Review on Kyber Network by Benaiah A. Akinlade

Name: Kyber Network
Item: Kyber Network
Rating: 3

September 10, 2020

Kyber Network: Gradually making gentle strides

Kyber network was introduced in 2017. Its token, Kyber Network Crystal (aka KNC) is an ERC20 utility token used in connecting the stakeholders in Kyber's ecosystem. It is the first deflationary staking token whereby staking rewards and token burns are generated from actual network usage and growth in Decentralized Finance (DeFi).
KNC allows holders to determine the following on the network:
1.	the incentive system for stakers and voters,
2.	build a wide base of stakeholders, and 
3.	facilitate the economic flow in the network.
There is a little fee charged anytime time a tokens are exchanged on the network. The interesting part is that token holders are allowed to vote on the fee model and how it will be distributed.
Additional fees are generated in staking rewards and reserve rebates as more trades are transacted.
KNC holders are able to stake the token  in the KyberDAO and then vote on key parameters of the stake. Those who participate in the voting process will earn their staking rewards in Ethereum
Also, there are plans for some of the network fees to be burned so as to reduce the supply of KNC.
KNC holders are at liberty to determine the portion of network fees that are used as rebates for liquidity providers. This will be based on how well they  perform.
Some payment use cases of KNC are as highlighted below
It can be used for payments:
1.	through the Crypto. Com, Monolith apps and Visa cards.
2.	on the Kyber Swag Store powered by Origin Dshop
3.	at vendors that makes use of PundiX terminals
4.	of  loans, collateral, and margin trading on DeFi platforms
KNC token is an ERC20 token, so it can be held in the Ethereum wallets below;
-	Ledger 
-	Metamask 
-	Trezor 
-	Trust wallet
-	MEW
-	 Torus
-	 Argent among others 
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