, the team started to communicate a much bigger picture. They are building a cross-chain platform that will power the Data Economy on Polkadot. It will be the Data Infrastructure for DeFi and Web 3.0 powered by Polkadot, including data analysis, a decentralized data oracle, and a data marketplace.
This did mean the need for a strong community was big. Securing a parachain on Polkadot means a project like Kylin will have to join the parachain auctions and show they have enough support from the community by putting up enough DOT tokens to win the auction.
The team managed to onboard strategic investors that are willing to help out. Together with the support of our community, we believe this will enable us to win one of the upcoming auctions.
That being said, we are happy to announce that time has come! So we would like to inform the community to unstake their DOT! We’re likely to join the auctions for slot #26, which means bidding starts on the 28th of August.
The team will deliver the crowdloan details in the coming days, so we would like to suggest keeping an eye on polkadot.js.org and our official channels to stay updated on all the latest progress!
We have said this before and will keep saying this: we are very proud of our community, things haven’t always been easy, but you guys stuck by our side and kept supporting the team. Thank you all for that!
Go Crowdloan, Go Kylians!
About Kylin Network
Kylin Network aims to build a cross-chain platform powering the data economy on Polkadot. It will be the data infrastructure for the future DeFi and Web 3.0 powered by Polkadot. Kylin Network will provide accurate, reliable, secure, cost-effective, and easily-coordinated data sources and data analytics.
Originally published at https://kylin.substack.com on July 31, 2022.