Kyber Network Crystal v2

Kyber Network operates as a multi-chain epicenter for liquidity protocols, pulling liquidity together from numerous sources to facilitate swift and secure transactions on any decentralized application (DApp). The primary objective of Kyber Network is to provide DeFi DApps, decentralized exchanges (DEXs), and other users with straightforward access to extensive liquidity pools that offer optimal rates.

The platform's central DEX aggregator and liquidity service, KyberSwap.com, offers traders the most competitive swap rates in the DeFi space compared to standalone exchanges. It also helps liquidity providers maximize their earnings through high capital efficiency. By sourcing liquidity from multiple DEXes like Uniswap, Sushi, Curve, QuickSwap, Pancakeswap, Traderjoe, Pangolin, SpookySwap, SpiritSwap, VVS Finance, Velodrome, GMX, among others, KyberSwap ensures traders receive the best rates across different chains. KyberSwap supports more than 13 chains, including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Optimism, Velas, Aurora, Oasis, BitTorrent, Ethereum PoW, with Solana support coming soon.

KyberSwap is both decentralized and permissionless, meaning there's no need to register or provide personal information. All transactions occur on-chain, allowing them to be verified easily without involving a central authority, as is required with centralized exchanges.

Developers can leverage KyberSwap to integrate features such as instant token swap settlements, liquidity aggregation for the best rates, liquidity pools, and adaptable business models. By focusing on resolving liquidity challenges in the decentralized finance (DeFi) sector, Kyber allows developers to build products and services without worrying about liquidity needs.

The Kyber Network Crystal (KNC) token acts as a utility and governance token, serving as the "bond that unites various participants within Kyber's ecosystem." KNC token holders can stake their tokens in KyberDAO, playing a role in platform governance by voting on key proposals and earning staking rewards in KNC, sourced from trading fees. Investors in KNC include #Hashed, Signum Capital, ParaFi Capital, and HyperChain Capital.

Kyber Network, which began development in 2017, is built on the Ethereum blockchain. The initiative was brought to life by Loi Luu, Victor Tran, and Yaron Velner, with advisory support from Vitalik Buterin. Presently, Kyber Network is headquartered in the British Virgin Islands.

Currently serving as CEO, Victor Tran is an adept backend engineer and Linux system administrator. His previous roles included CTO at Clixy and 24/7 Digital Group, and he has also contributed to various projects in Vietnam as a developer.

Loi Luu, who holds the position of Chairman of Kyber Group, is recognized as a blockchain researcher and advisor for numerous blockchain projects. He created Oyente, the first open-source security analyzer for Ethereum smart contracts, and co-founded SmartPool, among other decentralized initiatives. His work on the scaling research project Elastico influenced the design of Zilliqa, a notable scalable blockchain project.

Yaron Velner now leads as CEO of B.Protocol, a decentralized backstop liquidity protocol, and was previously engaged in postdoctoral research. Although he stepped down from his CTO role at Kyber in October 2019, he continues to offer guidance as an advisor.

The Kyber team consists of professionals in fields such as engineering, product development, marketing, strategy, and business development, supported by several advisors. According to Kyber Network's official LinkedIn page, the company has over 50 employees worldwide.

KyberSwap.com, its multi-chain DEX aggregator and liquidity platform, grants traders access to the most favorable prices from multiple sources across different blockchains. It also allows liquidity providers to earn fees with optimal capital efficiency and returns by depositing tokens.

In 2021, KyberSwap introduced the world's inaugural dynamic market maker (DMM) protocol, which adjusts according to market conditions to enhance capital efficiency and earnings for liquidity providers.

In 2022, their advanced AMM Elastic protocol was released, featuring concentrated liquidity pools, adjustable price ranges, auto-compounding fees, and an anti-sniping measure that safeguards liquidity providers. These protocols collectively enable KyberSwap liquidity providers to significantly increase their capital by simulating much higher levels of liquidity, leading to superior capital efficiency, reduced slippage, and higher volume. Liquidity providers can earn considerably more fees relative to their contribution size, while traders benefit from minimal slippage on transactions. Additionally, liquidity providers can boost earnings via yield farming.

For developers, KyberSwap is crafted to be user-friendly. Its protocols can be seamlessly integrated into apps and other blockchain-based protocols for a variety of DeFi use cases. No single liquidity protocol can meet the needs of all liquidity providers, traders, and market participants, so KyberSwap's flexibility allows developers to swiftly innovate and implement new protocols to address varied liquidity requirements. KyberSwap has been integrated by DApps such as Coin98 Wallet, Krystal, DEXTools, Kattana Trade, Rome Terminal, Pegaxy, alongside other Aggregators like 1inch, Paraswap, 0x API, Matcha, and Slingshot.

The 'Discover' feature of KyberSwap employs AI and on-chain metrics to spot tokens that are currently trending or may trend soon, assisting traders in making smarter and better-informed trading choices.

Within the Kyber ecosystem, KNC token holders are crucial in shaping new value-capture opportunities and incentive mechanisms. Through KyberDAO, KNC holders participate in governance by voting on important proposals. Kyber's community is extensive, comprising a diverse array of developers and other contributors to the flourishing DeFi industry.

As of October 2022, the total supply of KNC tokens is 223.36 million. Of these, a little over 160 million are in active circulation. The KNC token is adaptable, as the KyberDAO can decide to adjust the supply—either increasing or decreasing it—to foster innovation, support liquidity, and reward early adopters of KyberSwap.

Kyber's initial coin offering (ICO) concluded on September 15, 2017, generating $52 million by selling KNC tokens at 0.00166 ETH each. As per the official token distribution document, 61.06% of the tokens were sold during the ICO, 19.47% were allocated to the founders, advisors, and seed investors, and the remaining 19.47% was retained by the company.

Being an ERC-20 token, KNC relies on the Ethereum blockchain for its security. Moreover, Kyber implements a comprehensive trust and security framework that guards users against any misconduct from administrators or exchanges, thanks to robust security measures embedded at both the protocol and smart contract levels.

Kyber's platforms, including KyberSwap and KyberDAO, as well as the KNC token, have undergone audits by multiple third-party security firms and experts, such as Chainsecurity and Hacken, verifying the safety and security of Kyber's various components.

You can purchase and trade KNC tokens on a range of exchange platforms, including well-known ones like Binance, Coinbase, Huobi Global, KuCoin, OKX, Kraken, and KyberSwap. The token is available on over 20 exchanges and features more than a dozen trading pairs, including stablecoins like Tether (USDT) and Binance USD (BUSD).

For those interested in learning how to buy KNC tokens or other cryptocurrencies using fiat currency, our comprehensive guide can help you get started.