What is Kyber Network (KNC)?

Website: Kyber Network | Website

Maximum Supply: 226,000,000 KNC

Circulating Supply: 205,045,092 KNC

Total Supply: 210,252,944 KNC

Explorer:  Kyber Network Explorer

Whitepaper:  Kyber Network Whitepaper

What is Kyber Network (KNC)?

Kyber Network is known as an on-chain liquidity protocol that brings together liquidity from various sources to provide secure and instant transactions in any decentralized application (DApp). The main purpose of Kyber Network is to provide easy access to DApps, decentralized Exchanges (dexes) and a liquidity pool that provides the best rates from other users. All transactions on Kyber are on-chain, which means they can be easily verified using any Ethereum block Explorer. Projects can be built on Kyber to use all the services offered by the protocol, such as instant calculation of tokens, collection of liquidity and a customizable business model. Kyber aims to solve the liquidity problem in the decentralized finance (DEFI) industry by allowing developers to build products and services without worrying about liquidity. Kyber Network Crystal (KNC) token is “a utility that connects various stakeholders in the Kyber ecosystem.” KNC holders can put their KNC on Kyberdao to help manage the Platform and earn wagering rewards in ethereum (ETH). They also determine the rewards that liquidity providers (Lps) receive on the platform.

Who are the Founders of Kyber Network?

Kyber Network started its development in 2017 and it is known that it is built on Ethereum blockchain. The project was founded by Loi Luu, Victor Tran and Yaron Velner and is currently headquartered in Singapore. Luu is recognized as a blockchain researcher and a consultant for various blockchain projects. He developed Oyente, the first open source security analyzer for Ethereum smart contracts, and is known to have founded Smartpool among other decentralized projects. Victor Tran is known as a senior backend engineer and Linux system administrator. Used as CTO at Clixy and 24/7 Digital Group and as a developer for various projects in Vietnam. Yaron Velner is known as the current CEO of Protocol B, a decentralized backstop liquidity protocol, and a postdoctoral researcher. Velner resigned from his CTO position at Kyber in October 2019. The Kyber team consists of several executive consultants, engineers and designers. According to the official page of Kyber Network Linkedin, it is known that the company has more than 50 employees, mostly in Vietnam and Singapore.

What Makes Kyber Network Unique?

Kyber Network is the first tool that allows anyone to instantly exchange their cryptocurrencies without the need for a third party such as a central exchange. Kyber's unique architecture is known to be designed to be developer-friendly, allowing the protocol to be easily integrated with applications and other blockchain-based protocols. Kyber Network uses various types of reserves that include a pool of funds used to provide liquidity, which are smart contracts that control how assets are priced (for example, using a price feed or algorithmically). Kyber can be integrated with other decentralized Exchanges and shared liquidity pools. Reserves pay fees that are burned in the knc or used for rewards. In July 2020, Kyber launched the decentralized autonomous organization (DAO) program, which allows knc owners to participate in the management of the network by voting on important proposals. Kyber's community consists of a wide variety of developers in addition to other members of the growing DeFi industry. Kyber's fully on-chain design ensures that the protocol maintains full transparency and verifiability. The platform is claimed to be the most widely used Defi protocol in the world.