Review on Kyber Network by Inioluwa Okedeji
A Review On Kyber Network (KNC)
Kyber network has an on chain liquidity protocol that allows the swap of decentralized tokens to support any application.
Kyber Network (KNC) operates a protocol that supports a decentralized and instantly fast and automated exchanges of assets based on ethereum
Kyber network allows valued exchanges to be performed conveniently between all the parties in the ecosystem.
Developers can tap into its on chain protocol to build payment flows and financial apps not excluding the services of instantly swapped tokens, payments made via ERC 20 and financial decentralized applications(dapps) that are exquisitely innovative.
Kyber network aims to build a world where any token is of use anywhere it's needed.
Kyber Network Crystal (KNC) the native token of Kyber's network is an ERC 20 token.
KNC plays an important in the Kyber network. It is the adhesive that connects different stakeholders in the Kyber ecosystem.
KNC is currently ranked 62nd on coinmarketcap.
It's market cap is $250,858,538 USD.
KNC has a circulating supply of 198,083,010 KNC.
KNC's total supply is 210,440,861 KNC.
The Kyber network is a decentralized exchange that operates a decentralized finance.
KNC holders are privileged to stake KNC and also opportuned to vote on important proposals concerning Kyber network.
Rewards for participating in the staking of KNC are paid in ethereum (Eth).
Staking of KNC also increases a decentralized liquidity for Kyber network.
Pros
- The Kyber network is a decentralized exchange that operates a decentralized finance.
- KNC token can be used for payments at millions of vendors globally.
- Kyber's protocol supports multi applications on its network.
- Burning of KNC token on the Kyber network will eventually reduce the tokens circulating supply thereby pushing up its price.
- Kyber network's usage of limit orders is an added advantage for KNC token in the decentralized market.
Cons
- KNC token is not mineable.
