Kylin Network is extremely pleased to add yet another DeData ecosystem partner: Polkalokr. Polkalokr is a multi-chain token escrow platform, that puts token distribution into the hands of network participants through governance-as-a-service.
This partnership will enable Kylin Network to function as an oracle provider for their platform and we will also explore the locking/distribution mechanisms and other products provided by Polkalokr for potential use in its network.
An entirely new creation: oracle and on-chain query unlocks
Polkalokr will integrate Kylin’s decentralized oracles into their platform as one of their data feeds. Along with a robust selection of price data, Polkalokr will also be able to set locking options around real world events, project milestones and more!
Oracle-driven unlocks — based on project milestones and events, for example — create some exciting new possibilities. Currently, token vesting is time-based, however, we will soon be able to offer the market price-based unlocks where, for example, private tokens don’t unlock until after the token reaches a particular price. Other things can be driven too by the other side of the equation with on-chain querying unlocks, whereby, for example, unlocks can happen as the result of reaching a certain number of nodes, and/or holders.
We are extremely grateful that Polkalokr has chosen us to power and drive some of these functionalities and the synergy is amazing as we consider use cases that are entirely new to both projects and entirely valuable for our communities and crypto as a whole!
Dylan Dewdney, CEO of Kylin Network:
“Polkalokr solves a fundamental, infrastructural issue within crypto in an innovative and efficient way. We are looking forward not only to using their solution, but providing nuanced ways to empower it, for example through event-based distribution of tokens via oracle feeds and on-chain querying unlocks. We are extremely pleased and honoured to be working with the team and truly excited by what’s in store!”
Imran Ashfaq, Co-Founder & CEO of Polkalokr:
Through the integration of Kylin Network’s data feeds, we aim to revolutionise the mechanics of token unlocking and vesting. Oracle-driven unlocks are a significant feature of our platform, and create an infinite number of new possibilities. As it stands, token vest is time-based, however, with the integration of Kylin’s data feeds, we will soon be able to offer the market price-based unlocks. Kylin has also seen some potential uses of Polkalokr’s products which we will be exploring.”
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.
Contact Kylin Network
- Telegram: https://t.me/KylinOfficial
- Twitter: https://twitter.com/Kylin_Network
- Discord: https://discord.gg/PwYCssr
- Medium: https://kylinnetwork.medium.com/
- Linkedin: https://www.linkedin.com/company/kylinnetwork
- Official website: https://kylin.network/
Polkalokr is the first all-in-one, multi-chain token locking & escrow platform with built-in privacy functionality. Our products help build trust within the defi space by removing the human element and focusing on governance through code, with a seamless, omni-channel digital experience platform accessible via mobile, tablet and desktop.