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Summary of Kyber Network Crystal Legacy
- KyberDAO approved KIP-6 to upgrade $KNC, giving more control to KyberDAO and enabling efficient upgrades.
- KNC Migration Process began on April 20, 2021, with a 1:1 migration ratio (1 old KNC = 1 new ERC-20 KNC token).
- Old token is labelled as KNC Legacy (KNCL), while the new token retains the original ticker KNC.
- KNC holders can convert to the new token via the Migration Portal on kyber.org/migrate.
- Important: Avoid transferring KNCL tokens to centralized exchanges that only support upgraded KNC to prevent fund loss.
- New KNC page on
Introducing Kyber Network Crystal Legacy: A Pioneering DeFi Solution
KyberDAO has recently sanctioned KIP-6, a pivotal initiative aimed at migrating and upgrading $KNC to render the token more agile, thereby facilitating seamless upgrades while granting KyberDAO greater autonomy. As of April 20th, 2021, the KNC Migration Process has commenced, with no definitive deadline set as of August 2021. Notably, the migration ratio has been established at 1:1, wherein one old KNC will be exchanged for one new ERC-20 KNC token.
To preclude confusion, it is advisable to designate the existing token as KNC Legacy (KNCL) and reserve the original ticker symbol, KNC, for the new token. Notably, KNC will continue to operate as an ERC-20 token.
For KNC holders who self-manage their tokens using self-custodial wallets like Metamask, Krystal, Ledger, Trezor, Keystore, and others, you can seamlessly convert to the new KNC token independently via the Migration Portal on kyber.org/migrate.
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IMPORTANT: Please exercise extreme caution when transferring KNCL tokens, as sending them to a centralized exchange that only supports the upgraded KNC may result in irreparable financial losses.
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Discover the revamped KNC page on Coinmarketcap:
https://coinmarketcap.com/currencies/kyber-network-crystal-v2/
IMPORTANT: Please exercise extreme caution when transferring KNCL tokens, as sending them to a centralized exchange that solely supports the upgraded KNC may result in irretrievable losses of funds.
Explore the revamped Kyber Network Crystal (KNC) page on CoinMarketCap:
https://coinmarketcap.com/currencies/kyber-network-crystal-v2/