What is Kyber Network?

KNC is a popular altcoin among sports fans. However, before you Trade KNC,it is vital that you understand what you are investing in.

Kyber Network is a multi-chain hub of liquidity protocols that provides secure, quick transactions on any decentralized app (DApp). Kyber Network's primary objective is to make it simple for DeFi DApps, DEXs, and other users to access vast liquidity pools that provide competitive rates.

Its primary DEX aggregator and liquidity platform, KyberSwap.com, offers superior swap prices for DeFi traders compared to other exchanges. Because of this, liquidity providers may increase their profit margins and save money while doing so. KyberSwap gets the best prices for traders on various chains by drawing liquidity from various DEXs. These DEXs include Uniswap, Sushi, Curve, QuickSwap, Pancakeswap, Pangolin, SpookySwap, VVS Finance, GMX, and more. There are more than a dozen chains that KyberSwap is compatible with. These include Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Optimism, Velas, Oasis, BitTorrent, Ethereum Proof-of-Work, and Solana.

KyberSwap is a permissionless, distributed exchange that does not need you to create an account or provide any personal details. KyberSwap's on-chain nature implies that no trusted third party (such as an exchange) is required to complete trades and that all trades can be readily confirmed by the Ethereum or other chain's block explorer.

KyberSwap may be integrated into projects for access to its many capabilities, such as the fast settlement of token swaps, liquidity aggregation for the best rates, liquidity pools, and a flexible business model. Kyber aims to address a key problem in the decentralized finance (DeFi) sector by freeing developers from the burden of securing sufficient funds for their projects

The Kyber Network Crystal (KNC) token serves as both a utility and a governance token. Those who have KNC tokens can stake them in the KyberDAO to participate in platform governance and cast votes on major proposals, all while earning staking rewards in KNC from trading fees.

How is Kyber Network different?

KyberSwap.com is a multi-chain decentralized exchange (DEX) aggregator and liquidity platform that provides traders with access to the best prices across multiple sources on various blockchains while enabling liquidity providers to deposit tokens and earn fees while maximizing capital efficiency and returns.

For greater capital efficiency and revenues for liquidity providers, KyberSwap introduced the first dynamic market maker (DMM) protocol in 2021.

Their next-generation AMM Elastic protocol was released in 2022. It protects liquidity providers, centralized liquidity pools, pricing ranges that can be adjusted on the fly, fees that automatically compound, and automatic reinvestment. These protocols work together to improve capital efficiency, slippage, and volume for KyberSwap liquidity providers, enabling them to mimic far larger levels of liquidity. In this model, the liquidity suppliers and takers benefit from less slippage and higher fees. In addition, yield farming can increase the revenue of liquidity providers.

KyberSwap was created with developers in mind. Its protocols are compatible with various blockchain-based apps and solutions, opening up a wide range of potential uses for DeFi. Since there is no universally applicable liquidity protocol, KyberSwap's open architecture encourages quick innovation and the incorporation of new protocols to meet the demands of various liquidity suppliers, takers, and other market players. A wide variety of decentralized applications (1inch, Paraswap, 0x API, Matcha, and Slingshot) and aggregators (Coin98 Wallet, Krystal, DEXTools, Kattana Trade, Rome Terminal, and Pegaxy) have incorporated KyberSwap

KyberSwap's Discover feature leverages AI and on-chain analytics to find trending tokens, helping traders make wiser trading decisions.

Kyber Network Token (KNC) holders have a significant say in the ecosystem's future growth, value capture opportunities, and incentive mechanisms. All KNC holders have a voice in governance and may vote on major ideas through KyberDAO.

How many KNC tokens are in circulation?

The KNC token is dynamic, with the KyberDAO having the option to vote to raise or reduce supply to stimulate innovation, boost liquidity, and reward early users of KyberSwap.

On September 15th, 2017, Kyber completed its initial coin offering (ICO), raising $52 million at a price of 0.00166 ether per KNC token. Token sales accounted for 61.06% of total supply during the ICO, with 19.47% reserved for the company's founders, advisers, and seed investors.

Network Security

The Ethereum blockchain serves as the foundation and safety mechanism for KNC tokens. In addition, security protections at the protocol and smart contract levels protect users from malicious administrators or exchangers.

Several third-party security organizations and researchers, including Chainsecurity and Hacken, have examined the KyberSwap and KyberDAO platforms and KNC to help verify that these different Kyber components are secure.

Founders

Kyber Network began development in 2017 on Ethereum. Loi Luu, Victor Tran, and Yaron Velner started the company, while Vitalik Buterin served as an advisor. Kyber Network has a significant presence in Vietnam and is now headquartered in Singapore.

CEO Victor Tran now leads Kyber Network. He has extensive expertise as a Linux system administrator and a backend engineer. He has worked as a developer for several Vietnamese businesses and as the Chief Technology Officer for Clixy and 24/7 Digital Group.

Loi Luu is the current Chairman of Kyber Group. He researches blockchain technology and acts as an advisor to several blockchain initiatives. He created Oyente, the first publicly available security analyzer for Ethereum smart contracts, and co-created SmartPool, another distributed system. He also contributed to Elastico, a research effort on scaling that informed the architecture of Zilliqa, an exciting new blockchain platform with the potential to support large transactions.

Yaron Velner, a former postdoctoral researcher, is now the CEO of B.Protocol, a decentralized backup liquidity protocol. Even though Velner is still affiliated with Kyber as an advisor, he resigned as CTO in October 2019.

Where can you buy KNC?

KNC is available on the licensed cryptocurrency exchange CryptoForce and several other national and international exchanges.

Disclaimer: Cryptocurrencies are highly volatile and subject to market, technical, and regulatory risks. Crypto trading requires one’s own diligence, and Cryptoforce will not be responsible for any losses incurred. Any information provided here should not be regarded as Cryptoforce’s technical or financial advice