1. Name of Applicant
Bisonai
2. Introduction of Applicant
Bisonai provides Web3 blockchain infrastructure and originated as a spin-off from Krust, Kakao’s global blockchain incubator, boasting a diverse team with members from around the world.
As a full-stack Web3 infrastructure developer, Bisonai is an active infrastructure developer in the Klaytn ecosystem with the following infrastructure products in the Klaytn ecosystem.
1) Orakl Network (Klaytn’s official oracle service)
Orakl Network is a Klaytn native oracle that provides data feed, verifiable random function, request-response, and proof of reserve solutions. Bisonai has wholly open-sourced the code base to promote transparency and ecosystem development.
Website: https://orakl.network/
2) Klaytnfinder
Klaytnfinder is the official block explorer of the Klaytn network. Bisonai is presently in the process of providing more functional and feature updates to Klaytnfinder.
Website: https://www.klaytnfinder.io/
3) MBX Marketplace (outsourced by Marblex)
MBX Marketplace is the official NFT marketplace for Marblex, a blockchain subsidiary of the South Korean AAA game company Netmarble.
4) MBX Explorer (outsourced by Marblex)
MBX Explorer is the block explorer of private game chains on Marblex.
3. Objectives of Participating in the Klaytn Governance Council
Bisonai will leverage its extensive Web3 and Web2 infrastructure experience to strengthen Klaytn’s competitive advantage in decentralized finance, RWA, NFT, and other essential blockchain infrastructure.
Bisonai provides various Web3 infrastructure services from oracle, blockchain explorer, NFT marketplace, smart contract development to Dapp development and customized blockchain solutions. We are determined to support other governance council members and Dapps to launch their products and services in the Klaytn ecosystem through our tailor-made approach.
In addition, Bisonai will utilize its experience and know-how to support the business and marketing activities of Klaytn through organizing joint hackathon, online and offline AMA and webinars.
4. Applicant’s Commitment to the Klaytn Community
To become a valuable GC in Klaytn, Bisonai is proposing the following value-added plans:
1. Active ecosystem support
Bisonai has been a judge of Klaytn’s hackathons and an active supporter of various Klaytn’s online and offline AMA, webinars, and events. Bisonai will continue to actively support and participate in the business and marketing activities of Klaytn.
2. Active infrastructure building
Bisonai will develop more value-added services on top of Orakl Network, Klatyn’s official oracle service, and Klaytnfinder. We will also support more price feeds on Orakl Network to enhance the composability of the Klaytn network for DeFi applications.
3. Vietnam expansion
As an international team, Bisonai has members who are based in both Korea and Vietnam. Bisonai members will support Klaytn’s global expansion in Vietnam, which is one of the key strategic markets of Klaytn.
4. RWA ecosystem expansion
Bisonai is an infrastructure partner of Creder’s 100% physical gold-based digital assets $GPC and GOLDSTATION, the first to be offered in a public mainnet ecosystem other than Ethereum. Bisonai will continue to explore RWA opportunities and invite teams to join Klaytn’s RWA ecosystem.
5. Data partnership
Bisonai will develop a data product that provides financial data of Klaytn. The data partnership will provide further transparency to Klaytn and attract more international traders and investors to participate in the ecosystem.
6. Burning of KLAY
Orakl Network operated by Bisonai receives KLAY as usage fees, and currently, half of these fees are being used for KLAY burning. We expect that this initiative will contribute to the economic circulation within the Klaytn community.
7. Fee delegation of KLAY
KLAY rewards received from delegation from the Klaytn DAO treasury will be used for ecosystem growth and services only for the sake of the Klaytn, e.g. covering the on-chain gas fee required in on-chain computation and other infrastructure cost of Orakl Network. For example, the price feed of Orakl Network is updated at predefined time intervals (every 15 seconds) on-chain for which KLAY gas fee would be required to be paid from Orakl Network’s EOA wallet. It is also possible to have a more frequent updating frequency which is tailor-made for a particular service, e.g. every 1 second, following the 1-second finality of the Klaytn network in which case Orakl Network will need to pay KLAY gas fee every second.
5. Plan for Securing 5 million Klay
Bisonai is seeking a 2.5M KLAY token delegation from Klaytn Foundation for which the validation reward will be used for ecosystem purposes only, e.g. paying on-chain gas fee and infrastructure cost of Orakl Network. We will provide a periodic update on how the KLAY reward is being utilized for ecosystem purposes through Klaytn Square.
For the remaining 2.5M KLAY token, Bisonai will seek delegation from our partners to contribute to the KLAY liquid staking services.