Kyberswap is a decentralized exchange powered by the Kyber Network protocol, one of the easiest and fastest decentralized services for buying and selling tokens using an on-chain liquidity protocol.
KyberswapA decentralized exchange powered by the Kyber Network protocol, this platform is one of the easiest and fastest decentralized services to offer token purchase and sale using on-chain liquidity protocols.
KyberSwap was launched on the main ethereum network in February 2018. Since then, KyberSwap has facilitated over 827,000 ETH worth of transactions, provided token exchange services for over 50 applications, supported over 70 ERC20 tokens, and has over 24 different reserves that provide liquidity to the network. Using KyberSwap, crypto token holders can confidently enable exchanges between Ether and more than 70 ERC-20 tokens, including DAI, BAT and MKR. These come from token reserves with liquidity from a variety of sources, providing users with the most competitive exchange rates.
Features of the KyberSwap Platform
Security is one of the main factors that attracts users to KyberSwap. In addition to this, there are some other key features of KyberSwap.
1. The KyberSwap protocol is built entirely on the chain
The KyberSwap protocol is built entirely on-chain, which facilitates integration of the Kyber protocol with other blockchain applications.
2. Liquidity pool with optimal token rates
Liquidity from over 40 different sources on KyberSwap means that users get the best rates when using the system.
All operations on the KyberSwap platform are fully verifiable, ensuring maximum transparency between all parties involved.
The utility of KNC tokens
The Kyber Network Crystal (KNC) token is Kyber Network's ERC-20 utility token. It is a platform for connecting different stakeholders in the Kyber ecosystem. It currently has approximately 198,343,194 KNC tokens in circulation and is live on most major cryptocurrency exchanges such as Cryptocurrency, FireCoin, HBTC, and OKex.
KNC enables token holders to play a key role in determining the incentive system. This helps to build a large stakeholder base, thus ensuring smooth economic activity on the net. A small fee is charged each time a token is exchanged on the net. KNC tokens provide holders with fees and profit sharing for this model, as well as the power to make and vote on other important decisions, thus fulfilling the vision of democratizing the Net.
As time passes and more transactions are executed, more fees will be incurred for pledge rewards and reserve pool rebates, and more KNCs will be destroyed. This will result in a reduced supply of KNC tokens as time passes. KNC holders determine what portion of the net fee will be used as a rebate from the liquidity provider (reserve pool) based on their transaction volume performance.