Kyber.Network

KyberNetwork is a new system which allows the exchange and conversion of digital assets
Project Overview
Updated: 2017-09-10 08:37:12 UTF
Project name
Kyber.Network
Ticker (Symbol)
KNC
Timeline (UTC)
2017/09/15 0:00
2017/09/18 0:00
Raised (Symbol)
200,000 ETH
200,000 ETH
Description

$49,304,000.00 raised.

Co-founded by Loi Luu and the creators of Oyente and Smartpool, KyberNetwork will be the first to implement an exchange that includes trustless, decentralized execution with instant trading and high liquidity by using an innovative system that incentivizes reserve managers. The result is a platform that handles trading, payments, and complex financial transactions like derivative options and forward contracts, while also integrating as a payment API that allows wallets to receive payment from any crypto tokens.

KyberNetwork solves the issue of liquidity by introducing a new system for any user to trade any token instantly and completely securely with guaranteed liquidity. Their approach is through the utilization of reserve managers, who are incentivized by monetizing their otherwise idle assets. By serving trade requests from users, reserves earn profit from the spread determined by reserve managers. As the network gains more traffic through collaborations with wallet providers and various other token projects, reserve managers will benefit directly from the trading volume due to network effects within KyberNetwork.

KyberNetwork will also introduce a new smart contract interface that will allow existing wallets, which only accept certain specific tokens (e.g. one that only accepts REP, GNT, etc. but not others), to receive any existing or future token (e.g. PAY and CVC) without having to modify the token contract code (i.e. the recipient is not aware that the payment actually was proxied via KyberNetwork). In other words, it enables smart contracts and recipients to access a wider class of users and receive contributions and payments from any token that the platform supports.

Token Platform
Technology
Ethereum Ether (ETH) Blockchain
Token Supply Total
226,000,000 KNC
Team Members
Loi Luu CEO & CoFounder
Yaron Velner CTO & CoFounder
Victor Tran Lead Engineer & CoFounder
Joseph Lee Lead Trading Platform
Lee Tsun Ngai Head Of Business Development
Phuong Vu Designer
Andrew Nguyen Web Developer
Wong Lee Hong Executive Advisor
Vitalik Buterin Advisor
Country Base
Unknown
Social Activities
Youtube video
Twitter Timeline