With $10 million secured from two rounds of funding led by Greylock, Electric Capital, and Foundation Capital, OAK Network has not only secured a Polkadot parachain slot in Q3 2022 but has also established itself as a leader in the domain of decentralized payment automation. Leveraging strategic partnerships with Polkadot, Moonbeam, and Astar, OAK Network deploys cutting-edge cross-chain automation products specifically designed for decentralized exchanges (DEXes).
What’s next for your project?
We are in the final stages of preparing for the launch of our mainnet OAK Network as a Polkadot parachain. Additionally, we are diligently completing the development of our next significant feature: price automation. This feature will empower users to execute limit orders and automate various price-triggered tasks on decentralized exchanges (DEXes).
What can your token be used for?
The TUR token serves a versatile purpose within the network. It can be utilized to cover automation fees, protocol-related gas fees, participate in on-chain governance voting, and generate staking rewards by actively securing the network as either a collator or a delegator.
What is trustless automation?
OAK is non-custodial and will never ask for your private keys or your crypto.
You tell OAK what action to take, including what or who you are interacting with, and what you are doing with it or them. This is typically an extrinsic call to another parachain where your action will occur; examples include transferring, swapping, or depositing tokens or claiming and staking rewards.
You tell OAK when to trigger execution by specifying a data stream and a condition. Data stream examples include date / time, token price, events or state changes of smart contracts or other blockchains, weather, or other real-world information sources. A condition is a logical operation applied to that data stream; “When the temperature in New York City hits 120F” or “The first Monday of every month”, for example.
About OAK Network
OAK Network is a trailblazing layer-1 blockchain on a mission to become the 'Stripe for web3,' serving as the premier infrastructure for automated payments and decentralized finance (DeFi).
History of your project.
We have become a top project in the Polkadot ecosystem and are providing tier-1 parachains with automation functionalities. Below are the product integration work going in parallel.
- Automation dashboard, recurring payment, live
- Nova Wallet, one-click auto-restake, live in staging
- Mangata.finance, LP reward auto-compound, live in staging
- Astar, dApp staking auto-compound, in development
- Moonbeam, stop-loss trade for EVM-compatible DEXes, in development
Use cases powered by trustless automation from the OAK Network include: