Kyber Network Coin- What is Kyber Network?

kyber network coin what is kyber network   kyber network is a liquidity hub based on 
blockchain technology it functions to connect   liquidity from different sources to enable 
instant secure cryptocurrency exchange in   any decentralized app when was kyber launched 
kyber's initial coin offering ico was in 2017.   the project launch came in early 2018. kyber uses 
different sets of liquidity pools or reserves   market makers liquidity pools token projects 
and token holders give aggregated liquidity   to reserves takers like defy apps wallets and 
exchanges can then access these assets for trade   coindesk 2 provides a series of 
institutional grade value indexes   how kyber works being a liquidity hub kyber 
network provides rates for takers like dexes   d apps aggregators wallets and users kyber 
transactions are fully on chain they are thus 100   transparent and verifiable kyber enables different 
decentralized use cases it does so by supporting   any app or wallet to integrate prompt token 
exchange right into their application logic what   is kyber dao kyber dao governs the kyber network 
protocol on behalf of its native knc token holders   knc stands for kyber network crystals kyber dao 
is a community network that enables kyber network   coin holders to take part in governance knc coin 
holders can vote on proposals by staking knc   having done so they get receive rewards in ed 
gained from kyber network trading activity fees   how popular is the kyber network as of when i'm 
publishing this video kyber network has integrated   over 100 apps it also powers kyber swap which 
is kyber networks dex or decentralized exchange   why is liquidity critical to the defy ecosystem 
kyber network avails critical liquidity to defy   but why is liquidity critical to the defy 
ecosystem in cryptocurrency liquidity refers   to various things 1.

The capacity to trade an 
asset without shifting its price significantly   2. the volume of trading activity within a market 
3. the ease of conversion of an asset to cash   liquidity is crucial to healthy and functional 
user-friendly markets but it is difficult for   emerging defy protocols to attain and retain it 
in conventional financial markets centralized   institutions like banks and financial entities 
provide liquidity but defy markets cannot   attempt to utilize centralized institutions 
for liquidity purposes such a move would run   contrary to the decentralization ethos of the 
defy ecosystem that's the problem that caused   replacer permissionless protocols such as kyber 
network to emerge kyber network has a mission to   formulate a situation whereby any valuable token 
is available for exchange in any wallet it seeks   to also ensure tokens are accessible to payment 
services and newly emerging financial products   how does kyber network work kyber network 
comprises a series of smart contracts   these smart contracts are implementable 
on any smart contract capable blockchain   for now it is only implementable on ethereum kyber 
network aggregates liquidity from various reserves   these pools include market makers token holders 
and dexes into a single liquidity reserve on its   network anyone can avail liquidity to the network 
kyber network works with its three primary users   that is crypto wallets vendors and d 
apps for decentralized applications   it facilitates them to perform instant token 
swaps with no need for a trusted third party   let's look at two types of trades in every 
trade one token represents the core asset eth   currently acts as the core asset token 
in the protocols ethereum implementation   that means that any trade needs to involve a swap 
of ether for another token think of a scenario   where you want to exchange eth for bat or braves 
basic attention token let's call this trade one   this is how it would go step one you will 
send the eth to kyber network smart contract   step two the contract will then query all of its 
pools or reserves for the most favorable eth to   bat exchange rate step 3 the contract will 
then send your eth to the reserve applying   the best ethb exchange rate step 4 finally 
that's the reserve that sends you your bat   in a second scenario imagine that you are 
trading b.a.t for die in this example because   you are not directly trading an eth there 
are additional steps that you'll require   since the eth token is the core asset let's 
call it trade 2 and this is how it would go   step 1 send your bat to the kyber network 
smart contract step 2 the contract will   then query all of its reserves to get the 
most favorable bat to eth rate of exchange   step 3 the contract will send the bat to the 
reserve that has the best bat to eth rate   step 4 that is the reserve that 
will send eth to the contract   step 5 the contract will then query each of its 
reserves to get the most favorable eth to dai rate   step 6 the contract will send the eth tokens to 
the reserve that has the most favorable eth to dai   rate step 7 finally that is the reserve that will 
then send you your die even if the second trade   involves more steps both trades are done 
in a singular blockchain transaction   similarly with kyber network each trade 
is instantly completed on the blockchain   exchange rates that reserves offer are all 
publicly verifiable if need be query the smart   contracts for verification kyber dao and knc token 
holders can participate in the administration of   kyber network via kyber dao they can vote by 
staking their tokens on the network's fee model   kyber network coin supply will diminish over 
time meaning it is a deflationary staking token   it is only an erc20 token as of publishing this 
video but kyber network envisions its future   implementation on other blockchains management 
of its supply will be as if it is a single token   kyber network is creating technologies that will 
facilitate knc token transfer across blockchains   how to buy kyber network coins one open an online 
account to buy kyber network crystals or knc   coins create an account with a crypto bureau 
or brokerage supporting knc hobie and binance   are renowned exchanges supporting knc to connect 
your bank account ensure to give the exchange all   kyc or identity verification information they ask 
for to sign up provide your legal name email phone   number address social security number and photo 
id with these you'll get cryptocurrency brokerage   account but levels of verification depend on the 
specific exchange platform another option is to   use kyber swap which enables you to buy ethereum 
using a credit card then proceed to exchange your   eth for knc on kyber network on the kyber network 
you can exchange any token on the ethereum network   2.

Buy a wallet your knc coins need storage in 
a wallet even if you can store your crypto on   the exchange where you buy it from it is not 
advisable to do so due to security reasons   there are software wallets like metamask and 
argent which are a good choice for many people   this is because they're free and accessible 
for optimal security for your crypto you can   consider buying a hardware wallet these ones store 
crypto while offline they are not hackable 3. make   your purchase it's time to make your purchase to 
limit risk on your knc average your buy in price   what is averaging the buy in price it is when you 
buy different volumes of knc at different times   buying an entire position at once is not advisable 
it alleviates risks linked with short-term price   variations to invest in systematic purchases 
you can have coinbase execute recurring buys   you can place either a market order or a limit 
order a market order is a purchase made at the   current market position a limit order means 
setting a position in which unless the token's   price falls to that point the system will not 
make any purchase takeaway notes in conclusion   kyber is an ethereum based defy exchange 
it focuses on liquidity aggregation also   it facilitates instant crypto swaps for 
erc 20 tokens and ether kyber network's   integrated protocol provides an on-chain device 
solution to decentralized liquidity challenges   it also gives erc20 tokens an ecosystem-wide 
utility now you know what the kyber network is you   also know its integrations and roles in bringing 
liquidity to defy innovations and functionality   for more cryptocurrency descriptive videos like 
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of upcoming ones explore more of our videos for   information and defy apps guides wrapped bitcoin 
crypto taxes stable coins accepting bitcoin for   small businesses and much more see you in our 
cryptocurrency descriptive videos bye for now

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