Kylin Network will provide a decentralized data infrastructure solution, called #DeData for Web 3.0 leveraging Polkadot and Polkadot Substrate 2.0 Off-Chain Workers including Kylin Data Oracle, Kylin Data Analytics and the Kylin Data Marketplace.
KYL is the native utility token that is used for:
Staking for data miners, validators and arbitrators. All miners are required to stake KYL with a higher stake equating in a high probability of being selected to fulfill data requests.
Intermediary of Exchange. KYL will be used to pay as a transaction, query fee, and also for data access behind paywall (private APIs).
On-Chain Governance. KYL Token holders are able to vote for the protocol upgrades and parameter changes on Kylin Network.