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Kylin Network, Wanchain Partnership To Safeguard Interoperable DeFi

Kylin Network, Wanchain Partnership To Safeguard Interoperable DeFi

Kylin Network has announced that it is entering into a strategic partnership with Wanchain. This partnership is part of a series of partnerships announced by the Kylin Network. 

The long-term strategic partnership will focus on safeguarding interoperable DeFi. The partnership combines Kylin Network’s innovative cross-chain data services and Wanchain’s leading blockchain interoperability solutions. 

How Does Wanchain Function?

Wanchain is the world’s leading decentralized interoperability solution, driving the adoption of blockchain technology through interoperability through decentralized bridges connecting the world’s siloed blockchain networks. 

Wanchain’s cross-chain infrastructure will empower developers to build decentralized cross-chain applications that power DeFi. 

Focus Of The Partnership 

Kylin Network and Wanchain both envision a similar future for blockchain, believing that blockchain interoperability is crucial to the technology. Without interoperability, the adoption of blockchain and blockchain technology will be greatly hindered. 

Both the Kylin Network and Wanchain believe that interoperability is more than just the movement of tokens, encompassing data flow. With an increase in the quantity and variety of data, there is an increased need for an array of validated data resources. 

This high-quality data, both on-chain, and off-chain empowers developers to build advanced, cross-chain applications. 

  • Kylin Network and Wanchain will complete a Token Swap. 
  • The Kylin Network will launch and operate a Wanchain Storeman node.
  • $KYL will be integrated into Wanchain’s decentralized cross-chain infrastructure. This will give users of the Kylin Network access to a host of DeFi applications. 

Considerable Excitement 

The partnership between the Kylin Network and Wanchain has generated considerable excitement. Li Ni, VP of Operations and Business Development, commented, 

“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 CEO of Kylin Network, Dylan Dewdney, added, 

“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.”

About Kylin Network 

The Kylin Network is building a cross-chain platform that will power the data economy on Polkadot. It is touted as DeFi’s future data infrastructure and Web 3.0. The Kylin Network will focus on providing reliable, valid, cost-effective, secure, and coordinated data analytics and data sources. 

About Wanchain 

The world’s leading decentralized blockchain interoperability solution, Wanchain hopes to drive the adoption of blockchain and blockchain technology through interoperability. It plans to do this by building completely decentralized bridges connecting siloed blockchain networks the world over.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.