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About Kyber Network (KNC)
Ethereum-based Kyber Networkit is "a multi-chain crypto trading and liquidity hub that connects liquidity from different sources to enable trades at the best rates."
Aggregating liquidity from a range of sources is aimed at facilitating speedier transactions, and across an array of decentralized applications (dApps).
Kyber’s focus is on speed, or whatcalls "rapid on-chain execution of transactions."
How rapid? The Singapore-based team behind the network said in a 2017that their goal was to design an on-chain protocol which allows "instant" exchange and conversion of digital assets.
KNC acts as the Kyber Network’s utility token. It enables users to stake within the KyberDAO to assist in governance processes across the platform. Staking rewards derived from transactions occurring on the Ethereum network are also used to incentivize staking of KNC.
The Kyber Network strives to streamline the world of decentralized finance (DeFi). This burgeoning sector is notorious for congestion and high fees, particularly in the context of dApps built upon Ethereum. The Kyber Network seeks to change this. How? The network says it provides open access to a suite of security, liquidity aggregators, and instant settlement periods across the network.
Boasting “the best rates in DeFi,” per their website, the Kyber Network has become somewhat synonymous with the lofty goal of unifying liquidity across disparate blockchains.
Built upon the Ethereum network in 2017, blockchain prodigies Loi Luu and Yaron Velner, alongside engineering expert Victor Tran, founded the Kyber Network as a means of further decentralizing the process of swapping tokens. As the first trading platform where users can swap without the intervention of a third party, the inherently decentralized architecture of the Kyber Network is emblematic of DeFi.
The Kyber Network is also credited with the development of the world's first dynamic market maker protocol (DMM), the Kyber DMM. In tune with market condition changes, the Kyber DMM helps optimize fees and general promote efficiency for liquidity providers.
Additionally, the KyberDAO acts as a comprehensive hub of governance, in which users can vote on proposals and perform tasks.
How to buy Kyber Network (KNC)
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