Kyber Network is an on-chain, liquidity protocol that connects token ecosystems for instant, seamless and secure transactions. It allows businesses to receive any token as payment and receive it in their favored one (Vendors), exchange token in their wallet application (Wallets), source liquidity and use arbitrage programs (DApps) and to liquidate assets or rebalance token portfolios.
Kyber Network was designed on the core values: platform agnostic, instant settlement (It offers settlement without risk and immediate inter-token transaction) and ease of integration (as it operates fully on-chain and transparent its design is innovative and compatible with other systems)..
The Kyber Network is a decentralized exchange protocol that provides on-chain liquidity. By on-chain liquidity, it means it is able to give users the ability to swap and exchange ERC-20 tokens with one another on the Ethereum blockchain. The Ethereum blockchain is the most widely used smart contracts platform and a growing world computing machine.
Kyber Network allows such transfers to happen through single transactions using smart contracts. Transactions and token exchange rates are taken from an aggregated liquidity pool across multiple sources to give users the best rates available.
Kyber is the liquidity infrastructure for decentralized finance. Kyber aggregates liquidity from diverse sources into a single pool, which provides the best rates for takers such as DApps, Wallets, DEXs, and End-users. Transactions on Kyber are fully on-chain and thus fully transparent and verifiable.
Benefits to using Kyber Network
Instant trade settlement – You don’t have to wait for any order fulfillment because settlement and matching is all done within one single transaction.
There is no partially executed orders – it is all done or none of it is done (executed or reverted).
Complete transparency – anyone can verify the rates that are being offered by the reserves to ensure they are getting the best rates available at the time of execution.
Easy to integrate – Kyber Network is simple to use and is easily integrated with smart contracts using the Ethereum blockchain.
Kyber KNC Token
The Kyber Network KNC token facilitates smooth operation of the decentralized liquidity network. Prior to updates one of the only ways that KNC holders would benefit was from the burning of tokens when fees occurred. This creates a benefit for those who HODL long term.
The burning alone is not enough incentive and it does not reward those who participate in the network. The network will not grow exponentially without the participants being rewarded. This will change with the release of the Kyber Dow and reserve incentives. Burning will still take place on the protocol but holders will also have the opportunity to earn more KNC through the following.
Staking on the Kyber Network – Stake and participate in the KyberDAO to get rewards from the network fees.
Reserve incentiveskyber network katalyst upgrade
– Rewards for providing liquidity and being a market maker. This creates more trading opportunities and helps to grow the Kyber Network ecosystem as a whole.
Kyber Network is connecting the fragmented tokenized world
Kyber is an on-chain liquidity protocol that can be integrated into any application to enable the exchange of tokens without the need for an intermediary.
Reserves provide liquidity
Through an open reserve architecture, individuals, token teams and professional market makers can contribute token assets to our liquidity pool and earn from the spread in every trade. These tokens become available at the best rates across DApps that tap into the network, making them instantly more liquid and useful.
Takers access liquidity for multiple use cases
Kyber supports a wide variety of decentralized use cases. For example, vendors are able to accept payment in multiple tokens on their e-commerce platforms yet receive in their preferred token. DApps can also allow users who are not their token holders to utilize their services with other tokens, and DeFi projects can rebalance their token portfolio instantly.
Governed by the Community
The protocol is open source and governed by the KyberDAO, a decentralized community of KNC token holders who stake their tokens and collectively vote and decide on key protocol parameters.
Why Kyber Network?
Decentralized finance needs decentralized liquidity, and Kyber is the key infrastructure that provides the necessary liquidity for the whole ecosystem of DApps to operate.
Fully on the Blockchain
Unlike off-chain or semi-off-chain systems, Kyber allows blockchain apps to easily integrate with its protocol.
Liquidity Aggregation for the Best Token Rates
Kyber ensures the best rates by collecting liquidity from more than 40 different liquidity sources called reserves.
Transparent and verifiable
All operations are fully transparent and verifiable on the blockchain.
Kyber Network will be the transaction layer for the decentralized economy
.Kyber has been instrumental in the development of smart contract security, sharding research, and decentralized applications.Kyber will enable a future where anyone who owns tokens can easily use them in any context they want. One can use gold-backed tokens to buy a T-shirt in a matter of seconds, invest in alternative funds in different parts of the world or use tokenized real estate to buy jewellery for a loved one. This is a future where seamless cross-border and cross-platform value flow becomes a reality.
Build With Kyber
Come build on the world’s most used decentralized finance (DeFi) protocol. Kyber enables a wide range of decentralized use cases by allowing any wallet, website, and application to integrate instant token exchange directly into their application logic.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.