How can KNC be used in Klever Wallet

Kyber Network is a decentralized platform that gathers liquidity from various sources to any developer working on decentralized applications

buy KNC

At a time when the crypto projects mainly depended on liquidity, Kyber Network (KNC) came to the rescue with its unique proposition of offering liquidity to decentralized finance (DeFi) and decentralized applications (DApps).

Built on the Ethereum blockchain, Kyber Network is a decentralized way to exchange tokens or any tokens built on the Ethereum network instantly, and that too without any registration. 

Besides providing liquidity, it also offers good rates. In addition, any Ethereum explorer can easily verify its transactions.

The Kyber Network Crystal (KNC) is a cryptocurrency of Kyber Network that is used to pay for key operations outside of this exchange, including voting on updates to the software’s rules.

The company says that its vision is to become the liquidity hub for the decentralized economy, where any user or application can easily access the required tokens for their liquidity needs. 

It is also working on building protocols that support convenient and secure value exchange in decentralized finance, NFT markets, and beyond, according to the company website

So far, Kyber Network has been used by many projects around the world for their liquidity needs. Any developer building innovative DeFi applications on Ethereum, Polygon, Binance Smart Chain, Avalanche, Fantom, and others can use Kyber.

Kyber Network is an open-source platform that is governed by the KyberDAO, a decentralized community of KNC token holders who stake their tokens and collectively vote and decide on key network parameters.

Who founded KNC?

In 2017, Loi Luu, Victor Tran, Yaron Velner founded Kyber Network and it went live on the Ethereum network in February 2018.

Loi Luu is a blockchain researcher and developed Oyente, the first open-source security analyzer for Ethereum smart contracts, whereas Victor Tran is a senior backend engineer and Linux system administrator. 

On the other hand, Yaron Velner, a postdoctoral researcher stepped down CTO position at Kyber in October 2019 but remains as an advisor. He is currently CEO of B.Protocol, a decentralized backstop liquidity protocol. 

What makes the Kyber Network unique?

Kyber Network is the first platform that allows any developer to instantly swap tokens without the need of a third party, like a centralized exchange. 

This unique feature of KNC is very developer-friendly and enables various protocols to be integrated into applications and other blockchain-based protocols.

As Defi has many use cases and possibilities, there is no single protocol that fits the need of all liquidity providers and other participants. The liquidity hub of KNC helps developers and KNC teams rapidly integrate new protocols on the KNC platform to expand its reach to provide liquidity.

In order to take this forward, KNC launched Kyber DMM, the world’s first dynamic market maker protocol, that provided stablecoins liquidity pairs which have very low variability in the price range (like USDC/USDT).

The next generation DMM is designed to react to real-time market conditions, optimize fees, maximize earnings, and enable extremely high capital efficiency for liquidity providers. 

Market capitalization

As of 18 June 2022, KNC has a market capitalization of over $237 million with 24 hours trading volume of over $37 million. KNC was trading at $1.34 on crypto exchanges with an overall circulation of 177 million. The company has yet not declared its maximum KNC token supply, but its total supply is 177 million, according to CoinMarketCap.com.

KNC on Klever Wallet 

Klever Wallet offers a state-of-the-art crypto trading platform that allows users to buy, sell and stake their crypto assets. Klever Wallet also allows users to earn passive income from the crypto-assets in their wallets. 

At Klever, users can swap their KNC with over 300 plus other crypto-assets and also buy other tokens directly with their debit/credit cards or even using the bank’s wire service. 

Users can send and receive KNC tokens in their Klever wallet, they can also check charges that they will incur for buying or selling their tokens. 

With KNC certified by several third-party security firms and researchers as a secured protocol-free from any vulnerabilities, Kyber Network has become an important crypto asset now. This offers the holders another reason to hold KNC in their portfolio and increase it further, as it can be a good digital asset to hold for the future. 

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