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About Kyber Network Crystal v2
Key Points
- Kyber Network is a multi-chain hub of liquidity protocols that aggregates liquidity from various sources.
- KyberSwap.com is its main DEX aggregator and liquidity platform, providing the best swap rates for traders.
- Kyber Network Crystal (KNC) token is a utility and governance token.
- KNC holders can stake their tokens in the KyberDAO to help govern the platform and vote on important proposals.
Founders and Team
- Founders: Loi Luu, Victor Tran, and Yaron Velner.
- CEO: Victor
Introducing Kyber Network Crystal v2: A Revolutionary Leap Forward
Introducing Kyber Network (KNC): A Decentralized Liquidity Hub
Kyber Network is a multi-chain hub of liquidity protocols that aggregates liquidity from diverse sources, thereby facilitating secure and instantaneous transactions on any decentralized application (DApp). The primary objective of Kyber Network is to empower DeFi DApps, decentralized exchanges (DEXs), and other users with seamless access to deep, high-quality liquidity pools that offer the most competitive rates.
KyberSwap.com, a premier decentralized exchange (DEX) aggregator and liquidity platform, offers traders in the DeFi ecosystem unparalleled swap rates, surpassing those of individual exchanges. Additionally, it empowers liquidity providers to optimize their earnings through exceptional capital efficiency. By aggregating liquidity from a diverse range of DEXes, including Uniswap, Sushi, Curve, QuickSwap, Pancakeswap, Traderjoe, Pangolin, SpookySwap, SpiritSwap, VVS Finance, Velodrome, and GMX, among others, KyberSwap achieves the most competitive rates for traders across various blockchain networks. Notably, KyberSwap supports an extensive network of over 13 chains, including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Optimism, Velas, Aurora, Oasis, BitTorrent, Ethereum PoW, and soon, Solana.
KyberSwap operates in a decentralized and permissionless manner, eliminating the need for account sign-up or the disclosure of personal information. Notably, all transactions on KyberSwap are executed on-chain, thereby obviating the need for a centralized third-party intermediary, such as a traditional exchange. Furthermore, these transactions can be effortlessly verified using the Ethereum or other chains’ block explorer, ensuring transparency and accountability.
Projects can leverage KyberSwap to tap into its diverse features, including instantaneous token swap settlements, aggregated liquidity for optimal rates, liquidity pools, and a customizable business model. By addressing the liquidity conundrum in the decentralized finance (DeFi) industry, Kyber empowers developers to craft innovative products and services, unencumbered by concerns about liquidity for diverse needs.
The Kyber Network Crystal (KNC) token serves as a multifaceted utility and governance token, effectively bridging disparate stakeholders within Kyber’s ecosystem. By staking their tokens in the KyberDAO, KNC holders can actively participate in platform governance, casting votes on pivotal proposals, and earning staking rewards in KNC, which are sourced from trading fees. Notably, prominent investors in KNC include #Hashed, Signum Capital, ParaFi Capital, and HyperChain Capital.
The Visionary Founders Behind Kyber Network
Kyber Network embarked on its development journey in 2017, leveraging the Ethereum blockchain as its foundation. Founded by a triumvirate of visionaries – Loi Luu, Victor Tran, and Yaron Velner – with the esteemed Vitalik Buterin serving as an advisor, the project has since established its headquarters in the British Virgin Islands.
Victor Tran, a seasoned backend engineer and Linux system administrator, currently helms Kyber Network as its CEO. His impressive repertoire includes stints as CTO at Clixy and 24/7 Digital Group, as well as contributions to various projects in Vietnam.
Loi Luu, the esteemed Chairman of Kyber Group, is a renowned blockchain researcher and advisor to numerous blockchain projects. Notably, he developed Oyente, the pioneering open-source security analyzer for Ethereum smart contracts, and co-founded SmartPool, among other decentralized initiatives. Furthermore, his work on Elastico, a scaling research project, laid the groundwork for the design of Zilliqa, a highly promising scalable blockchain project.
Yaron Velner, a seasoned expert, currently helms B.Protocol, a decentralized backstop liquidity protocol, and has a background as a postdoctoral researcher. Notably, Velner relinquished his CTO role at Kyber in October 2019, although he continues to serve as an advisor.
The Kyber team boasts a diverse roster of professionals, encompassing experts from engineering, product, marketing, strategy, and business development, supplemented by a panel of esteemed advisors. As per the official Kyber Network LinkedIn page, the company’s global workforce exceeds 50 employees.
Unveiling the Uniqueness of Kyber Network
KyberSwap.com, a multi-chain DEX aggregator and liquidity platform, empowers traders to tap into the most competitive prices from diverse sources across various blockchains, while enabling liquidity providers to deposit tokens and reap fees with optimal capital efficiency and returns.
In 2021, KyberSwap pioneered the world’s inaugural dynamic market maker (DMM) protocol, which dynamically responds to shifting market conditions to optimize capital efficiency and maximize earnings for liquidity providers.
In 2022, the cutting-edge, next-generation AMM Elastic protocol was unveiled, boasting concentrated liquidity pools, customizable price ranges, auto-compounding fees, and a robust anti-sniping feature designed to safeguard the interests of liquidity providers. This innovative suite of protocols empowers KyberSwap liquidity providers to optimize their capital, effectively simulating elevated levels of liquidity, thereby achieving enhanced capital efficiency, reduced slippage, and increased volume. As a result, liquidity providers can reap significantly higher fees relative to their contribution size, while takers can benefit from exceptionally low slippage on their trades. Furthermore, liquidity providers can augment their earnings through yield farming.
For developers, KyberSwap is engineered to be inherently developer-friendly, allowing seamless integration with applications and other blockchain-based protocols to cater to any DeFi use case and possibility. Recognizing that no single liquidity protocol can universally satisfy the diverse needs of liquidity providers, takers, and other market participants, KyberSwap’s adaptability empowers developers to rapidly innovate and integrate novel protocols tailored to distinct liquidity requirements. Notably, KyberSwap has been successfully integrated by prominent Dapps such as Coin98 Wallet, Krystal, DEXTools, Kattana Trade, Rome Terminal, Pegaxy, as well as esteemed aggregators including 1inch, Paraswap, 0x API, Matcha, and Slingshot.
KyberSwap’s ‘Discover’ feature leverages the power of AI and on-chain metrics to pinpoint tokens that are presently surging in popularity or poised to trend in the imminent future, thereby empowering traders to make more astute and informed investment decisions.
In the Kyber ecosystem, KNC token holders wield significant influence in shaping the platform’s future growth and value-capture opportunities, as well as incentivizing mechanisms. Through the KyberDAO, KNC holders are empowered to participate in governance, exercising their voting rights on pivotal proposals. Moreover, Kyber’s community boasts a substantial and diverse membership, comprising a wide range of developers, alongside other prominent stakeholders in the burgeoning DeFi industry.
The Circulating Supply of Kyber Network (KNC) Coins: A Closer Look
As of October 2022, Kyber Network boasts a total supply of 223.36 million KNC tokens. Notably, over 160 million tokens are currently in circulation. The KNC token is inherently dynamic, with the KyberDAO empowered to vote on adjustments to the supply, thereby fostering innovation, bootstrapping liquidity, and rewarding early adopters of KyberSwap.
Kyber successfully concluded its initial coin offering (ICO) on September 15, 2017, securing a substantial $52 million in funding by offering each KNC token at a price of 0.00166 ETH. As outlined in the official token distribution paper, the ICO saw 61.06% of tokens allocated to public sale, while 19.47% were reserved for the founders, advisors, and seed investors, with the remaining 19.47% set aside for the company’s future development.
The Security Framework of the Kyber Network: A Robust Defense Mechanism
As an ERC-20 token, KNC is erected upon the robust foundation of the Ethereum blockchain, leveraging its inherent security features. Furthermore, Kyber boasts an exhaustive trust and security paradigm that safeguards users against potential malfeasance by administrators or exchanges, courtesy of multi-layered security measures meticulously integrated at both the protocol and smart contract levels.
The KyberSwap and KyberDAO platforms, as well as KNC, have undergone rigorous audits by esteemed third-party security firms and researchers, notably Chainsecurity and Hacken, thereby reaffirming the robust security of these diverse Kyber components.
Acquiring Kyber Network (KNC): A Comprehensive Guide to Exchanges and Marketplaces
KNC tokens are readily available for purchase and trade on a diverse range of exchange platforms, featuring esteemed names such as Binance, Coinbase, Huobi Global, KuCoin, OKX, Kraken, and KyberSwap. Notably, the token is currently listed on over 20 prominent exchanges, boasting an impressive array of more than a dozen trading pairs, including stablecoins like Tether (USDT) and Binance USD (BUSD).
For those seeking a comprehensive guide on purchasing KNC tokens or other cryptocurrencies using fiat currency, we invite you to explore our in-depth tutorial, carefully crafted to facilitate a seamless entry into the world of digital assets.