Kylin Weekly Update — Week 2: Block 13,219,200
Kylin News
A big week awaits Kylin Network ahead of onboarding its Canary Network token $PCHU to the Kusama Network. Details of the $PCHU snapshot, airdrop, tokenomics, and more will be released soon. Are you excited? Because we are!
Let’s dive in!
Onboarding to Kusama
The Kylin team and our incredible community have worked hard towards getting onboarded to Kusama. First, was the enormous support in securing the Kusama parachain slot via Crowdloan. The community put their money where their mouth is by locking $KSM to help secure a parachain slot. This will enable the Kylin engineering team to experiment, test, and validate core use cases Kylin Network hopes to bring to Polkadot in the near future.
The path to Kusama wasn’t without challenges, as the engineering team endured some setbacks. Incorrect root and endowed accounts and the inability to upgrade the genesis runtime and update the Pichiu tokenomics were some of the challenges the team faced. To solve this challenge, a Proposal was made, and the ever-supportive community voted and moved it to Referendum 205. This needed voting, and again — you guessed it, our community showed up in masses, and the referendum passed in a super-majority vote.
And now, we’re super excited to have the community’s faith rewarded by having Pichiu onboarded on Kusama. At block height 13,219,200, Pichiu was onboarded to Kusama, and now, we’re producing blocks. With that being said, we’re proud of how far we’ve come as a project, as we look forward to the future with optimism, despite the market conditions as we BUIDL The Essence of Truth for the New Web.
And We’re Live!
Updates on Pichiu Snapshot and Airdrop
Pichiu will be released on the Kusama Network at block 13,219,200, and our parachain will be live. After this event, an undisclosed amount of snapshots will be taken of $KYL token holders. To be eligible for the $PCHU airdrop, you’ll need to hold your tokens in a non-custodial wallet like Metamask, Trust Wallet, Coinbase Wallet, Ledger Wallet, or be staking on https://staking.kylin.network/.$KYL tokens that are staking and the unclaimed rewards are both eligible for the snapshot. $KYL tokens that are being held on exchanges will NOT be included in the snapshot.
To host the $PCHU airdrop, the team will build a dApp that $KYL token holders can use to link their ERC20 wallet in which they store their $KYL tokens to a native Polkadot.js wallet. When we join those two datasets, it will identify which polkadot.js holders are entitled to the $PCHU airdrop. This means only people who link their ERC20 wallet via the dApp to a native Polkadot.js wallet will be eligible for the airdrop.
In the coming days, a more detailed Medium article will be published that will clarify the tokenomics, holders and lock drop rewards, $PCHU listing, milestones and many more.
Updating Resources — New Direction
Since the Kylin Network announcement post went live in September 2020 as a project, there has been significant growth over the past year and a half. Over time, a lot has changed; there have been several iterations of the website, our messaging, and other resources. In all the updates and improvements made by the team, the core tenents remain: building a DeData infrastructure to feed complete, accurate, and validated data to DeFi and all things Web3.0 on time and reliably.
We are proud to inform the community that there has been improvement in the architectural framework design on how Kylin Network hopes to develop a more efficient Oracle that is novel to existing oracles. The Project’s Tech Lead, Sylvain Cormier, leads this initiative. The Blockchain Oracle Summit Berlin 2022 was an excellent opportunity to field our ideas and get feedback and responses from the Oracle community. During this time, we used it to learn further and understand the best practices utilized by other projects tackling the $ 4 billion valued MarketCap of the Oracle ecosystem.
In the coming weeks, we will be releasing a new and updated Whitepaper, Pitch deck, Project-Wiki, OnePager, tokenomics, roadmap, and new marketing positioning. Please, stay connected to all our platforms for regular updates as we unveil the new direction Kylin Network will be taking.
Press Mention
Kylin CEO Featured in an Interview on Surviving the Bear Market
Dylan Dewdney, our Chief Executive Officer, had a chat with CryptoWise about Kylin’s strategy to survive the ongoing crypto winter. Questions ranging from Kylin’s Pichiu Parachain launch to treasury, tech talent retention, collaboration with other Dotsama projects, and many more. Watch the video here.
Cool Kylin NFTs with Utility:
Check out a sneak peek of the integration of Flash Fire (Kylin NFTs designed to reward OG $KYL holders) to PolkaPets, which is part of our continued effort with SandBoxGames via our partners MetaPrints in the creation of a unique social Hub experience that features us and other partner projects in Dotsama. Find out more about this here.
Kylin Network is mentioned as one of the Polkadot Projects to Watch
In this interesting article published a few months ago, Kylin Network was mentioned as one of the Polkadot projects to watch in April. Although the Bears are biting hard, the team is poised to continue buidling, as this winter season is only a test. Read more about the article here.
Kylin’s New Operations and Marketing Lead Shares Experience
Our new COO/CMO shares his first-hand experience and point of view about the project, the community, and a couple of other topics. Check out the Tweet here.
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 valid, reliable, secure, cost-effective, and easily-coordinated data sources and data analytics.
Join our Communities
Twitter: https://twitter.com/Kylin_Network
Telegram: https://t.me/KylinOfficial
Telegram Announcement Channel: https://t.me/kylin_announcement
Medium: https://kylinnetwork.medium.com/
LinkedIn: https://www.linkedin.com/company/kylinnetwork./?viewAsMember=true
