Kylin — Whale Army AMA Session
The Data Infrastructure for DeFi and Web 3.0 Powered by Polkadot
https://kylin.network/
Guest of the AMA session:
Dylan Dewdney, CEO
Q
How does Kylin provide diverse data quering compared to other oracles?
Dylan Dewdney
you have to conceptualize Kylin as operating in two directions: offchain data on chain (chain link functionality), then on chain data off chain (the graph sort of functionality) through the ability to query
^ we can actually do both ^
Q
What was the reason for choosing DOT?
Dylan Dewdney
I’m going to give an extremely personal, intuitive answer to this and also a practical technical one
1) personal reason: I had been pretty dejected over the course of the development of eth over time — i recall hoarding like 1000 eth in 2015 with the idea that yield type staking (and 1000 then was the staking amount that Vitalik bandied around) would be happening like imminently
what i didn’t quite appreciate then and many prob didn;t appreciate was that the basic architecture was a little wanting
so anyway, years passed, and eth 2.0 was always a year away
and many other turing complete layer 1 started to come to the fore
I never really got into them as i noted dev interest in eth was overwhelming
and tbh, just like a crypto depression over the state of the overall global blockchain ecosystem.
then I started investigating oracle stuff, and found it interesting. contemporanously, started looking into dot
Q
1) Where and when will token go on sale?
2) Presale?
3) Avoid dreaded uniswap?
4) Provide possibilities of breaking the new monopolies - ebay Facebook, PayPal amazon etc?
Dylan Dewdney
1) I think late feb is very much in the sights
2) no
3) likely, but I’m sure there’ll be liquidity eventually all the same given the hype that seems on the project atm
4) I think that that’s a pretty confident yes, but will take time
Q
Can you highlight the key functions of Kylin, and why it’s important to the eco-system?
Dylan Dewdney
1) on chain data off chain, off chain data on chain
2) data feeding and consumption
3) data marketplace. Potential to lay the groundwork for an entirely new innovation infrastructure, like DeFi, but DeData
Q
Is presale finished?
Dylan Dewdney
our private rounds are done, yes
Q
What is the number one obstacle you see for Kylin right now and how will you overcome it?
Dylan Dewdney
my pleasure absolutely; parachains, and we will be securing a buttload of dot guarantees in advance of IPO from team, associates, network, investors, and then also devoting weight internally to it and then also community level IPO
Q
What is the partnership with BONDLY? you mentioned in an interview that we will need the BONDLY NFT to get in on the public sale as a social experiment. Can you elaborate on that more?
Dylan Dewdney
we have an ongoing partnership that will work both ways — they will hook into some of our features to drive better decisions for their NFT issuance and automation of some of their features granted on cards (think, for example, validating info through their ability to run queries on-chain (like the graph))
yes, it’s sort of the one way rn to access $KYL in advance of sale. we have an announcement co ing right after this ama with details
Q
Could you give information about Kylin’s strategic partners? In which markets do you plan to develop products? What will KYLIN’s marketing strategy be like for this?
Dylan Dewdney
There are many, atm, overwhelmingly they are in dot ecosystem, and the first ways they are hooking in is taking advantage of low or no cost defi price feeding
Q
what is your roadmap, and where do u hope kylin to be in the next 6 months
Dylan Dewdney
mainnet and our first exciting use cases beyond price feeding starting
Q
How many tokens. Do you need eth or btc to buy?
Dylan Dewdney
we will TGE in ERC-20, so eth is best
Q
With many DOT oracles popping up, not naming names, but what sets KYLIN apart? How do you plan to garner the most market share?
Dylan Dewdney
we are not just an oracle, and we have a great and more fertile ground to build in (polkadot/substrate) in our belief for this kind of solution
Q
You are talking about the superior security quality of your platform compared to other DeFi projects. How sure is the #KYLIN team about the security of the Kylin Platform and the security of user data?
Dylan Dewdney
we feel pretty great about it — we don’t need to reinvent the wheel for chain security and that’s the beauty of building on polkadot — we can leverage the entire security of polkadot
re: user data and privacy, we feel very confident about our design when it comes to this
Q
Any govt partnerships you can talk about? Or work with the UN from the news article that came out talking about UN&KYLIN a month ago?
Dylan Dewdney
I believe you mean the EU observatory, and I expect that one of the use cases to come out of Kylin Labs — validation of election data through hooking in api fro local election results — will be very useful
Q
How is Kylin different from Paralink
Dylan Dewdney
paralink is newer afaik, like a month or two ago. So, newer. I haven’t studied them in much detail, but I think they are the latest “polkadot-based” oracle to come out derivative of our first sort of iteration. again, we’ve moved beyond just being an oracle, though we are still closest to deploying that as our first low-hanging fruit to grab with our POC testnet
Q
What type of users will benefit from the platform, end users vs enterprise, is the data marketplace more geared to enterprise?
Dylan Dewdney
ultimately, i think it’s geared toward enterprise bc people are lazy
so although people could tokenize their genomic data and then sell it to researchers personally, it will take companies, projects, engineers and entities to create the context to accomplish in a few clicks
a big BUT, though, is that I think as we grow the validator program, it could be a very individual thing to validate
Q
If presale is around late Feb, when will listing be? Around April or may?
Dylan Dewdney
they will be very close together
Q
1) How did you get the web3 grant?
2) How many total partnerships do You/KYLIN have so far?
3) An partnerships outside crypto ie with enterprises or governments?
4) How many team members and what’s being built now?
5) More info on validator program?
Dylan Dewdney
1) hard work by the devs and a lot of initial convincing we were not illegitimate, and then a key insight I had that we needed to extend the capabilities of OCWs and that they needed someone to help them do it
2) publicly, i think 9 now? and there are as many not public yet
3) yes
4) over 20, and final touches on POC testnet, which has the OCW extensibility and price feed functionality
5) soon
Q
How do you, as Kylin, deal with the trends in the crypto market(btc. Dominance, total marketcap, bearish/bullish btc)?
Is there a need to launch Kylin during a certain trend?
Dylan Dewdney
making hay while the sun is still shining can be very important, but i think we try to have a long-term vision that sits outside purely crypto, and is theore better-cushioned from the volatility
Q
1) How does Kylin provide diverse data quering compared to other oracles?
2) How does Kylin tackle the data cost issues compared to other oracles?3) What are the reasons to mainly operate on Polkadot?
4) How could you describe the cross chain ambitions of Kylin in a concrete example?
Dylan Dewdney
1) answered i think above
2) via polkadot, we see it as a way more economical framework.
3) the above is a very good one, also that its where we see all the future connections in blockchain being made as a ‘layer 0’ solution
4) concretely, you can think about querying eth like graph does, but through eth bridge chain
Q
How easy or hard will it be to set up a validator and when will those go live?
Dylan Dewdney
it will be relatively easy to achieve, but we will vet out the first 100 validators
Q
Will you launch with polkastarter?
Dylan Dewdney
we are entertaining all strategies for maximum impact and long term health of project
Q
Is there a limit per buyer. Will it be a simple public sale? Whitelist like other sales or is everyone able to do so
Dylan Dewdney
We haven’t decided these details, and will take all suggestions on the best strategy — their are pros and cons for everything. i can assure you we will not have a perfect sale, and there will be pissed off people — ultimately, it’s a good problem to have though I wish we could have a ‘perfect sale’
Q
Verifying voting data — Is this a service you actually see being demanded for?
For example we put a proposal to INEC of Nigeria to overhaul their voting system and televise the votes for the presidential election, they dismissed it because they could not manipulate the data so their candidate of choice wins.
If we took that to America with massive voting fraud, they would dismiss it because firstly all dominion machines are owned by Facebook but ultimately same issue.
So is any country ever going to actually want such a system that provides true and fair data?
Dylan Dewdney
It’s not about voting — blockchain voting is actually a terrible idea
it’s validation of a vote
Q
What is the total token supply and will there be a vesting period?
Dylan Dewdney
1B, though this is sort of deflationary
Q
Is the team buying coins and won’t sell them ?
Dylan Dewdney
there will be appropriate vesting
Q
Hey Dylan, in respect to 2021 themes, income and revenue is becoming an important focus to digital asset projects, and as more sophisticated investors enter the space, it will be a key deliverable.
Which areas of business does Kylin expect to generate revenues, and what type of counterparties will be key to materialize them? And most importantly, does Kylin have a pipeline of partnerships ?
Dylan Dewdney
very true! I think, as we command the understanding of our own capabilities better than anyone atm, we will likely start incubating many of our own use cases. Rev gen from these will be the best advertising likely for others to build. Tbh, i don’t know the answers to that — we are working through a new model, which is a decentralized data marketplace, and we will need to discover a bit.
yes, we do
Q
Any estimates on what the circulating supply will be?
Dylan Dewdney
yes, 40+M (40,000 thousand :D )
Q
Is Kylin only gonna be used by crypto projects, or can the traditional market use the service Kylin Network will provide as well?
Dylan Dewdney
crypto projects to begin, but yes, huge potential for traditional business to operationalize and monetize data as well as pay for insight into on-chain data by paying in $KYL
Thank you ever so much for taking out time. We really do appreciate it and we will be buying coins. Whitelist our addresses maybe here at whalearmy!
This is an edited version of the AMA session — the full version you can find by this link:
https://t.me/whalearmy/154843
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