What is Kyber Network?
Kyber Network is the liquidity protocol that powers KyberSwap, a decentralised exchange. KyberSwap is both a native trading protocol and an aggregator of other DEXs, and it also supports several blockchains. Instead of being based on a classic order book or an Automated Market Maker, KyberSwap is based on a DMM (Dynamic Market Maker). This protocol ensures that fees always remain appropriate and proportional to the trading risk, in accordance with the volatility of the market. Another of Kyber Network’s innovations is the “Amplification” feature, which allows users to program price curves, allowing a liquidity pool to mimic the levels of liquidity necessary for a trade without actually having the corresponding tokens. These features and the aggregation software allow for more stable and affordable markets.
Why follow Kyber?
Kyber fully engages with the world of DeFi, but it does so with an approach centred on technological innovation. The native token is KNC, the acronym of Kyber Network Crystal, which helps involve the community with issues and decisions concerning the ecosystem. In fact, the dedicated DAO (KyberDAO) allows holders to participate and vote on development proposals, either through staking or by delegating their stake. What’s more, the token’s use cases also include various activities engaging the community outside of governance, such as contests, giveaways and AMAs.
How was it created?
A project originating in Asia, Kyber Network began to take shape in 2017 in parallel with the main DeFi networks. Its founders are Loi Luu, Victor Tran and Yaron Velner. The offices are based in British Virgin Islands, with an ever-expanding team. Kyber now collaborates with DApps in various sectors, from gaming to DeFi, mainly as a liquidity provider for their various needs.
Stay up to date with the price of Kyber Network
Buy Kyber Network in 3 steps on Young Platform
What does the Young Platform do?
Young Platform is the European exchange that blends simplicity with security, already chosen by over 2 million people for buying and selling cryptocurrencies. Backed by significant entities such as Azimut, United Ventures, and Banca Sella, Young Platform eases your entry into the world of cryptocurrencies with a user-friendly interface, easy-to-use trading tools, educational courses, and up-to-date news, all designed to be accessible to everyone. And the best part? It's completely free.
Check out the Top movers
Take a look at the prices of cryptocurrencies that have reached higher volatility in the last 24 hours and catch market trends.
