Kylin Network Joins KSM Starter Ecosystem Council
Kylin Network, a cross-chain platform providing reliable on/off-chain market data and social data by leveraging the Substrate framework, has joined the KSM Starter Ecosystem Council. As an Ecosystem Council member and a highly reputable project built on Substrate, Kylin Network is set to provide due diligence and feedback to the emerging Substrate projects applying for IDO (Initial DEX Offering) on KSM Starter. This partnership aims to leverage Kylin Network’s expertise and success to not only evaluate various projects building on Substrate, but also provide valuable guidance to some of the most promising emerging projects entering the Substrate ecosystem.
Kylin Network is a data blockchain and infrastructure component of the future DeData world, where data will become decentralized, unlocked, monetized and operationalized to drive new, innovative and globally-scaled economic efficiencies, systems, and unimagined use case parameters.
The Ecosystem Council, an Advisory Board for Future Substrate Projects
The KSM Starter Ecosystem Council is composed of highly reputable ventures, funds, experts, and projects with proven track record in either building on Substrate or supporting Substrate-based projects. While the Ecosystem Council is composed of volunteering parties, it provides an essential and permanent value to how KSM Starter evaluates IDO proposals and ensures that KSM Starter supports only the most promising projects on Substrate.
The Ecosystem Council is an independent body of KSM Starter that has oversight and voting rights on the initial IDO proposals. Equipped with knowledge and experience, the Ecosystem Council can effectively support or reject the IDO proposals based on product viability, product-market fit, project fundamentals, and other areas. IDO proposals that receive a minimum requirement of 60% supermajority vote of the Ecosystem Council are then forwarded for the community to vote through staking.
However, the Ecosystem Council should not be considered as those who simply vote or reject IDO proposals. The key functionality of the Ecosystem Council is to provide feedback to the rejected IDO proposals so that these projects can further develop and come back to KSM Starter as a stronger candidate, or to provide advisory to the accepted IDO proposals so that these projects may achieve accelerated growth.
Moreover, individual member organisations of the Ecosystem Council are encouraged to provide further aid in development and acceleration of the applicant projects. This allows the KSM Starter IDO application process to be transformational, thus allowing the community to benefit from the direct result of the expertise provided by the member organisations of the Ecosystem Council.
Kylin Network, a Project’s Guide to Substrate Universe
Kylin Network has an impressive track record of building innovative solutions on Substrate, with key emphasis on data analytics, oracle, and marketplace. With Kylin Network onboard, the KSM Starter Ecosystem Council is geared to provide expertise-driven value to emerging projects building on Substrate that may have an emphasis on data exchanges. The value exchange would allow Kylin Network’s technology to have further, expansive integration into emerging projects in Substrate, supporting both Kylin Network’s vision and the new projects’ growth.
In exchange, Kylin Network’s community is eligible for exclusive benefits. With every IDO application that Kylin Network votes in favour of and accelerates, its community can look forward to receiving strategic whitelisting slots with guaranteed allocation. This allows the Kylin community to directly benefit from Kylin Network’s involvement in nurturing future projects on Substrate.
“We are pleased to be a part of the Ecosystem Council whereby we can help to guide the future and quality of projects entering the ecosystem for its overall benefit!” -Kylin Network
“We are excited and humbled to have Kylin Network join our Ecosystem Council. We believe Kylin Network can serve as the perfect council member organisation to foster some of the most promising projects on Substrate, and we look forward to relying on Kylin Network’s expertise and guidance to add immense value to the Substrate ecosystem” — Siwon Kim, Co-Founder & Chief Strategy Officer, KSM Starter.
KSM Starter welcomes Kylin Network as the newest member of the Ecosystem Council, and looks forward to continued collaboration and partnership.
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