OAK Network

OAK (On-chain Autonomous Kernel) Network is a developer of an automation blockchain for DeFi and recurring payments across protocols, built with an event-driven execution model. The company works to achieve this through an on-chain autonomous framework with the event-driven virtual machine, autonomous transactions, and an on-chain scheduler to help dApps and DeFi make transactions that are triggered by event signals.

The company was founded in 2020 by Chris Li and Irsal McGinnis. It is headquartered in San Francisco, California, with a mission to build a Stripe-style network for Web3 and across protocols. The blockchain is built on the Parity Substrate, which allows transactions to be triggered by event signals, such as smart contract state changes or time changes, rather than Ethereum's transaction-based model.

The OAK Network offers a cross-chain automation infrastructure with the following features:

• an event-driven model in which users can schedule future transactions based on time triggers, allowing them to automate recurring or one-time tasks regardless if they are cross-chain
• a trustless auto-trading framework, including a decentralized limit and stop-loss orders without smart contracts or private key delegation
• smart contract triggers, which can be customized according to specific logic or actions

OAK is a utility token with an initial supply of 1 billion. The token is supposed to be minted in the genesis block at launch, and it is used to power network transaction fees, with dynamic fees that can be adjusted to prioritize tasks and reduce network congestion. The token can be used for staking in the network, which is rewarded by the network. It is a governance token that allows token holders to determine the direction of the network. And it is part of the DAO community OAK intends to build and includes developer incentives.