Kyber Network (KNC)

$0.167414 (9.04%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
124 $28,102,800.00 $4,949,030.00 167,865,000 KNC 112 9.04% 6.96% -$15.13

Exchange Pair Volume (24h) Price
Binance KNC/BTC 969,191.00 0.0000165900
Binance KNC/ETH 244,140.00 0.0009096000
Korbit KNC/KRW 644.90 204.8000000000
Poloniex KNC/BTC 9,778.15 0.0000166900
Gate.io KNC/USDT 17,272.79 0.1693000000
Gate.io KNC/ETH 763.97 0.0008930000
MXC KNC/ETH 599,394.00 0.0009089000
Bkex KNC/USDT 389,336.00 0.1526000000
Huobi Korea KNC/BTC 1,532.58 0.0000165900
Upbit KNC/KRW 242,196.00 203.0000000000
OKEx KNC/USDT 161,362.00 0.1681000000
OKEx KNC/BTC 121,103.00 0.0000166000
BitAsset KNC/USDT 219,442.00 0.1690000000
Huobi Global KNC/BTC 153,859.00 0.0000166200
Bitrue KNC/BTC 27,349.00 0.0000166500
Bitrue KNC/XRP 63,383.00 0.6340000000
Bitrue KNC/ETH 4,025.60 0.0009070000
Huobi Korea KNC/ETH 26.42 0.0009048100
Huobi Global KNC/ETH 24,618.00 0.0009062400
P2PB2B KNC/BTC 32,556.00 0.0000161900
KuCoin KNC/BTC 11,872.57 0.0000168400
Switcheo KNC/ETH 140.18 0.0008900000
HitBTC KNC/BTC 148.88 0.0000168800
HitBTC KNC/ETH 16.96 0.0008758900
AEX KNC/USDT 2,825,305.00 0.1660000000
BW.com KNC/USDT 388,307.00 0.1641000000
BW.com KNC/QC 335,817.00 1.1731000000
XT KNC/USDT 119,562.00 0.1618000000
XT KNC/SXC 109,904.00 1.1491000000
P2PB2B KNC/USD 43,918.00 0.1690740900
ZB KNC/QC 5,439.30 1.1001000000
P2PB2B KNC/ETH 1.12 0.0008188800
HitBTC KNC/USD 0.79 0.1638560000
Coineal KNC/BTC 593,897.00 0.0000166200
Vindax KNC/ETH 248,547.00 0.0009433000
Vindax KNC/BTC 257,281.00 0.0000165800
Coineal KNC/ETH 196,477.00 0.0009073000
ABCC KNC/BTC 1,379,597.00 0.0000166700
ABCC KNC/ETH 71,298.00 0.0009193700
Kyber Network KNC/ETH 53,020.00 0.0009140199
Purcow KNC/ETH 23,672.00 0.0009063000
Livecoin KNC/BTC 289.85 0.0000171100
ForkDelta KNC/ETH 33.54 0.0009090000
Mercatox KNC/BTC 12,038.15 0.0000169400
Mercatox KNC/ETH 6,899.29 0.0009206400
Neraex KNC/BTC 1,736.93 0.0000165900
Bancor Network KNC/BNT 12,905.57 0.4490921157
Uniswap KNC/ETH 2,748.75 0.0009129814
Bithumb KNC/KRW 68,296.00 205.0000000000
Coinplace KNC/BTC 13,577.14 0.0000313900
Ethfinex KNC/BTC 158.65 0.0000160300
Ethfinex KNC/ETH 69.50 0.0008476400
KuCoin KNC/ETH 2,398.91 0.0009119000
Poloniex KNC/ETH 260.10 0.0008201800
Bitkub KNC/THB 7.44 4.9400000000
Coinone KNC/KRW 4,051.88 208.0000000000
GoPax KNC/KRW 7.97 154.1000000000
CPDAX KNC/BTC 31.45 0.0000133200
Tidex KNC/BTC 9.11 0.0000159400
Ethfinex KNC/USD 3.84 0.1630000000
CoinExchange.io KNC/BTC 2.60 0.0000150000
ZB KNC/USDT 2.56 0.1604000000
AirSwap KNC/ETH 2.53 0.0007555700
Poloniex KNC/USDT 0.00 0.1778698800
CoinExchange.io KNC/ETH 0.00 0.0008000000
Livecoin KNC/ETH 0.00 0.0000000000
CredoEx KNC/CREDO 0.03 43.0500008000

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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