What does it do?
Kyber is an on-chain liquidity protocol that aggregates liquidity from a wide range of reserves, powering instant and secure token exchange in any decentralized application.
- Kyber Network’s protocol is Platform-agnostic which means that any application or protocol may be powered by their liquidity network
- Instant settlement and no transaction uncertainty
- Ease of integration with different applications
- On-chain and fully transparent
|Company Name||KYBER NETWORK PTE. LTD.|
|Incorporation Address||8 EU TONG SEN STREET|
|Initial Funding & Distribution|
|Total Supply Sold||138 000 000 KNC|
|Total Amount Raised||52 000 000 USD|
|Price During the Crowdsale||0.38 USD|
|Hard Cap||46 000 000 USD (raised 13% more)|
|Token Distribution||61.06% Public|
19.47% Founders/Advisors/Seed Investors
|Funds Distribution||50% Reserve (26M USD)|
30% Development (15.6M USD)
10% Legal/Mark (5.2M USD)
10% Operations (5.2M USD)
|Crowdsale Date||September 16, 2017|
| Sources: https://icodrops.com/kybernetwork/|
|Co-founder & CEO||Loi Luu|
|Co-founder & CTO||Yaron Velner|
|Co-founder & Head of Development||Victor Tran|
|Total number of Commits||11 425 Commits (32 Repositories)|
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Potential market and clients
The potential depends on the trust of centralized exchanges because they directly compete with decentralized exchange protocols, such as Kyber Network. Market will decide if it needs more autonomous exchange solutions or simply rely on some well managed centralized exchanges. The main clients that need access to liquidity are individuals, DApps, vendors, payment gateways, decentralized funds.
Utility and economic dynamics
- KNC tokens are required to operate as reserves because they are paid to the network as fees.
- Projects that have integrated Kyber can earn a commission as part of the fee sharing program for directing trades from their platforms.
- The remaining fees collected (after paying for the operation expenses and distribution for the fee sharing program) are burnt.