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PAL Network Mainnet Launch
PAL Network has released the Mainnet on December 31st 2018. This marks the occasion where PAL Network will move from the Ethereum blockchain. According to the roadmap, PAL Network will follow this release with a token swap, after exchange integration tests have taken place. Further along their timeline, new products have been planned for release to utilize the new tokens.
PAL Network Mainnet Token Swap on KuCoin Exchange
KuCoin supported the PAL Network token swap following the release of the Mainnet. The swap involved the move from the Ethereum-based blockchain to PAL Network’s Mainnet. The PAL tokens were swapped from the ERC-20 token to native PAL token.
Distribution was handled by exchanges that supported the token swap such as KuCoin. This means users holding PAL tokens need only to ensure tokens are held in these exchanges. Alternatively, users can manually swap their tokens by using the PAL token swap tool, which was made available from January 14th 2019. An official PAL wallet was also released to support the new token.
PAL Network Important Links
PAL Network Summary
PAL Network is one of the fastest growing blockchain startup based in Singapore. They built a dual-layered protocol for financial assets with the vision to build an ecosystem where individuals and partners can customise new financial products to cross-sell at the point-of-demand, thereby bridging the gap between financial products and customers.
CEO and Founder Val Ji-Hsuan Yap’s background in Finance has attributed to PAL Network’s growth since she founded the PAL Network after the first business entity PolicyPal, a digital insurance broker serving 50,000 users and the first to graduate from the Monetary Authority of Singapore (MAS) FinTech Regulatory Sandbox.
PAL Network is registered in Singapore and is backed by 10 VCs, with 7 partnerships already established. Overall, the company is filling a gap in the crypto market that currently lacks digital insurances.
Roadmap & Milestones
The roadmap covers the period from the token sale (Q1 2018) to Q4 2018. The milestones are clearly defined and are well illustrated on the graphic, making them easy to track. The rest of the roadmap are detailed in its main website up to Q2 2019.
Team and Advisors Description
The team information is provided in its main website with headshot photos and links to each member’s respective LinkedIn profiles, as well as a summary of their background and skillsets. The advisors' information is also provided with pictures and summaries.
PAL Network has a dynamic team made up of relatively younger team members. Years of experience aside, the PAL team is very passionate and ambitious to develop end-to-end solutions through blockchain technology, hence taking up a challenge in an insurtech startup. More can be found on its main website.
Speed of selling out the ICO
Blockchain technology and usage
The dual-layered protocol offers Blockchain-as-a-Service (BaaS) platform with predetermined parameters coded into Smart Contracts within minutes to build insurance products with low set-up costs and first-year free transaction cost.
PAL Network has migrated to its own chain and launched its Mainnet on 31 December 2018.
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We sincerely appreciate your support and understanding, we hope this information proves useful to all KuCoin users.
The KuCoin Team.