Kyber Network (KNC), a liquidity protocol allowing decentralized token swaps to be implemented into any application today announced it has partnered with Daonomic, a project that specializes in launching different types of token sales, managing token issuance, and migrating real-life assets to the blockchain. The integration will provide Kyber users the option to participate in Daonomic token sales using a wide range of tokens.
Daonomic will be the first of a new class of integrations with Kyber Network that will help make the token sale experience more seamless. The goal is to facilitate token sales in a way that creates a fair, transparent and widely-distributed token economy. Within this context, the Kyber team elected to discontinue KyberGO, a token sale hosting platform that provided a place for individuals to contribute to ICOs using different ERC20 tokens. This will allow the Kyber team to focus its liquidity protocol to be used by the entire ecosystem for token sale contributions.
[perfectpullquote align=”full” bordertop=”false” cite=”Anton Buenavista, Developer at Kyber Network” link=”” color=”” class=”” size=””]”At Kyber, we are focused on allowing any token to be used anywhere. Our liquidity protocol serves a very wide range of platforms and applications, from wallets, financials DApps, to games and other unique applications. Over the last two years, we’ve also seen an explosion of token issuance events with hundreds of teams creating and issuing tokens.”[/perfectpullquote]
Daonomic is an automated solution to launch and manage utility and security token sales (STO). Unlike typical providers, Daonomic offers a self-service tokenization toolkit that allows token teams to create a token and start a token sale, without requiring any coding, technical expertise, or blockchain experience. Their simple web interface template provides easy navigation and offers standard pre-engineered models with automatically generated smart contracts. There is also a built-in KYC engine that supports both open-source self-hosted and 3rd party-integrated verification services. Other key features provided by Daonomic include broker-dealer services and real-time token emission after payment.
What is Daonomic using Kyber for?
Daonomic has integrated Kyber to expand available payment methods for investors. Token issuers using Daonomic’s platform and software can easily add the feature to offer ERC20 payments during their token sale, allowing the investor to easily pay with any ERC20 token supported by Kyber. The integration is already live, and there are projects in the pipeline that will be utilizing it for their token sales.
Below are examples of how the ERC20 token payment feature will look to Token issuers and investors:
When an issuer creates a token:
Check out the video below of how a project can create a new token and launch a sale, as well as enable users to pay with ERC20 tokens:
When an investor purchases tokens:
Check out the video below of how a user contributes to a token sale using ERC20 tokens:
Any token sale or issuance platform can integrate Kyber’s payment technology (natively or as a widget), effectively allowing their users to participate in token sales using different ERC20 tokens, yet receiving payment in its preferred token. For instance, token issuers can now receive payment not just in ETH, but also in stablecoins such as DAI or TUSD.