DragonBite Dapp to benefit from Kylin Network’s oracles and data analytics
DragonBite recently posted a video featuring a prototype of its Dapp to show its community how they could soon exchange their rewards points and other in-game assets from participating loyalty programs to $BITE before swapping them for crypto currencies.
The Dapp will be live in Q3 2021 and connected to RioChain, an interoperable blockchain developed by RioDeFi which will enable its users to access multi crypto-currencies and chains from one place. Not only could people exchange their reward points into crypto currencies but they will also get the possibility to stake them in dedicated pools while generating passive income.
Several technical aspects need to be taken into consideration to provide such services and stay competitive. In regards to the growing number of DeFi projects and wallets, one of the key components to stay ahead and satisfy users is the ability for a Dapp owner to provide the prices of digital assets in real time. This makes even more sense in the crypto market known to be extremely volatile and open 24/7.
Therefore, we are pleased to announce a collaboration with Kylin Network, a data infrastructure protocol powered by Substrate which made a name in the blockchain space for providing DeFi and Web 3.0 applications with instantaneous and advanced decentralized data analytics.
Under this partnership, DragonBite will share a wide range of data to Kylin Network to help the project grow its data points. In return for it, Kylin Network will supply asset prices feeds to help Dragonbite setting price base and automate the value of the loyalty points collected across the Dapp.
‘’Kylin Network has built a solid network and currently partners with many projects including MantraDao, Bondly, Reef and Edgeware to quote a few. We are pleased to collaborate together and we are convinced our users will particularly appreciate having access to the real prices of the crypto currencies including but not limited to Ethereum and Bitcoin any time they login to convert their reward point into them’’, says Florence Ip, CFO of DragonBite
‘’DragonBite’s use case parallels our own — they seek to help operationalize and monetize an idle set of value contained within the enormous loyalty point and reward program markets, thus creating option, liquidity, and dynamism where there was none before. Super happy to be able to provide the functional/technological infrastructure for them to achieve this!” adds Dylan Dewdney, CEO of Kylin Network
The integration of the data on DragonBite’s Dapp will take place before the Dapp gets public in Q3 2021 and DragonBite will benefit from Kylin Network’s expertise for the installation and monitoring of the activities.
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 will provide valid, reliable, secure, cost-effective, and easily-coordinated data sources and data analytics.
Contact Kylin Network
Official website: https://kylin.network/
DragonBite is a truly open decentralised Asset Management platform for customers to store and swap all kinds of digital assets in One App with One password. The salient purpose of DragonBite however, is to couple an integrated application and suite of services with a tokenized loyalty rewards system. The combination of these two services is what has resulted in the vision of DragonBite which is “to disrupt the loyalty market with innovative business models and technology”.