Kylin Weekly Update — Week #3: BUIDL

Covering everything Kylin from June 21 — June 28

Kylin News

These are exciting times for the Kylin Network community. We successfully onboarded to the Kusama Network, which resulted in the production of blocks on the chain. Now, the team is poised to deliver working products, firstly on Kusama, then Polkadot after we win a parachain slot via the auctions.

Time to BUIDL

As stated in last week’s community update, once Pichiu is released on the Kusama Network on the designated block 13,219,200, an undisclosed number of snapshots will be taken. Based on the amount of $KYL held in various non-custodial wallets, an amount of $PCHU tokens will be airdropped accordingly as per the calculations agreed in the medium article once wallets are linked via a dApp.

Among several things being worked on by the development team, one of them has been a dApp that is undergoing testing, which will aid the airdrop and calculation of ERC20 $KYL tokens for $PCHU.

To avoid being left out in the $PCHU airdrop, hold your $KYL tokens in a non-custodial wallet like Metamask, Trust Wallet, Coinbase Wallet, Ledger Wallet, or be staking on https://staking.kylin.network/.

Communication with Substrate Builders

The Kylin development team regularly corresponds with the Substrate Builders program, and our development milestones have been put forward to the substrate builders. We are anticipating feedback from them. Understandably, the Dotsama ecosystem is sort of at a standstill due to Polkadot Decoded happening this week. Please keep your eyes peeled for content as we will be making an appearance at the event.

We have a checklist of things to aid our development once onboarded to Kusama Network, and they include:

- Ensure that Pichiu starts producing blocks

- Deploy a backup node to make all data secure

- Assign balances to various accounts, such as the rootAccount, and crowdloanAccount

- Upgrade Pichiu runtime to support cross-chain token transfers with Acala
- Distribute crowdloan contributors rewards (TGE and vesting)

Kylin Unlimited

From the onset, Kylin Network has set out to create a Decentralized Data oracle feed that solves the problem of accessing expensive off-chain data, querying, and analytics. Centralized validation of blockchain data, and limited compatibility with off-chain data sources, are some of the challenges Kylin hopes to tackle. The Polkadot/Substrate framework then ensures the cost-effective solution that data consumers and developers prefer over existing centralized solutions.

In the development of the web3 version of the magical beast native to China — Qilin, which possesses the ability to look into a person’s soul and unveil if they were indeed pure of heart. The project has grown over the past year and a half of building the machine of truth. In that time, we have learned that an Oracle should be able to perform the following:

• Listen: Poll for data requests
• Extract: Gather information from external APIs
• Format: Make blockchain data compatible
• Validate: Ensure that data is impartial and correct
• Compute: Perform computation too demanding for blockchain resources
• Broadcast: Make data available to entities requiring it.

In doing so, Oracles should deliver data to the best:

• Accuracy: Should be more precise and less approximate
• Validity: Should correspond to the real world
• Reliability: Should always be available
• Timeliness: Should not be out of date
• Relevance: Should be pertinent and useful
• Completeness: should be whole and useful

With all these in mind, Kylin Network is poised to develop a configurable framework for democratically creating and managing Oracle system entities. The integration, update, or removal of any component or entity in the Kylin framework is designed to be under the Kylin community governance, which includes:

• Submission of Data Feed
• Report Registration
• API Registration
• Arbitrator & Keeper Registration

Kylin Around the Web

Team Kylin In New York:
Our Strategic Lead Dylan Dewdney (middle), who gave a talk today at NFT NYC 2022, Tech lead Sylvain Cormier (right) & Co-Founder Kevin Hsu (left) were all in New York—spreading the word about Kylin’s DeData Infrastructure and Dynamic NFTs. Find out more here.

Outstanding Oracle Projects:
Kylin was mentioned as one of the Outstanding Projects Providing Oracle Services, alongside other leading projects. Find the tweet here.

Team Kylin will be at Polkadot Decoded.
As confirmed by the Kylin Operation and Marketing Lead in a tweet, the Kylin team will be making an appearance at the Polkadot Decoded. Sylvain Cormier, the projects Tech Lead, will be joining Polkadot Hacker House today. Keep your eyes peeled for more details ahead of the event.

Follow Pichiu’s action with this on-chain data tracker of live parachains, chain connections, and tokens.

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