Kylin Weekly Update #9: Progress
It has been an intense couple of weeks since our last community update. Since then, we accidentally joined a parachain auction ahead of our anticipated schedule. Led the parachain auction for slot #24 for some time before our position was usurped by Parathread 2057, who went on to win the auction.
During this time, we had some uproar in the Kylin community and the wider Dotsama community as members expressed their dissatisfaction with how the parachain auction was being executed. The perceived rewards, the lack of communication, and many more. This led team Kylin to make a statement to address the community’s concerns.
A couple of hours later, the team shared details of the parachain crowdloan, detailing plans of Kylin once granted a parachain on Polkadot, and more importantly, a revised and much-improved reward for DOT loaned to the project. The community received this well, and it has been smooth sailing.
Pichiu KSM Crowdloan Distribution Details
The team also published details of the KSM/Pichiu crowdloan distribution to crowdloaners that helped Kylin’s Canary Network - Pichiu secure a parachain slot on Kusama. And in less than 24 hours after the post was published, several community members confirmed receipt of their PCHU tokens.
Next up, KYL holders will receive their PCHU airdrop any time now. The tech team is working on seamlessly linking the ERC20 wallet to a substrate-based wallet to ensure eligible wallets receive their airdrops.
Ongoing Parachain Auction
Yesterday, a tweet thread was posted from the official Kylin Twitter account, detailing a progress report of the ongoing parachain auction for slot #25. Kylin Network is currently in pole position to win the auction for the #25 parachain slot, with 85% leading block. This is due to the community's enormous support to make this happen.
Kylin Network has hit its set max cap of 150,000 DOT, making Kylin the 3rd project in the history of Polkadot to accomplish this feat. Only Moonbeam and Efinity have achieved this, maxing out their crowdloan cap.
ERC20 Staking Pause
With reference to a tweet thread shared on the Kylin official Twitter page that announced the commencement of the staking program. The third tweet reads
“The provision, though, would be that we would want to clear out the ERC-20-based staking program in due time with the Polkadot Parachain win for Kylin Network and our transition to solely DOT-native status - there will be ample time to assess and plan for that, though!“
With Kylin’s victory on the horizon in securing a parachain slot on Polkadot, we want to announce that the staking program will be paused from September. As we transition to the DOT native status, we may continue the program in the nearest future. Watch out for more updates.
Kylin Around the Web
Kylin Community AMA
The Kylin Community had its first AMA with members of the Kylin Core team for the first in a while; as Tech lead, Sylvain and Operations & Marketing Lead Agbona engaged the community on everything Kylin. The session was hosted by the one and only Community Chief, BullSander. Read the entire transcript here.
Kylin Partners with MetaPrint
Kylin partners with Metaprint and SandBox to bring a new Social Hub Pass. Members of Kylin Network and other partner projects can utilize their tokens to participate in a unique social experience.
Kylin is live on FTX Signal.
Kylin is now Live on FTX Signal (formerly Blockfolio). Now, over 6 million users can directly access Project and team updates, News, the latest prices, and other information on the platform.
Find Kylin Network on FTX Signal with the link below:
Kylin in Futurist Conference
Kylin’s Strategic Lead, Dylan Dewdney, was captured at the Futurist Conference held in Toronto.
Kylin Live on CMC Community
In Kylin’s bid to promote Kylin’s Modular and Configurable Data Infrastructure for all Web3 Middleware, we are reaching out to the broader crypto community. And we believe that CoinMarketCap Community has the reach. Now, you can interact with Kylin’s content on CMC, do give the project a follow here:
The v2 of Kylin x Onfinality $50 Contest is still on.
Stand a chance to win a $50 coupon to spend on the Onfinality platform by entering this contest and completing the needed tasks. Winners will be announced this week.
Find out more details here:
About Kylin Network
Kylin Network is a composable and configurable multi-level oracle infrastructure built as a Polkadot parachain, for the democratization and delivery of accurate data on time, at a reliably low cost.
Kylin offers a way for chain-agnostic APIs to serve data according to service level agreements (SLA) that the consumers of this data will be aware of. Data source compatibility beyond price feeds will bootstrap a free data market.
This will allow market demand to determine the direction of the innovation of a feed, its price, and supply. With dynamic NFTs & SFTs, Kylin is innovatively tokenizing data streams that have been democratically accepted on the Kylin Network.