top of page
WebbPro (3).png

WebbPro.Design

Looking for a partner in

digital ? 

1.png
transparnet.png

By

Digital Marketing Manchester

'Professionals Review' from WebbPro.Design is our new, exciting blog that covers all the latest trends and insights in news, business, digital marketing, tech, lifestyle, and more. Written by industry experts and professionals, our blog is the ultimate source of insider knowledge and expert advice. Whether you're looking to upskill, stay ahead of the curve, or simply explore new horizons, Professionals Review has got you covered.

Search

The biggest Oracle on Polkadot!

We're super excited to introduce this next gem & you will be to. You may of already heard of it as it is quite big & that's for good reason! We see this as a big player for the future. It's comparison that influencers are spreading is that it's like the Chain Link for Polkadot.


Before we start, we hope you enjoy the article! If you want to see more like this join our telegram group: https://t.me/ProReviewGems


So here we go..


Introducing, Kylin Network.


What is it?


Kylin Network is an oracle project building a cross chain platform powering the data economy on Polkadot & to us are the number 1 oracle project being built on Polkadot.


The network offers any applications & blockchains (such as parachains & parathreads) instantaneous but reliable and valid on/off-chain market data and social data sources by leveraging the power of Polkadot/Substrate Framework on open networks.


So to be a part of Polkadot you have to have your own parachain or a parathread that's attached to another parachain. Kylin will be able instantaneously offer those parachain projects valid on & off chain market data & social data sources.


For this they have Data Analytics & a Data Oracle and also offer the following with their marketplace and KYL token:


Kylin Data Analytics - is a combination of analytic tools designed for data warehouses. It provides a query engine and RESTful API for third-party applications and external analytics tools.


Kylin Data Oracle - is an advanced decentralized data feeding protocol powered by Polkadot/Substrate offering multiple, real-time data sources with complementarity to and synergy with off-chain workers.


Kylin Data Marketplace - is an open platform for data exchange and pricing. Dapps built on Polkadot can easily and efficiently collect both off-chain and on-chain data only paying a very competitive fee.


Kylin Token $KYL - is the native token of Kylin Network which will play the role of governance and other utilities. $KYL is necessary to secure and power the decentralized data network.


The Kylin Data Oracle has the following:


Data Warehouse - on chain repository of integrated data from one or more data sources.

Oracle Node - Handles social & market data.

Arbitration Node - Guarantees security & accuracy of external data through verification provided by the Oracle Node.

Blockchain Node - The validators that secure the Kylin Blockchain built on Substrate.

As you can see this is going to be a huge Data power house! And what's big with these oracle projects is that any smart contract network is using data and that data needs to be verified which is why they're so vital!


That's enough technical talk for now, let's look at the Token Economics.


Token Economics


The Kylin Network Mainnet token KYL is necessary to secure and power the decentralized data network. The use-cases and utility of KYL include but not limited to:


Stake to be a Miner or Arbitrator All miners are required to stake KYL with a higher stake equating in a high probability of being selected to fulfill data requests.


Intermediary of Exchange KYL tokens will be used to pay as a transaction, query fee, and also for data access behind paywall (private APIs).


On-chain Governance KYL Token holders are able to vote for the protocol upgrades and parameter changes on Kylin Network.


The Team


They're public and you can check out all of their LinkedIn profiles on the Kylin website. As a quick overview we can see that they have a lot of experience in their respective areas. There's a lot to look at so we recommend you do your own research into who they are and what they have previously done! Overall they have a solid team & advisors in our opinion.


Another huge positive is the amount of strategic investors they have, publicly shown they currently have 10 at this point. Each bringing something different to the table. These can be seen on their website for further information: https://kylin.network/


Partnerships


Ready?


Kylin haven't even launched yet but they have some big name partnerships & probably the most partnerships any Polkadot project has seen to date!


Why is this? This is because any project using smart contracts (which is all blockchain projects on Polkadot) you're going to need an oracle provider & it looks to be that Kylin is going to be the preferred choice! Yes, this is big!




So that's what it is, we'll be able to take a more in depth look when the platform launches. Let's delve into their tokenomics.


  • Total max supply is 1 billion tokens.


Their distribution plan can be seen below. Don't worry we're going to look at this a bit deeper.


Seed sale - Venture firms & investors - Only 6.25% will be unlocked this week at public sale time.

Private sale has 9% of the total supply of which 20% will be unlocked at the public sale time.


Investors and people who get in at the very start such as the two occasions above, will most likely take some profits early on. This is something to watch out for with every project. Knowing how much could be dumped initially is good to know so you can gauge what the price may do. So knowing this with Kylin we can see that only 6.25% of the seed sale & 20% of the 9% allocated for private will be unlocked on launch.


We know that eventually they'll be 1 billion in supply but at the start there is going to be very little on the market especially if the seed & private investors don't sell. For example if no-one sold there would only be 1.5% of the total supply available on launch. So there won't be much available at the start!


Something to note, seeing that a project is supported by the web3 foundation grants programme is a good sign! This means they have been accepted to receive a grant on the proposal Kylin has sent in.



Kylin has 3 phases of sales.


The first was on Polkastarter which has now ended.


The second is using a Liquidity Bootstrap Pool on Balancer and this is live now for another few hours. If you've never used an LBP we suggest you check out how they work before jumping in. The design of the LBP tends to keep the sale price fairly even (or slightly declining) during the sale. However, this depends on the market buying pressure, which can only be estimated until the sale actually begins. If you have a really great project, or strong marketing, it is possible for buyers to "overpower" the weight changes and make the price drift upwards.


Conversely, if there is too little buy pressure, the price might drop faster than expected.


Balancer LBP Link: https://t.co/MCzxAiCkht?amp=1

$KYL Token Swap Link: https://t.co/K1LDoJvuSh?amp=1


The third phase is on Uniswap on the 5th March. Which is also when the tokens from phase 1 and 2 will be unlocked.


Looking at previous projects on Polkastarter we can see the worst performer was Butterlfy, its all time high was 23% its initial price at the start and now only sits at only 2.3%.


The best performer has been Polkamartkets which went up 155% it's initial price and now currently sits at 91% its initial price.


$KYL initial list price: 0.05 cents


So if we use these two most/best case scenarios we have a gauge of what it can do!


Based on this the lowest price we'll see is: 0.12 cents, only a 2.3% higher the initial start price & the highest price we'd see is $7.75 (going off how well Polkamarkets did).


So now we know the price is going to be between 0.12 cents which will be the absolute lowest we'll see it at and $7.75 if it does as well as Polkamarkets (Which we believe it could even beat!) The price on the LBP is currently at $1.56 much higher than anticipated showing to use the interest in this token.


I hope you have enjoyed the article and this has given you a good insight into this big project for the future. Kylin without a doubt is going to be a household name. All of which we have said is not financial advice! Please do you own reading on any project!


Please be careful on Uniswap on any launch! The risks are high & you could be paying the highest price the coin ever reaches! If you love a project and want to be a part of it for the future we would hold off for at atleast 40 minutes.


We hope you enjoyed the article! For more like this & new gems daily join our telegram group: https://t.me/ProReviewGems



Contract Address: 0x67b6d479c7bb412c54e03dca8e1bc6740ce6b99c






Comments


bottom of page