Monthly Technical Update: June 2022
Hello Kylians!
As promised in the maiden edition of the weekly update, team Kylin will be publishing a Monthly Technical Update that covers all technological progress made by the development team led by Sylvain Cormier, Technical Lead at Kylin Network.
This update is a revision of the previous month’s accomplished work and a synopsis of important accumulated information that outlines tasks that need immediate attention or information that will guide the direction of future development.
General Technical Update
Onboarding to Kusama: After the voting process to reset the chain was accepted and initiated, Pichiu successfully started producing blocks on the Kusama Network.
HRMP with Acala’s Karura: 5 $KSM send a deposit, and 5 $KSM receive a deposit is needed to proceed with interchain token compatibility. Since Kusama is a paid staging network, a pool of working KSM will be required in order to accomplish this. This is just an example of the fees required for daily operations on Kusama compared to Rococo.
The pool will be provided by the Kylin Network founders, from the project’s treasury.
Missing pallet: Try runtime pallet is missing from our node. A task has been added to this effect.
Substrate version: To diminish the amount of debugging required while developing, the node version should always be kept to the latest substrate version. A task has been added to this effect.
Oracle and DeData management system design
Development milestones
To access the substrate builder's program, the Kylin development team must elaborate a set of milestones that will outline the development content over a selected period. This exercise has allowed us to redefine our needs as a configurable Oracle and DeData management system.
Whitepaper
Missing sections:
- Leveraging Polkadot reputation systems
Oracle contributing entities are potential attack vectors that could be punished for wrongdoing by the substrate’s elaborate reputation system. We need to investigate this as a possibility. - Leveraging other Parachain functionality
The oracle and DeData management system is elaborate, complicated, and could take several years to build. Other chains have already developed components we can use through XCM instead of having to make everything ourselves. Parity and the W3F have agreed to help us create a strategy for doing this and will be reviewing our white paper with this in mind. - Fees, rewards and tokenomics
As the new architecture designs scale and gains traction, a model for revenue streams is emerging but still needs to be confirmed.
Missing components identification
- During writing the whitepaper and coming up with critical milestones, needs that could be immediately worked on were identified. With this in mind, the following development was initiated as follows:
Democracy pallet
This pallet will be needed to fulfill our role as an ethically sound oracle to the Polkadot ecosystem. To preserve the ethics of other chains operating with this functionality, Kylin must also operate in this sphere of democratization. This pallet will initially allow us to verify our data streams through a democratic process.
Circular buffer for determining ultimate values
A task has been assigned to install a primitive circular buffer. This buffer will take in values from reporters and be initially averaged to determine the most correct price value.
Blockchain Oracle Conference
This was a great time out at the Blockchain Oracle Conference, Berlin 2022. It was a gathering of best practices from existing projects. We interacted with the tech team behind some of the top projects in the space, like Uniswap, Chainlink, Consensys, Kleros, Tellor, and several others.
Standards: We have joined the Alliance for decentralized Oracles https://github.com/adoracles/EIPs/blob/851003d89e2 2362.md Next meeting is on 07/12/2022 at noon.
Polkadot Hacker House
Kylin attended hacker house and did the following:
Democracy Pallet: We obtained help to install the democracy pallet. Work still in progress.
Kylin Configurable Oracle system presentation: The presentation on Kylin's configurable oracle and DeData market was well-received and stimulated interactions between Kylin team members and the rest of the project community.
Polkadot Decoded
W3F review
Promised revision of the white paper and help us attain the goal of becoming an active and necessary member of the parachain community.
Parity involvement
The need for an oracle system is lacking in the Polkadot parachain ecosystem, and parity has vowed to help us attain this goal by facilitating communications with parachains
Meeting with Parachains
Meetings with other parachains tech leads and developers in order to help define potential collaborations.
$KYL to $PCHU Swap
The Kylin development team is currently testing swap mechanisms in order to execute a seamless $PCHU airdrop to $KYL holders. We looked at several compatible smart contract alternate routes that would airdrop the Canary Network tokens $PCHU to existing ERC-20 native $KYL token holders, and importantly, execute the 30:1 conversion between both token.
A more detailed guide covering the swap will be published at the appropriate time.
Archive nodes
In order to survive potential DDOS hacks and ensure persistency, a third party should be running archive nodes for Kylin Network.
Crowdloans
CrowdLoan reward distribution tool developed, but contributor rewards are not yet issued.
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.
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