Launching $10M Kylin Ecosystem & Builders Fund
Today, we are standing at a $100m market cap. It took our team and community a little over a year to get here.
In some ways, it could be argued that the hardest part is over — Kylin has gone from 0 to 1, from an idea to a reality.
Our MVP is launched, our community is strong and passionate (af), and we have taken a position in the market as the only game in town when it comes to data concerns + Polkadot.
0 to 1 is a crucial, and vulnerable stage for any start or project — not many get to this point. We have.
That said, we are not even close to being out of the weeds. We have survived and thrived, but now we it’s time to flourish.
The next phase is 1 too 100. It’s time to scale. And this entire industry is no stranger to exponential growth! We’re ready for it!
Therefore if market cap can be a proxy for growth, we look toward the future of attaining a market cap of $10,000,000,000+ (11 figures!).
It’s the number and vision that all of us are excited to work towards over this longhaul of building the dedata economy on Polkadot. We believe there is enough precedence in the industry at large for this to be a reasonable goal.
This, of course, presents its own challenges, and these challenges come with their own specific set of solutions. We will need to coordinate and collaborate as a community to make this happen.
Part of which is attracting key talent.
Now that we are moving closer to parachain auction season we are proud to officially announce that we will be opening up the Kylin Developer’s fund. Poised to launch in the coming weeks.
In order to make the decentralized future a reality, we need a new generation of developers.
That is builders and thinkers who can collaborate together in the “Win and help win” spirit of blockchain. People who are excited to tackle challenges such as data access, performance, optimization, compliance, and of COURSE monetization.
This article will share some introductory details of how you too can monetize by working with us to create the decentralized data economy on Polkadot.
The History
It’s been just over a year since we were originally welcomed into the Web3 foundation. What a ride! And we’re now right on the cusp of a momentous launch as we prepare our network and community for Parachain Loan Offering on Kusama and Polkadot.
We have over 50+ partners hungering for data solutions to further empower their applications and networks with more sophisticated analytics and reporting capabilities. That is including a long line of passionate dApps, NFT projects, Defi solutions, video games, and more that are excitedly waiting official announcement.
2021 has been an excellent first full year for our company! And we’re prepared to continue investing and supporting our team and community for even greater accelerated growth going into this next year.
Brief Snapshot of our Roadmap thus far
✔️ 2021 Q2 Testnet on live network
✔️ 2021 Q2 Offchain Oracle API
✔️ 2021 Q2 Cross Chain Integration Oracle functionality
✔️ 2021 Q3 DDMO Launch
✔️ 2021 Q4 Demo saving and querying data warehouse.
✔️ 2021 Q4 V0 of Data warehouse deployed to test networks Rococo, Chachacha, and Kusama’s Westend Testnet
✔️ 2022 Q1 Deployment to Kusama, then Polkadot (Dependent on Parity audits and parachain auctions)
Fund Mission
The objective of this fund is to support visionary projects and developers who are inspired by the vision of decentralized data (NO MORE WALLED GARDENS!)
Whether an application is actively building on Polkadot, Kusama or soon even Ethereum and more, we’d like to provide access to funding, technical mentorship, marketing out reach, and further support to achieve success.
We understand that to build a thriving economy we must have a diverse set of offerings available for people. This is why we’ll be getting the ball rolling for the community with this $10m+ fund.
We are synergizing traditional, top-down economic development approaches with the grassroots, bottom-up, community driven culture in which most crypto projects thrive.
We know that in blockchain 1+1 = 11 through the power of community collaboration.
We’re excited to review what our community has in mind and open to considering everything from development tools, modules, extensions, libraries, research, education, engineering, machine learning applications or anything in between that may serve as a valuable resource in the ecosystem.
This development fund provides a collaborative environment for everyone to access what they need to scale their projects.
The Thesis
There are a WIDE variety of specializations that would thrive in this project. We are here to build the decentralized data ecosystem of the future. And with Kylin Network being a tech and infrastructure platform, we aim to build this fund as a monetization method in which we can create investent, incubation, and incentives values and common good for this space.
The fund will invest in and support product managers, connection/ecosystem builders, data scientists, blockchain/smart contract developers, Rust developers, and many more in similar capacities.
The Mission
1️⃣ Position the Kylin community to grow and attract top talent to help build the Kylin Network parachains and empower the decentralized data renaissance movement.
2️⃣ Propel the current space into a decentralized and fair internet where users control and can participate in the value of their data.
3️⃣ Innovate new models of economic development in the data economy to build the ultimate data infrastructure of the future. Thus compounding innovation of blockchain application development.
4️⃣ To make transactions and other information processes more secure, efficient, and cost-effective across multiple languages and with access across the entire globe
5️⃣ Accelerate the development of independent projects such as Decentralized Data Market Offerings (DDMOs) with stipends and support
The Process
In order to qualify for the program, people will need to meet milestones to receive grant funding based upon proposed delivery and project scope.
From there our team will work with members to build, deploy, and grow their online presence with our community support to begin providing data solutions to the masses.
This includes technical mentorship from one of the most technologically proficient teams within the blockchain industry to help tackle any development challenges that may occur along the way.
Inside the Kylin builders club, people will get to connect with other bright minds, founders, and projects across the Polkadot ecosystem and beyond to explore opportunities and develop strategic value-adds to their project.
With funding and additional connection support, we see that people can accelerate their progress by connecting with key leaders with whom knowledge and resources can be distributed to those who have the capacity to make the largest impact.
Much of that transference happens through conversation and building of powerful relationships and bonds. We believe that a healthy ecosystem should be composed of a multitude of leaders from many diverse aspects of this space.
There will be a review and due diligence process led by our Kylin leadership team, advisory council, and investors. We will be investing in projects that show the highest probability of adding the most value possible to the Kylin and Polkadot ecosystem at large.
Technical Achievements (DONE)
✔️ 52 announced partners (and more incoming)
✔️ Running LIVE on Rococo and producing blocks on Chachacha
✔️ First project to achieve XCMP pallet calling (executing cross-parachain code)
✔️ Oracle functionality
✔️ Data warehouse storing data
✔️ Accepted into the Substrate Builders Program
✔️ Achieved Parity’s Substrate Builders Program Milestone #1
✔️ Announced Kylin Networks Canary Network token for the Kusama Ecosystem $PCHU
Technical Updates (in progress)
☑️ Demoed data being saved on chain through the data warehouse. Next step is implementing the query functionality for historical data.
☑️ Add testing functionality to provide better robustness for builders
☑️ Integrating the data warehouse and oracle functionality with some of our partners (shoutout Polkadot partners!)
☑️ Building a dashboard for a partner that provides visualization of swap events happening on Karura (POC already completed)
☑️ Complete Substrate Builders Program Milestone #2
More Details Coming Soon
If this information sounds interesting then please stay tuned. We’ll be releasing more details about the fund and more over the coming weeks.
If you’re looking for an opportunity to accelerate your project and you want to be a part of an innovative movement in the world of data, then grab a shovel and let’s start building together.
We’re working out the specifics to make it as easy as possible for qualified projects to get involved with this endeavor. The possibilities are limited only by one’s imagination.
Step by Step Kylians!
Respectfully,
The Kylin Team
