More information about KYBER NETWORK CRYSTAL
About
Kyber Network is connecting the fragmented tokenized world by enabling instant and seamless transactions between platforms, ecosystems and other use cases.
Kyber is a on-chain liquidity protocol that anyone can tap into for a wide variety of inter-token use cases. For example, vendors are able to accept payments in multiple tokens on their e-commerce platforms yet receiving in their preferred token. In addition, dApps can allow users who are not their token holders to utilize their platform and services with other tokens, and decentralized financial projects have the means to rebalance their portfolio instantly.
Liquidity is in turn facilitated through an open reserve architecture that allows anyone to contribute their idle token assets to our decentralized central liquidity pool and earn from the spread in every transaction. These tokens become available for use across any platform that taps into the network, making them instantly more liquid and useful.
Kyber Network’s protocol has been built based on 3 core design philosophies:
- PLATFORM-AGNOSTIC : It is Platform-agnostic, allowing any application or protocol to be powered by our liquidity network, without limiting innovation and ecosystem diversity.
- INSTANT SETTLEMENT AND NO TRANSACTION UNCERTAINTY : Our protocol makes real world commerce and decentralized financial products feasible by enabling instant inter-token transactions with a wide range of token options and no settlement risk, which are critical factors for many use cases.
- EASY OF INTEGRATION : Kyber is built for easy of integration with different applications, as we run fully on-chain and all operations are transparent. Our key design focus is to be developer-friendly and highly compatible with other systems.
In today’s rapidly tokenizing world, projects are busy building innovative platforms and introducing their own token use case, without paying much attention to establishing meaningful collaboration across different entities. Bitcoin created the first cryptographic token, Ethereum took it one step further by enabling the easy tokenization of assets and creation of tokens. Consequently, there has been an explosion in the number of tokens, with each token usable only within its own isolated ecosystem.
Kyber Network helps to connect all these disparate, isolated token ecosystems and makes tokens useful in a wide range of use cases. In doing so, we enable the next phase of the tokenized world.
Kyber Network has always been consistent in delivering our key milestones. Our team has been pioneering the development of protocols that are widely recognized as being instrumental in the development of smart contract security, sharding research, and decentralized applications.
We envision a future where anyone who owns tokens, or buys into a tokenized hedge fund, can easily use these tokens in any context they want. In this future, one can use gold-backed tokens to buy a T-shirt in a matter of seconds, invest in alternative funds in a completely different part of the world or use tokenized real estate to buy jewellery for a loved one.
When such seamless cross-border and cross-platform value flow is eventually possible, Kyber Network would have taken a major step towards making the promise of a truly decentralized world a reality.
Kyber Network Crystal (KNC)
Kyber Network Crystal (KNC) is an ERC-20 token and an integral part of Kyber Network. KNC is the glue that connects different participants in the Kyber Network ecosystem, including both liquidity contributors and the different entities that leverage on the liquidity network.
KNC facilitates the smooth operation of the reserves system in our liquidity network. To operate and provide token liquidity, 3rd party token reserves are required to purchase KNC to pay for their operation in the network. Kyber Network charges transaction fees, in KNC, from these reserves.
By registering and plugging into our liquidity network, DApps (decentralized applications) and businesses earn commission in KNC after every transaction that they facilitate in Kyber Network. For instance, a DApp platform integrated with our APIs will receive referral fees in KNC for directing more users to our network and helping us generate greater adoption.
In each transaction, a portion of the collected fees (in KNC) on Kyber Network are taken out of circulation forever.
Kyber is a on-chain liquidity protocol that anyone can tap into for a wide variety of inter-token use cases. For example, vendors are able to accept payments in multiple tokens on their e-commerce platforms yet receiving in their preferred token. In addition, dApps can allow users who are not their token holders to utilize their platform and services with other tokens, and decentralized financial projects have the means to rebalance their portfolio instantly.
Liquidity is in turn facilitated through an open reserve architecture that allows anyone to contribute their idle token assets to our decentralized central liquidity pool and earn from the spread in every transaction. These tokens become available for use across any platform that taps into the network, making them instantly more liquid and useful.
Kyber Network’s protocol has been built based on 3 core design philosophies:
- PLATFORM-AGNOSTIC : It is Platform-agnostic, allowing any application or protocol to be powered by our liquidity network, without limiting innovation and ecosystem diversity.
- INSTANT SETTLEMENT AND NO TRANSACTION UNCERTAINTY : Our protocol makes real world commerce and decentralized financial products feasible by enabling instant inter-token transactions with a wide range of token options and no settlement risk, which are critical factors for many use cases.
- EASY OF INTEGRATION : Kyber is built for easy of integration with different applications, as we run fully on-chain and all operations are transparent. Our key design focus is to be developer-friendly and highly compatible with other systems.
In today’s rapidly tokenizing world, projects are busy building innovative platforms and introducing their own token use case, without paying much attention to establishing meaningful collaboration across different entities. Bitcoin created the first cryptographic token, Ethereum took it one step further by enabling the easy tokenization of assets and creation of tokens. Consequently, there has been an explosion in the number of tokens, with each token usable only within its own isolated ecosystem.
Kyber Network helps to connect all these disparate, isolated token ecosystems and makes tokens useful in a wide range of use cases. In doing so, we enable the next phase of the tokenized world.
Kyber Network has always been consistent in delivering our key milestones. Our team has been pioneering the development of protocols that are widely recognized as being instrumental in the development of smart contract security, sharding research, and decentralized applications.
We envision a future where anyone who owns tokens, or buys into a tokenized hedge fund, can easily use these tokens in any context they want. In this future, one can use gold-backed tokens to buy a T-shirt in a matter of seconds, invest in alternative funds in a completely different part of the world or use tokenized real estate to buy jewellery for a loved one.
When such seamless cross-border and cross-platform value flow is eventually possible, Kyber Network would have taken a major step towards making the promise of a truly decentralized world a reality.
Kyber Network Crystal (KNC)
Kyber Network Crystal (KNC) is an ERC-20 token and an integral part of Kyber Network. KNC is the glue that connects different participants in the Kyber Network ecosystem, including both liquidity contributors and the different entities that leverage on the liquidity network.
KNC facilitates the smooth operation of the reserves system in our liquidity network. To operate and provide token liquidity, 3rd party token reserves are required to purchase KNC to pay for their operation in the network. Kyber Network charges transaction fees, in KNC, from these reserves.
By registering and plugging into our liquidity network, DApps (decentralized applications) and businesses earn commission in KNC after every transaction that they facilitate in Kyber Network. For instance, a DApp platform integrated with our APIs will receive referral fees in KNC for directing more users to our network and helping us generate greater adoption.
In each transaction, a portion of the collected fees (in KNC) on Kyber Network are taken out of circulation forever.
https://kyber.network
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