Name: KyberNetwork
Brand: KyberNetwork
SKU: KNC
Availability: InStock
Rating: 4.5 (31 reviews)

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Features good technological feasibility and diverse application scenarios, with major products already launched and either an early-stage or stable ecosystem in place. Multiple automated metrics indicate a notable level of industry attention and support, along with relatively manageable risks.

KyberNetwork

Mudrex

Market Statistics

Kyber Network Crystal (KNC) is a utility and governance token integral to the Kyber Network ecosystem, a multi-chain crypto trading and liquidity hub. The network aggregates liquidity from various sources to provide secure and instant transactions on any decentralized application (DApp). Kyber Network aims to enable DeFi DApps, decentralized exchanges (DEXs), and other users to quickly access liquidity pools that offer the best rates. KNC holders can stake their tokens in the KyberDAO to participate in governance and vote on proposals, earning rewards from trading fees.

KNC is used for governance, staking, and paying for transactions within the Kyber Network. It connects liquidity providers and users requiring liquidity. A portion of transaction fees is used to burn KNC, making it deflationary. The total supply of KNC is capped, and the token can be upgraded, minted, or burned by KyberDAO to support liquidity and growth.

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Kyber Network addresses the liquidity fragmentation in the DeFi space by aggregating liquidity from various sources to provide the best rates and seamless token swaps for users and DApps.

Kyber Network was co-founded by Loi Luu, who previously created Oyente, the first open-source security analyzer for Ethereum contracts, and co-founded SmartPool, a decentralized mining pool project. Victor Tran, a lead developer at SmartPool, is also a co-founder. Vitalik Buterin, the creator of Ethereum, advises the team.

The KNC token was released in a September 2017 ICO at around $1. The ICO minted 226,000,000 KNC, with 61% sold to the public.

The Kyber Network whitepaper outlines a fully on-chain liquidity protocol that enables instant cryptocurrency token swaps in a decentralized manner. The protocol aggregates liquidity from various sources within a blockchain, allowing for seamless token trades with instant settlement and atomicity. The design properties of the protocol include an aggregated liquidity pool, diverse sources of liquidity, and permissionless participation. The network actors have takers (users, wallets, exchanges, DApps), maintainers (governance bodies), and reserves (liquidity providers). The protocol aims to support various use cases, such as instant token swap services, ERC-20 payments, and financial DApps. Kyber Network’s design allows any party to contribute to the liquidity pool, and the protocol is designed to be integrated into any application requiring token exchange functionality. The whitepaper also discusses the implementation strategy, security considerations, and the role of KNC as a staking and governance token.