Please keep in mind that this article will be updated as the IDO date approaches.
One of KickPad’s main intentions is to give ambitious anonymous projects a platform to launch. This is done with complete transparency to the community to minimize the risks that are usually present while projects raise capital. Part of this transparency is the vetting process:
● Complete two audits
● Pass a preliminary manual overview
● Pass an interview
● Make all code public
● Pass through a committee overview process
Now it is time to set this in motion.
We have been approached by an impressive amount of proposals and will do our best to deliver only the finest projects on our launchpad. In the upcoming weeks and months, we aim to make investments easy for our community. As such, we are delighted to share information about our first IDO launch — an oracle by the name Orakuru.
Orakuru (ora-ku-ru) is an indisputable price oracle on BSC (Binance Smart Chain). A truly decentralized alternative for off-chain data. It provides real-world data to the blockchain and asks its external nodes to capture data, such as BSC price feeds and off-chain market prices. Orakuru’s data becomes available for on-chain usage in DEXs, prediction markets, insurance, lending, and more, using their feeds to power different dApps.
“First of all, we are honored to be the first project launching on KickPad. We, like many others, have been awestricken by KickPad’s success and continuous growth. It clearly shows that crypto users want innovative and safe alternatives in Defi compared to existing ones. Like KickPad, we believe that all operations on permissionless blockchains should ultimately be a simple process. Be it purchasing and transferring assets or interactions with smart contracts and dApps. However, this can not be done without a proper oracle solution — Orakuru arrives. We aspire to build a healthier Defi environment while prioritizing our community in the process. Orakuru was founded on the premise of a clear lack of community-governed oracles. Particularly on BSC. — The Orakuru team
Instead of relying on a single source of truth (a centralized oracle operator), which poses the problem of having a single point of failure, Orakuru employs a decentralized network of independent oracle nodes. Each of these nodes processes consumer smart contract requests and retrieves the requested data, which is then aggregated on-chain by the Orakuru aggregator smart contracts.
“We choose to launch an oracle project on BSC because of the insane gas fees currently plaguing Ethereum, making the chain unusable for ordinary investors. Furthermore, BSC’s transaction feed only costs a few cents every few seconds. The block time is also greatly decreased. The block time on Ethereum is 30 seconds, while it is 3 seconds on BSC. That is a tenfold
increase in speed — a significant amount, especially if you want to use Defi applications in real-time. Since transaction costs are substantially smaller, BSC solves costly smart contract interactions and the expense of Oracle use. The cost of a particular token could have decreased in those 30 seconds, but data can be given more regularly on BSC. Every 3 seconds, the data is refreshed. This way, Orakuru will be able to establish a seamless experience for traders with instant price-feeds.” — The Orakuru team