Announcing Pichiu, Kylin’s Implementation on Kusama
What is Pichiu (PCHU)?
Kylin Network is very excited to share with you that… they has decided to launch on Kusama!
They want to introduce Pichiu, Kylin’s canary parachain on Kusama. The official Pichiu token symbol is PCHU.
Why Now?
For a very long time, they have said that they are aiming to launch directly on Polkadot to save time on managing two parachains.
However, the growing adoption of Kusama, and its ability to act as a currently ready implementation layer — right now — have changed the context of that initial plan. They will always prioritize a more rapid path to adoption and implementation of Kylin Network and DeData standards. Right now, the most rapid and robust path includes Kusama.
Kylin itself is now very close to completing the querying functionality of the data warehouse (i.e. v0) — they believe it makes sense now to launch a canary network and test out the integrations with their many partners both Polkadot based and others. They can only do that in the very near term via Kusama.
One of the major priorities of this path is to utilize the Kusama bridge to ETH to integrate their Solidity-based partners and offer our community the ability to provide data to them. This we feel will be of fundamental strategic importance as they have a multitude of partners sitting out in the ether (pun intended) and they want to be able to integrate them and test out integrations as much as possible. Ultimately, the traffic — in terms of real implementation paths — is currently on Kusama so it makes sense for them to have a presence there.
Pichiu Token Distribution
They believe their community is what makes their project unique, they have taken the feedback from the launch of the KYL token and incorporated it in the launch of PCHU.
This will be a fair launch with no foundation or team allocation; furthermore, there are no private rounds or private investors. The token’s distribution will be a fair launch and favorable to early participants.
