Interoperable DeFi meets interoperable data: Wanchain and Kylin announce strategic partnership
Wanchain and Kylin Network are proud to announce a long term strategic partnership aimed at shaping and safeguarding the future of interoperable DeFi. This partnership brings together Wanchain’s industry-leading blockchain interoperability solution with Kylin Network’s innovative cross-chain data services.
Li Ni, Wanchain VP of Business Development and Operations notes:
“We are committed to connecting all the world’s siloed blockchains. The Kylin partnership marks an important step towards this goal and allows us to provide several key partners with competitive Polkadot data services to fuel the development of interoperable DeFi.”
The first phase of the partnership is threefold:
- Wanchain and Kylin Network will complete a tokenswap;
- Kylin Network will launch and operate a Wanchain Storeman node;
- Wanchain will integrate $KYL into its decentralised cross-chain infrastructure, providing Kylians access to a suite of DeFi applications while they await the launch of the Kylin Network mainnet.
Wanchain and Kylin Network share a vision about the future of blockchain. Both believe that blockchain interoperability is of paramount importance and that without interoperability, the adoption of blockchain as a whole will be stunted. But blockchain interoperability isn’t limited only to the movement of tokens, it also encompasses the flow of data. As the variety and quantity of data sources increases, the need for a wide array of validated data resources also rises. High quality on- and off-chain data empowers Dapp developers to build more advanced decentralised cross-chain applications to power the future of DeFi.
Dylan Dewdney, Kylin Network CEO adds:
“Kylin Network is extremely pleased to offer the opportunity of our low-cost, high throughput oracle services on Kylin as well as working through a partnership that will see co-innovation and development on oracle scripting parameters that will support certain chain, certain contract, certain variable synchronous updates as per Wanchain's needs."
More specifics about this partnership will be shared in the coming weeks and months.
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.
About Wanchain
True DeFi is interoperable — Wanchain, the Wide Area Network chain, is the world’s premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. This crosschain infrastructure empowers developers to build truly decentralised crosschain applications to power the future of DeFi.
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