KyberSwap
Kyber Network is a multi-chain liquidity protocols that aggregates liquidity from various sources. KyberSwap provides secure and instant transactions on any decentralized application (DApp). The main goal of Kyber Network is to enable DeFi DApps, decentralized exchanges (DEXs) and other users easy access to deep liquidity pools that provide the best rates.
KyberSwap.com, its main DEX aggregator and liquidity platform, provides the best swap rates for traders in DeFi compared to individual exchanges. KyberSwap protocol allows liquidity providers to maximize return. KyberSwap sources liquidity from over 70+ DEXes such as Uniswap, Sushi, Curve, QuickSwap, Pancakeswap, Traderjoe, Pangolin, SpookySwap, SpiritSwap, VVS Finance, Velodrome, GMX, and many others to achieve the best rates for traders on different chains. KyberSwap supports over 13+ chains including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Optimism, Velas, Aurora, Oasis, BitTorrent, Ethereum PoW, and Solana.
KyberSwap does not require account sign-up or personal information to trade. All transactions on KyberSwap are on-chain, which means that the transactions do not need a centralized third-party to execute, and they can be easily verified using the Ethereum or other chains’ block explorer.
Projects can build with KyberSwap to access its various features, such as instant settlement of token swaps, liquidity pool for best rate, liquidity pool and model Customizable business. Kyber seeks to solve the liquidity problem in the decentralized finance (DeFi) industry by allowing developers to build products and services without worrying about liquidity for various needs.
The Kyber Network Crystal (KNC) token is a utility and governance token that is the "glue that connects the various stakeholders in the Kyber ecosystem." KNC holders can staking their tokens in KyberDAO to help manage the platform and vote on important proposals – while also earning KNC staking rewards from transaction fees. Investors in KNC include #Hashed, Signum Capital, ParaFi Capital, HyperChain Capital.
Kyber Network began its development in 2017 and is built on top of the Ethereum blockchain. The project was founded by Loi Luu, Victor Tran and Yaron Velner, with Vitalik Buterin as an advisor. Kyber Network currently has its headquarters in Singapore while having a large presence in Vietnam.
Victor Tran is the current CEO of Kyber Network. He is an experienced backend engineer and Linux system administrator. He was the CTO at Clixy and 24/7 Digital Group as well as a developer for several projects in Vietnam.
Loi Luu is the current Chairman of Kyber Group. He is a blockchain researcher and an advisor for various blockchain projects. He developed Oyente, the first open-source security analyzer for Ethereum smart contracts, and co-founded SmartPool, among other decentralized projects. He also worked on a scaling research project called Elastico, which inspired the design of Zilliqa, a promising scalable blockchain project.
The Kyber team comprises employees from engineering, product, marketing, strategy, and business development, as well as several advisors. According to the official Kyber Network LinkedIn page, the company has over 50 employees globally.
In 2021, KyberSwap launched the world's first dynamic market maker (DMM) protocol, which reacts to market conditions to provide better capital efficiency and earnings for liquidity providers.
For developers, KyberSwap is designed to be developer-friendly. Its protocols can be easily integrated with other blockchain-based protocols and applications for any DeFi use case and usability. Since no single liquidity protocol can fit the needs of all liquidity providers, recipients, and other market participants, KyberSwap's agile developers enable fast Quickly innovate and integrate new protocols to meet different liquidity needs. KyberSwap has been integrated by Dapps such as Coin98 Wallet, Krystal, DEXTools, Kattana Trade, Rome Terminal, Pegaxy, as well as other Aggregates such as 1inch, Paraswap, 0x API, Matcha and Slingshot.
KyberSwap's 'Discover' feature also uses AI and on-chain metrics to identify tokens that are currently trending or may be trending in the near future, helping traders make trading decisions smarter and wiser.
In the Kyber ecosystem, KNC token holders play an important role in determining growth opportunities and capturing new value as well as incentive mechanisms. Through KyberDAO, KNC holders can participate in governance by voting on important proposals. Kyber's community is quite large and includes many developers, in addition to other members of the blossoming DeFi industry.
As of October 2022, Kyber Network has a total supply of 223.36 million KNC tokens[1]. Of these, just over 160 million tokens are in circulation. The KNC token is dynamic, with KyberDAO having the ability to vote to increase or decrease the supply in order to drive innovation, increase liquidity, and reward early KyberSwap users.
Kyber concluded its initial coin offering (ICO) on September 15, 2017, raising $52 million by selling each KNC token at a price of 0.00166 ETH. According to the official token distribution paper, 61.06% of tokens were sold in the ICO, 19.47% were saved for the founders, advisors and seed investors, and the remaining 19.47% was reserved for the company.
References
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