Subscribe to Our Newsletter
Wednesday August 10, 2022
Bitcoin (BTC) $22,928.14   Ether (ETH) $1,680.43
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
No Result
View All Result
Easily Swap USDT (TRC20) & More
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
Koinly
CryptoNinjas
Home Networks & Protocols

‘Katalyst’ protocol upgrade and new KNC token model goes live on Kyber Network

KyberDAO begins staking KNC to vote on various protocol parameters and changes and receive the rewards in ETH

Published by CryptoNinjas.net
07/07/2020
‘Katalyst’ protocol upgrade and new KNC token model goes live on Kyber Network

Kyber Network, a liquidity protocol that aggregates on-chain liquidity and enables decentralized token trading in any application announced today, the launch of the Katalyst protocol upgrade to better meet the liquidity needs of the entire decentralized ecosystem.

The KyberDAO, as well as changes to the KNC (Kyber Network Crystal) token model to align incentives from different stakeholders and attract more participants to the development of the protocol from the wider community, goes live from 7 AM GMT, 7th of July 2020.

“Kyber’s growth trajectory and breadth of integrations across the DeFi stack are impressive, as it evolves to become a liquidity protocol for the ecosystem,” said Santiago Roel Santos, Partner at ParaFi Capital.

“With Katalyst, the more active community members participate, the better rewards get returned. Therefore, it will turn more holders into genuine and devoted members of the community,” said Simon Seojoon Kim, Ceo at Hashed.

KyberDAO, a community platform that now allows KNC token holders to participate in governance via a new staking and voting mechanism. KNC holders are now able to stake KNC to vote on various protocol parameters and changes, playing a key role in the direction and success of Kyber Network. In return, they receive rewards in ETH, from network fees collected from trading activities in the network.

KyberDAO platform is a mobile-optimized decentralized application that can be accessed on any platform with Web3 connectivity. The KNC staking and withdrawing process is very fast and simple and can be done within a few minutes.

Users can begin staking KNC for one week from today, and start voting on the first KyberDAO proposal in Epoch 1 (beginning on the 14th of July). There is no minimum or maximum KNC that needs to be staked, no KNC lockup period, no ‘slashing’ (no loss of KNC due to any penalty), and no running of nodes required. Through the official KyberDAO platform, users will always have full control and ownership over KNC staked, and can withdraw it anytime.

“Staking incentive and rebate for makers will bring liquidity for the network and more liquidity is a very welcome thing for Kyber’s sustainability,” explained Ben Chan, CTO at Bitgo.

“Kyber team has been driving force in the growth of DeFI as a liquidity layer and they are ready to move to the next level with Katalyst upgrade. Trust wallet will support Kyber’s journey with in-built dapp browsers for our community to access Kyber’s staking and voting in a simple manner,” said Viktor Radchenko, CEO at Trust Wallet

KNC holders who do not wish to participate in governance will still be able to earn rewards by delegating their tokens and voting power to KyberDAO Pool Operators. Reputable platforms such as StakeCapital, StakeWith.Us, RockX, and Hyperblocks will launch their KNC staking and delegation services soon. Also, Trust, imToken, Status, Alpha Wallet, Opera, Enjin, HTC Exodus, and all other crypto wallets with in-built dapp browsers will provide access to Kyber’s staking DApp gradually.

“Katalyst will help cement Kyber’s position as the top liquidity provider in DeFi space,” said Michael Ng, Co-founder, Unagii by Stakewith.us.

“Kyber already provides liquidity for many transactions and applications, and liquidity is precisely the key to the entire decentralized economy, said Xinshu Dong, Co-Founder at RockX. “The upgrade will allow community members to participate actively in governance and Kyber’s continuous growth.”

“xToken is excited to partner with Kyber as they experiment with a new paradigm for decentralized governance. Katalyst is a big step forward for Kyber and for DeFi,” said Michael Cohen, Founder, xToken.

Kyber has crossed USD $1 billion in total trading volume and 1 million on-chain transactions since its launch in April 2018. It is the leading liquidity provider in the DeFi space, with more than 100 DApps integrated with its open-source, permissionless protocol. Katalyst will harmonize Kyber’s efforts towards providing a single on-chain liquidity endpoint for all takers and makers, and establish a long-term virtuous loop where the success of the DeFi space, growth of the Kyber ecosystem, and value creation for KNC holders go hand in hand.

59
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram
Via: kyber.network

Related News

KyberSwap DEX introduces new trading leaderboard feature

07/05/2022
KyberSwap DEX introduces new trading leaderboard feature

Kyber Network, the multi-chain liquidity hub, today introduced its new Campaigns page complete with a brand new Trading Leaderboard, particularly for KyberSwap Trading Contests. Kyber's flagship decentralized exchange (DEX), KyberSwap, provides the best available rates...

Read more

Crypto liquidity protocol KyberSwap implements new live price charts and trade route displays

01/13/2022
Crypto liquidity protocol KyberSwap implements new live price charts and trade route displays

KyberSwap, a DEX aggregator and liquidity protocol for traders and liquidity providers, announced today it now provides live price charts for all tokens. Moreover, the Kyber team has also made the display of trade...

Read more

Crypto wallet Coin98 integrates Kyber Network’s DMM liquidity protocol

07/07/2021
Crypto wallet Coin98 integrates Kyber Network’s DMM liquidity protocol

Coin98 Wallet, a non-custodial cryptocurrency wallet to store, manage, trade, and swap multi-chain tokens, has integrated Kyber Network’s newest liquidity protocol. With the Kyber DMM liquidity protocol now accessible on Coin98 Wallet, users can...

Read more

Crypto liquidity ecosystem Kyber to deploy its new market maker protocol on Polygon

06/16/2021
Crypto liquidity ecosystem Kyber to deploy its new market maker protocol on Polygon

Following the approval of KIP-9 by KyberDAO, it was announced today that crypto liquidity platform Kyber will deploy its new Kyber DMM (Dynamic Market Maker) protocol on the Polygon network on June 30th. This announcement...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
ELLIPAL now supports Zcash (ZEC) for cold storage and trading

ELLIPAL now supports Zcash (ZEC) for cold storage and trading

01/14/2020
Crypto intel platform Metrika adds support for Hedera network activity & performance

Crypto intel platform Metrika adds support for Hedera network activity & performance

08/03/2022
New Overledger release now supports QRC-721 NFTs on Tokenise developer API

New Overledger release now supports QRC-721 NFTs on Tokenise developer API

08/05/2022
Korean crypto exchange KODA to use Uppsala to boost AML and threat detection

Korean crypto exchange KODA to use Uppsala to boost AML and threat detection

08/01/2022
Tetrix and Pitaka crypto wallet launch ‘Tetrix Link’ to digitize contact exchange

Tetrix and Pitaka crypto wallet launch ‘Tetrix Link’ to digitize contact exchange

08/09/2022
THORWallet expands DeFi swap functionality with Rango Exchange integration

THORWallet expands DeFi swap functionality with Rango Exchange integration

08/08/2022
pSTAKE's BNB liquid staking solution (stkBNB) is now live

pSTAKE’s BNB liquid staking solution (stkBNB) is now live

08/08/2022
DeFi liquidity mining platform Grizzly.fi collects $26M in 'Community Fair Launch'

DeFi liquidity mining platform Grizzly.fi collects $26M in ‘Community Fair Launch’

08/08/2022
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

Go to mobile version