Review on Kyber Network by Stephen Toluwani
Kyber Network Crystal and it's use cases
Kyber Network Crystal is the native token of KyberSwap, a Decentralized Exchange that allows anyone to swap tokens supported on the blockchain with a smart contract to whatever coin or token they so desire without the users funds leaving his/her personal wallet. The mission of Kyber Network to integrate with other protocol which has proven successful allows a variety of Dapps and wallets to integrate with it's infrastructure. Kyber Network Crystal's very own exchange KyberSwap also integrates with other exchange like Uniswap allowing a larger Liquidity pool for it's users. Holders of Kyber Network Crystal token are allowed to stake the tokens on KyberDAO which gives them voting power on the fees in the exchange making the exchange a community based project. Not only that, the holders of the Kyber Network Crystal are rewarded with ethereum for holding. The recurring burning of the token from some of its network fees pushes the supply downward and momentarily should increase the tokens value. The integration of Kyber Network Crystal to different service provider such as PundiX, its own exchange KyberSwap, among the host of others makes the token valuable for users to go about their day to day transaction needs
Pros
- Runs a Decentralized Exchange with strong security and regards to its users privacy
- The Kyber Network Crystal is an ERC-20 compliant token so is supported on the ethereum blockchain and can be held on an Ethereum wallet that supports ERC-20 token
- The Kyber Network Crystal has been so integrated with many service providers to provide a plethora of services to it's holders
- The regular burning of its coin to limit supply should in time to come push the tokens price up thereby giving value to it's holders
- The Kyber Network Crystal can be staked on their platform KyberDAO where the staked can earn staking rewards in ethereum
- The use of limit orders on the exchange which I have never seen on any other decentralized exchange is sure to put Kyber swap in the forefront soon enough
Cons
- The Kyber Network Crystal token currently has a low USD value. Even the highs it touched was a mere $6 which is sure enough to discourage new investors
