Kylin Network x RioDeFi Partnership Announcement
Hong Kong, Wednesday November 11th, 2020
RioDeFi is proud to announce a partnership with Kylin Network, an advanced decentralized data feeding protocol powered by Polkadot. Although Kylin Network made a name for offering multiple, real-time data sources with complementarity and synergy to off-chain workers, it is on its data analytics solutions that Kylin Network will assist RioDefi.
This comes a few weeks after RioDefi has achieved two significant milestones: the launch of RioChain and RioWallet.
RioChain is built on Substrate and open to developers interested in building dApps on a fast, scalable, interoperable blockchain with low transaction fees. With an economic model that rewards dApp developers with 20% of the RFUEL transaction fees they generate and an aim to become a Polkadot Parachain, RioChain is ideal for a broad array of applications.
RioWallet aims to accelerate the mass adoption of digital assets by allowing people to easily convert fiat currency from a bank account or credit card to cryptocurrency. Once converted, they can then access DeFi services ranging from trading, swapping, staking, lending, and borrowing via blockchain.
Through Kylin Data Analytics, those building dApps on RioChain will have access to a suite of data analytics.
“Kylin Network hopes to provide valid, reliable, secure, cost-effective and easily-coordinated data sources and data analytics. It will be the data infrastructure for the future DeFi and Web 3.0 world powered by Polkadot.” Dylan Dewdney, CEO at Kylin Network
A query engine directly connected to the nodes holding data will help developers to best manage, coordinate, and access validated data provided by third parties’ oracles. Connected to a REST server, all data can be extracted and used by external analytics tools such as BI tools or machine learning, providing flexibility, scalability, portability, and more independence.
“We’re thrilled to be partnering with Kylin Network to provide robust data analytic services for dApps built on RioChain. These services will be especially useful for financial products such as stablecoins, lending platforms, DEXs, crypto derivatives, and more.” James Anderson, CEO at RioDeFi
Viewing the ambition of both companies to become parachains, this partnership could, in the long term, benefit the entire community of developers building their dApps on RioChain and the broader Polkadot ecosystem.
About Kylin Network
Kylin Network aims to build a cross-chain platform powering the data economy on Polkadot. It will be the data infrastructure for the future DeFi and Web 3.0 powered by Polkadot. Kylin Network hopes to provide valid, reliable, secure, cost effective and easily-coordinated data sources and data analytics.
For further information on Kylin Network’s solutions, please visit their official website, subscribe to their Medium channel, follow them on Twitter, Discord or connect with the team via Telegram and LinkedIn.
RioDeFi accelerates the mass adoption of digital assets by bridging traditional and decentralized finance. Our vision is a world in which everyone has access to decentralized financial (DeFi) services. We develop solutions that connect banking institutions with blockchain systems. Our applications enable lower transaction fees, faster confirmations, more efficiency, better returns for savings account holders, and global reach.
To learn more about the latest developments regarding RioChain, visit: Riodefi.com