Dylan aims to build a cross-chain platform powering the data economy on the Polkadot blockchain. Kylin Network offers applications instantaneous but reliable and valid on/off-chain market data and social sources by leveraging the power of Polkadot on open networks.
Their Kylin Data Oracle is a decentralized data feeding protocol offering multiple, real-time data sources with complimentary to and synergy with off-chain workers. Paired with their Data Analytics, Data Marketplace, and $KYL token, their ultimate goal is to provide an essential Open API and SDK from a high-level perspective with these tools, fully powering the data economy on Polkadot.
Matrixswap is also utilizing Kylin’s oracle data allowing for more transparency and precise data feeds for Matrixswap’s Virtual AMM futures market where traders rely heavily on accurate price feeds for funding rate calculations.
Matrixswap understands the importance of receiving accurate index pricing on assets and has already begun to implement and utilize Kylin’s Oracle to further enhance its platform.
“Not only are we strategic partners with Kylin Network, Dylan and his expertise and experience in cryptocurrency will be a huge help for our team here at Matrixswap. We aim to build an advanced DEX focused on perpetual swaps on multiple chains including Polkadot. Accurate price and data feeds are key to our success.”
Joseph Liu, Founder of Matrixswap
The Kylin Network is designed to be the data infrastructure for future DeFi and Web 3.0 powered by Polkadot. The network will provide valid, reliable, secure information from cost-effective sources that can easily coordinate with each other to power a new global economy where anyone has access to any type of research they need without worrying about its validity or accuracy.
Matrixswap is a fully decentralized virtual-AMM-based perpetual swaps trading protocol deployed on the Polkadot and the Cardano blockchains. Unlike traditional AMMs, users can long or short any assets’ perpetual contracts with up to 25x leverage. While most decentralized derivative trading platforms face liquidity concerns, the Matrixswap vAMM offers infinite on-chain liquidity. A funding rate mechanism is incorporated to ensure MarkPrice closely tracks IndexPrice. Matrixswap aims to be a fully community-owned and governed Defi protocol in the long run.