Qilin Protocol
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Qilin Protocol

The Qilin Tales #2

Here’s our May 2021 Qilin Monthly Update.

Hope you enjoy!

Technical Bits

  1. Fixed/tested issues surrounding Qilin V1 as reported by our community;
  2. Carried out Qilin V2’s demand analysis, set its UI and R&D tasks;
  3. Further research into TWAP oracle from Uniswap;
  4. Research on wallet types supported by Qilin V2;
  5. Design and collation of Qilin V2’s microservice solution.
  6. Preparing and testing V1 mainnet, ready for launch;
  7. Charting options for V2;
  8. Confirmation of Qilin V2’s price feeding technology, and adjusted the business prototype.

Community Bits

  1. Qilin Testnet Trading Competition came to an end at the beginning of May, with around 60 winners winning limited edition Qilin NFTs.

2. Biggest news item for May is we raised $800K in our initial funding round! This round of funding will be used for the development of Qilin V2. We thank the various institutions for getting our vision and backing us at the very beginning.

3. We held our first ever Qilin Community Call in May. This gives the team an opportunity to update our progress and communicate issues with the community every week. We want the community to eventually own the Qilin Protocol. Going forward, we’ll continue to make weekly community calls and you can find call minutes on our Medium.

Quick summary of the calls:

Call #1: team explained why we had this kind community call and what made us to build Qilin and why we believe the timing is right.

Call #2: we discussed our innovative Rebase Funding Rate and also took time out to reflect on recent industry issues.

Call #3: we discussed use-cases for inverse perps with respect to Altcoins, we also took time out to explain why layer 2 is not a priority for Qilin at the moment.

4. On May 22nd, Qilin celebrated the 11th Bitcoin Pizza Day with the community, to commemorate the first commercial transaction using Bitcoin.

5. The team also shared some insights on Uniswap's TWAP and DeFi liquidation mechanisms.

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Qilin

Qilin

Decentralized risk-optimizing protocol for derivatives trading.