Kyber Network (KNC)

$1.59143 (8.18%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
40 $311,176,000.00 $82,614,200.00 195,533,000 KNC -- 8.18% 4.16% -$130.18

Exchange Pair Volume (24h) Price
OKEx KNC/USDT 22,991,116.00 1.6140000000
Coinbase Pro KNC/USD 7,222,866.00 1.6143000000
Binance KNC/BTC 8,712,853.00 0.0001363500
Binance KNC/USDT 8,014,110.00 1.6120000000
OKEx KNC/BTC 7,353,037.00 0.0001363000
MXC KNC/USDT 782,377.00 1.6116000000
Upbit KNC/KRW 1,382,349.00 1,900.0000000000
Coinbase Pro KNC/BTC 1,048,883.00 0.0001364700
Bilaxy KNC/BTC 2,413,313.00 0.0001361200
MXC KNC/ETH 247,300.00 0.0040530000
Bithumb KNC/KRW 1,029,426.00 1,900.0000000000
BW.com KNC/USDT 1,432,007.00 1.6136000000
Binance KNC/ETH 603,377.00 0.0040708000
FTX KNC/USD 60,822.00 1.6116000000
Hotbit KNC/USDT 52,934.00 1.6111220000
Binance KNC/BUSD 168,049.00 1.6120000000
Kraken KNC/EUR 204,098.00 1.3694000000
AEX KNC/USDT 190,984.00 1.6100000000
Binance US KNC/USD 160,302.00 1.6130000000
Coinone KNC/KRW 24,427.00 1,897.0000000000
BiKi KNC/USDT 273,754.00 1.6130000000
Kraken KNC/XBT 96,179.00 0.0001365300
Binance US KNC/USDT 51,895.00 1.6070000000
Uniswap (v2) 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 206,541.00 0.0040409828
Bitkub KNC/THB 106,130.00 50.0000000000
Kraken KNC/USD 97,011.00 1.6105000000
P2PB2B KNC/BTC 456,214.00 0.0001363500
AAX KNC/BTC 252,173.00 0.0001366000
Hotbit KNC/BTC 59,876.00 0.0001359500
Hotbit KNC/ETH 46,627.00 0.0040673500
Gate.io KNC/USDT 44,182.00 1.6072000000
Kraken KNC/ETH 9,281.23 0.0040780000
KuCoin KNC/BTC 80,031.00 0.0001361000
KuCoin KNC/ETH 15,688.29 0.0040615000
Bamboo Relay KNC/WETH 1,581.29 0.0040657383
P2PB2B KNC/ETH 32,863.00 0.0040600000
ProBit KNC/KRW 24,006.00 1,901.4000000000
ProBit KNC/USDT 25,318.00 1.6138000000
Vinex KNC/BTC 9,118.89 0.0001360100
Atomars KNC/BTC 42,231.00 0.0001365000
Vinex KNC/ETH 13,333.21 0.0040634300
Poloniex KNC/BTC 6,973.45 0.0001361300
Atomars KNC/ETH 3,109.92 0.0040644100
BitAsset KNC/USDT 3,622,711.00 1.6143000000
Huobi Global KNC/USDT 1,388,230.00 1.6128000000
OKEx Korea KNC/BTC 863.85 0.0001363000
Huobi Global KNC/BTC 647,316.00 0.0001363600
HitBTC KNC/BTC 25,089.00 0.0001359160
Huobi Global KNC/ETH 174,626.00 0.0040663200
BKEX KNC/USDT 25,847.00 1.6072000000
Hoo.com KNC/USDT 574,110.00 1.6113800000
TOKOK KNC/USDT 340,634.00 1.6140000000
Hanbitco KNC/BTC 536,050.00 0.0001360000
BiKi KNC/ETH 710.59 0.0040622000
CoinEx KNC/USDT 101,585.00 1.6057000000
CoinEx KNC/ETH 75,545.00 0.0040800400
Bitfinex KNC/USD 2,097.86 1.6040000000
DragonEx KNC/USDT 8,898,547.00 1.6114000000
Bitrue KNC/ETH 18,587.75 0.0040600000
CoinEx KNC/BTC 155,505.00 0.0001359200
Bitrue KNC/XRP 5,377,086.00 5.2510000000
CryTrEx KNC/USDT 1,384,995.00 1.6150000000
Kyber Network KNC/ETH 405,500.00 0.0040976527
1inch 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 89,783.00 0.0039050000
Bancor Network KNC/BNT 60,510.00 0.6506605869
WhaleEx KNC/USDT 50,955.00 1.6254800000
0x Protocol KNC/USD 32,865.00 1.6075116143
Huobi Korea KNC/BTC 91.99 0.0001363600
Mercatox KNC/BTC 31,457.00 0.0001427900
FTX KNC/USDT 7,780.32 1.5842000000
Gate.io KNC/ETH 739.86 0.0040160000
Mercatox KNC/ETH 40,209.00 0.0035612700
Livecoin KNC/BTC 341.62 0.0001327100
Balancer 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 30,759.00 0.0041435054
NiceHash KNC/BTC 24.56 0.0001300000
OKEx Korea KNC/USDT 52.62 1.5633000000
GoPax KNC/KRW 469.26 1,909.0000000000
GoPax KNC/BTC 29.18 0.0001409100
ZB KNC/QC 26,269.00 11.3995000000
Livecoin KNC/ETH 11.87 0.0038309000
HitBTC KNC/USD 24.17 1.5904000000
Tokenlon IMBTC/KNC 51,194.00 7,373.0000170000
Tokenlon KNC/USDT 40,416.00 1.3973835500
Tokenlon KNC/ETH 10,045.66 0.0039014400
Huobi Korea KNC/ETH 110.11 0.0038330100
Bitfinex KNC/BTC 2,659.80 0.0001364500
Switcheo KNC/ETH 69.68 0.0040900000
XT KNC/SXC 31.87 10.0116000000
XT KNC/USDT 46.08 1.4315000000
Bitsonic KNC/BSC 146.82 37.4320000000
HitBTC KNC/ETH 736.54 0.0040872500
Idex KNC/ETH 1,425.71 0.0036000000
EXX KNC/USDT 40.81 9.9900000000
Uniswap (v1) KNC/ETH 2,580.87 0.0040982596
Eterbase KNC/EUR 0.00 0.0000000000

Links


Background

Kyber Network is building an Ethereum based platform to address the growing market for decentralized token exchanges. The project proposes a solution for instant on-chain transfers between ERC20 tokens, fully based on smart contracts. Plans include support for non-ERC20 tokens though these are highly dependent on the creation of scalable solutions for cross-blockchain compatibility technologies like atomic swaps. Potential solutions include PolkaDot or cosmos as well as ERC20 based implementations on networks like RSK. Decentralized exchanges have become a popular alternative to centralized exchanges, which can lack transparency or are subject to hacks, like those seen on Mt.Gox, Bitfinex, and CoinCheck. Despite interest in the idea, decentralized exchanges are often subject to drawbacks like limited liquidity, the ability to potentially front-run orders, and transaction fees related to canceling or adjusting orders that can reduce the incentive to adjust bid prices frequently. The team believes they can solve these issues by creating an automated on chain solution that directly exchanges tokens between two parties. Instead of using an orderbook the network uses liquidity pools (reserves) run by competing reserve managers. Managers are responsible for setting bid/ask prices for various token pairs and maintaining a certain amount of liquidity in the trading pairs offered. When a user sends tokens to the core KyberNetwork smart contract the transaction is immediately executed based on the best price offered by the reserve managers. By immediately executing transactions the project aims to eliminate the ability to front run trades, and by using the best offered spread on transactions, hopes to incentivize reserve managers to offer competitive spreads. Reserve managers should likewise be prompted to make markets in low liquidity tokens where they can take larger spreads. The project launched a pilot of the main network on Feb. 11, 2018, with plans to expand access as pilot progresses. Initially, KyberNetwork will act as a reserve manager using 100,000 of the 200,000 ether (ETH) received during the token sale before opening the network to third-parties. Reserve managers will be expected to comply with know your customer (KYC) and anti-money laundering (AML) rules.

Technology

The network relies on the core Kyber Network smart contract that accepts user tokens for exchange and sends corresponding tokens directly to the user from a reserve account. Users on the network are expected to be individuals, other decentralized applications, and merchants that want to accept a variety of payment options while receiving only a single type. When users send a token for conversion they receive the corresponding token within the same transaction removing the need for deposits or an orderbook. In order to function properly, there must be enough liquidity in various token pairs. Reserve managers attempt to provide this by holding various tokens for exchange and rebalancing their holdings if the balance of a specific token becomes too low. Reserve managers decide on and provide continuously updated exchange rates to the core smart contract. Third-party contributors are expected to provide capital to reserve pools in exchange for a share of the fees, which is the bid/ask spread, collected on transactions. Reserve managers will be able to decide if they wish to operate as a private entity or allow third-party contributors. Tools to track prices and volumes across the network have been created to help manage reserve portfolios. Initial governance, including listing token pairs and permissioned reserve managers, will be handled directly by the project. Over time the team plans to create a network of “operators” that will handle governance in a more decentralized manner. Reserve pools that wish to participate in the exchange market are required to stake an amount of Kyber Network Crystal (KNC) tokens in a smart contract and meet specific liquidity requirements defined by the network. In each trade a small amount of KNC will be transferred from the staked amount, acting as a fee for reserves that use the network. These tokens will be used to compensate partners for services they provide on the network, such as wallets that directed trades to the network. Because fees will be calculated based on trades in different tokens the smart contract will use the prevailing KNC conversion rate when collecting tokens from reserve managers. In the case that this conversion leads to more KNC being collected than needed to compensate partners the remaining tokens will be burned by the network.



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