UPDATE #2: Kyoko’s Cross-Chain Asset Lending Platform Testnet Event

4 min readAug 29, 2022

Kyokoans, hello!

We have a few tasty updates for you regarding Kyoko’s cross-chain asset lending (CCAL) platform testnet event. Below we’ll list out some of the most frequently asked questions on the event that we’ve received from the community.

Read on, Kyokoans. Let’s discuss any questions that you may have in our Community AMAs on August 30 in the official Kyoko Discord.

Need a refresher? Read more about the CCAL testnet event that will leave P2E games, guilds, and players whetting their lips to join: https://bit.ly/3azGIQn.

CCAL Testnet Event Q&A:

Q: How many participants have participated in the CCAL testnet event?

A: This was a tricky question to answer as there are so many distinct CCAL transaction processes currently open for testing. Here are the processes and associated testing figures as of August 29:

Lending: 33k+
Borrow: 22k+
Repayment: 19k+
Asset Withdrawal: 7k+
Liquidations: 200+

These figures represent the total number of test transaction processes. There are instances of multiple transactions conducted by the same wallet. We will release the figure for total unique test wallet addresses alongside our event rewards distribution announcement.

Q: When will the CCAL testnet event conclude?

A: Our testnet will remain ongoing as long as bugs continue to be found. Whenever cross-chain asset transfer transactions are conducted, things get incredibly complicated. We need to make sure that our platform infrastructure is safe above all else. Because of this, it’s difficult to say exactly how long the testnet campaign will run — rather it’ll conclude once we have a sufficient number of users that have tested for system vulnerabilities to an extent that satisfies the team that the system is robust enough for public release.

That said, we initiated an external contract audit by CertiK on August 22. This is an extensive multi-part audit that is estimated to take several weeks. Once the audit is complete, the CCAL testnet event will conclude.

Q: How will rewards be calculated?

A: Kyoko partners that are listed on our Game Connect and Guild Connect can join the first batch of institutions to experiment with GameFi’s first cross-chain asset lending platform. Benefits include: community promotion, platform fee waivers, increased listing visibility, contract loophole rewards, and bug bounties. In addition, Kyoko community members can join the first batch of gamers and traders to experiment with GameFi’s first cross-chain asset lending platform. Benefits include: contract loophole rewards, bug bounties, and 350,000 $KYOKO token share.

To keep the event fair for all, we will not release the exact formula for calculating rewards; however, we can say this: every wallet that completed a full transaction will receive a part of the $KYOKO token share. Wallets that test multiple transaction types will be eligible for a larger percentage of the reward pool.

Q: Who can participate in the testnet event?

A: Kyoko institutional partners that are listed on our Game Connect and Guild Connect can join the first batch of institutions to experiment with GameFi’s first cross-chain asset lending platform. Benefits include: community promotion, platform fee waivers, increased listing visibility, contract loophole rewards, and bug bounties. Kyoko community members can also join the first batch of gamers and traders to experiment with GameFi’s first cross-chain asset lending platform. Benefits include: contract loophole rewards, bug bounties, and 350,000 $KYOKO token share. For more information, read this article.

Q: Where do I report bugs?

A: Bugs can be reported in the #dev-support channel in the official Kyoko Discord. Bugs can also be emailed to the Kyoko dev team at partnerships@kyoko.finance. For more information, read this article.

Q: Should I report my participation details to become eligible for testnet rewards?

A: Any institutional partners who want to enjoy platform fee waivers following the official platform launch must provide the wallet addresses that were used in testing to a Kyoko team member. These wallet addresses will be placed onto an official whitelist upon launch. Other general community members and testers do NOT need to report participation as their wallet addresses have already been recorded.

Have more questions? We have the answers. Join the official Kyoko Discord and ask a community manager for more information.

About Kyoko

Kyoko.Finance is a DAO-to-DAO credit provider and cross-chain GameFi NFT lending market for guilds and players. Kyoko’s DAO-to-DAO lending offers liquidity to promote Web3 development, while its guild-to-guild lending, P2P NFT lending, and cross-chain asset lending platforms aim to solve the most pressing issues challenging the GameFi market, including the rising cost of entry and siloed in-game assets across different blockchains. Kyoko’s metaverse will also allow Guilds to display their history, progress, and other accomplishments, while players can connect with others in a world that can be built in, developed, and sold off.

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