We are thrilled to announce Polkalokr is forming a strategic alliance with ORAO Network, a Polkadot-native oracle service!

What is Orao Network?

Oracles are services that allow users and protocols to receive data and pieces of information from outside of the cryptocurrency context. ORAO Network is a Polkadot-native oracle service that provides custom and secure data feeds at incredible speeds. Users can curate anything using ORAO’s data feeds, from weather insights to e-sports data.

ORAO Network aims to provide a gateway to the users as a scalable solution against the limitations of Blockchains. The platform allows data providers to curate custom data feeds for their specific requirements. ORAO Network ensures an excellent level of security to its data feeds using its custom-built neural net that helps identify stale or malicious data. This way, the platform protects consumer interests. ORAO Network can also support broader data formats, unlike other earlier oracles.

Why oracles matter to Polkalokr

Polkalokr, a protocol that aims to simplify the complex tokenomics system for every network participant using its highly customizable escrow, depends on access to reliable information from oracle services. We are a multi-chain escrow offering “governance-as-a-service” that enables users to access and control the token distribution process. We identify the current problems of token economics arising due to human error like lack of trust, complexity, and adoption. Providing a solution to such issues with its trustless, concise and customizable, and enterprise-focused escrow, we at Polkalokr aim to put power back into participation.

We offer two products to simplify the complex tokenomics system, LOKR, and SWAPR. LOKR is a token locking and automated distribution protocol. LOKR may follow flexible release schedules which can accomodate event-based distributions via Oracle feeds based on real-world data and events. Our other product, SWAPR, is the escrow solution which allows P2P cross-chain swaps with instant or event-based execution via Oracle feeds.

Polkalokr and ORAO Network Partnership

This partnership will allow ORAO Network to explore Polkalokr’s token locking mechanics using LOKR and SWAPR. ORAO Network users can have a more convenient experience using our token locking mechanics while offering data feeds or other data products. Polkalokr’s oracle feeds will also be improved by having the contribution of ORAO Network’s reliable data feeds.

Commenting on this partnership, our CEO, Imran Ashfaq, said:

“This cooperative move will help achieve both our goals using each platforms’ unique features. It will also allow us to explore stronger solutions to combat the existing obstacles of DeFi and establish a smooth pathway for users.”

He further added that ORAO Network would be a significant addition as one of our oracle feeds.

Commenting on this partnership, ORAO’s CEO Nikola Strahija said:
“Polkalokr brings very interesting opportunities for token unlocking and vesting. We are very excited to explore the many different usecases that this partnership will enable.”

About ORAO Network

ORAO is a Polkadot-Native Oracle Service for Custom Data Feeds

About Polkalokr

Polkalokr is the first all-in-one, multi-chain token locking and escrow platform with built-in privacy functionality. Its products, LOKR and SWAPR, help build trust within the Defi space by removing the human element and focusing on governance through code, with a seamless, omni-channel digital experience platform.

📰 INFO

https://medium.com/polkalokr/polkalokr-and-orao-network-4398be7e4419