Kylin’s Canary Network Pichiu Secures a Slot on Kusama
Pichiu (Pixiu) — are considered powerful protectors of feng shui practitioners, and resemble strong, winged lions, similar to a Kylin (Qilin), but more mischievous and with the ability to fly!
We are very thrilled to officially announce that Pichiu, Kylin’s canary network, managed to lock up enough KSM tokens to successfully secure slot 31 on Kusama! The tenacity and determination of the team and community to persevere through no less than 6 auctions until finally winning on this 7th attempt is unprecedented! We all deserve to give ourselves a pat on the back and this effort reflects a project that is unflappably determined to succeed over the long run.
No word can express our gratitude for your love and support!
As Kylin Network’s experimental field, Pichiu aims to build a cross-chain platform powering the data economy on Kusama. It will be the data infrastructure for the future DeFi and Web 3.0 powered by Kusama. Pichiu will provide valid, reliable, secure, cost-effective, and easily-coordinated data sources and data analytics.
As for Kusama, it is an incentivized testnet for Polkadot. Many people consider it as an experimental space where developers try out their dApps, make iterations, correct and learn from the inevitable mistakes, and finally get ready for the full rollout of Polkadot.
The future is multi-chain.
The parachain allows the slot owners to access the broader ecology where a group of like-minded people is communicating the building strategies, sharing resources, and ultimately working toward a common goal — cross-chain communication and blockchain interoperability. Pichiu winning the auction is a solid step towards this goal. Again, We would like to THANK YOU for your love and support.
Pichiu Crowdloan Reward Distribution
→ 1 $KSM will get you 350 + 200 + 888 $PCHU = 1438 $PCHU
Vesting and Limits
→ 30% will be released at TGE
→ 70% will be released by block over duration
→ 50K $KSM Loan Cap on the crowdloan
This is a crowdloan; you get your KSM back after the period of the parachain lease has ended, which is 48 weeks (one year from the opening of the crowdloan slot auctions).
How long Before $PCHU Airdrop?
After securing our Parachain, we expect approximately 60 days for the dApp to be completed for the linking of ERC20 wallets to Polkadot.js wallets, to receive the airdrop of native $PCHU.
The Plans After
- The Pichiu parachain will enter the Kusama Network in the near future.
- As mentioned, Pichiu is the canary network of the Kylin Network. Its sole purpose is to help lay the groundwork for our ultimate goal of building a data blockchain that helps to provide assurances of truth and factuality for all.
- In the future, Kylin Network will apply for and win a parachain slot on Polkadot.
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.