ORAO to provide Polkalokr with oracle solution on its cross-chain escrow platform
ORAO. a blockchain agnostic oracle platform native on Polkadot, today announced it has partnered with Polkalokr, a multi-chain escrow & token swap protocol. Through Polkalokr, programs can be set up to shield investors against loss through staggered token releases; and conditional payouts where remaining funds can be returned to investors in cases where developers make no progress, etc.
Trustless Multi-Chain Escrow
One thing that makes the blockchain valuable is removing the need for trust and middlemen. But scaling up, difficulties of bridging different blockchains bring new complexity, for both users and developers. Accordingly, OROA simplifies much of this with its cross-chain data products, allowing information to flow freely between ecosystems. Polkalokr similarly allows for total escrow and atomic swap solutions.
“This cooperative move will help achieve both our goals using each platforms’ unique features. It will also allow us to explore stronger solutions to combat the existing obstacles of DeFi and establish a smooth pathway for users.”
– Polkalokr CEO, Imran Ashfaq
In an industry where the vast majority of projects are either stillborn, outright scams or simply fail to execute, investors take on very high levels of risk when they invest in early-stage projects. The ORAO team is particularly interested in Polkalokr’s advanced escrow services, which it believes will find valuable utility in token locking and distribution programs.
“Polkalokr brings very interesting opportunities for token unlocking/vesting. We’re excited to explore the different use-cases this partnership will enable.”
– ORAO CEO, Nikola Strahija