Kyber Network (KNC)

$2.55944 (-14.69%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
115 $524,800,000.00 $71,704,900.00 205,045,000 KNC -- -14.69% 8.4% $375.98

Exchange Pair Volume (24h) Price
Decoin KNC/BTC 192,246.00 0.0000357200
BKEX KNC/USDT 875,639.00 1.3909000000
Coinbase Exchange KNC/USD 2,526,535.00 1.3991000000
Upbit KNC/KRW 6,676,894.00 1,615.0000000000
FTX KNC/USD 20,672.00 1.3947000000
Crypto.com Exchange KNC/USDT 98,919.00 1.3932000000
Decoin KNC/USDT 188,374.00 1.3960000000
Coinsbit KNC/USDT 47,918.00 1.4010000000
OKEx KNC/USDT 4,561,634.00 1.3984000000
Coinsbit KNC/BTC 12,719.31 0.0000356900
Binance US KNC/USD 252,890.00 1.3990000000
Coinbase Exchange KNC/BTC 113,533.00 0.0000355800
Digifinex KNC/USDT 1,626,029.00 1.3910000000
Huobi Global KNC/USDT 620,576.00 1.3966000000
OKEx KNC/BTC 747,640.00 0.0000357000
GokuMarket KNC/BTC 2,721,287.00 0.0000356000
Binance US KNC/USDT 51,560.00 1.3930000000
AEX KNC/USDT 156,931.00 1.3920000000
Bilaxy KNC/BTC 194,937.00 0.0000358500
Kraken KNC/USD 87,352.00 1.3867000000
CoinTiger KNC/USDT 24,336.00 1.4010000000
Kraken KNC/EUR 95,018.00 1.1759000000
HitBTC KNC/BTC 5,113.82 0.0000356210
Bitrue KNC/XRP 17,676.73 2.1850000000
IDCM KNC/USDT 1,156,360.00 1.3981000000
WhiteBIT KNC/USDT 206,286.00 1.3979000000
Bitkub KNC/THB 37,953.00 45.3500000000
Huobi Global KNC/BTC 59,285.00 0.0000356600
Kraken KNC/ETH 4,401.94 0.0006140000
Bitrue KNC/ETH 5,577.98 0.0006116000
XT.COM KNC/USDT 199,711.00 1.3951000000
Gemini KNC/USD 92,731.00 1.3811300000
Uniswap (v2) 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 133,760.00 0.0006191846
HitBTC KNC/USDT 52,642.00 1.3982890000
XT.COM KNC/SXC 1,483,426.00 9.0856000000
CEX.IO KNC/USD 94,115.00 1.3958000000
Hoo.com KNC/USDT 533,324.00 1.3985700000
Emirex KNC/USDT 29,233.00 1.3990000000
BitZ KNC/USDT 1,299,561.00 1.3980000000
Poloniex KNC/BTC 1,632.08 0.0000356400
Hanbitco KNC/BTC 1,349,096.00 0.0000356300
Huobi Global KNC/ETH 12,317.87 0.0006101500
HitBTC KNC/ETH 14,751.34 0.0006140500
Emirex KNC/BTC 5,335.66 0.0000368300
Virgox KNC/ETH 225,782.00 0.0006126000
P2PB2B KNC/ETH 24,106.00 0.0006136000
Bittrex KNC/USDT 1,358.38 1.4057500000
CoinEx KNC/USDT 12,033.21 1.3952000000
Crypto.com Exchange KNC/CRO 30,822.00 11.5690000000
Coinone KNC/KRW 5,394.93 1,640.0000000000
Vindax KNC/BTC 77,340.00 0.0000362300
Huobi Global KNC/HUSD 7,952.41 1.3971000000
ProBit KNC/USDT 30,474.00 1.3929000000
Bancor Network KNCL/BNT 320.46 0.4367749716
Bittrex KNC/BTC 6,117.11 0.0000362500
Coinzoom KNC/USD 133.23 1.3922000000
Dove Wallet KNC/ETH 347.21 0.0006168500
Dove Wallet KNC/KRW 500.35 1,624.0500000000
Dove Wallet KNC/USDT 354.84 1.3898100000
Dove Wallet KNC/USDC 11.02 1.4033100000
Dove Wallet KNC/PAX 12.89 1.4024000000
Coinsbit KNC/ETH 3,285.46 0.0006108000
DragonEx KNC/USDT 3,932,168.00 1.4063000000
NiceHash KNC/BTC 133.16 0.0000359700
BHEX KNC/USDT 593,312.00 1.4053000000
Dove Wallet KNC/BTC 354.24 0.0000365000
Dove Wallet KNC/GBP 2.46 0.9881000000
P2PB2B KNC/BTC 73,231.00 0.0000356800
Tokenomy KNC/IDK 5,460.94 20.1631640600
Dove Wallet KNC/TUSD 1.63 1.4017800000
Bittrex KNC/USD 3,135.00 1.4020600000
Hotbit KNC/USDT 40,165.00 1.3978490000
Hotbit KNC/BTC 39,627.00 0.0000355400
Hotbit KNC/ETH 39,910.00 0.0006170100
TOKOK KNC/USDT 243,255.00 1.4010000000
CoinEx KNC/BTC 3,231.31 0.0000357500
Dove Wallet KNC/EUR 119.61 1.2071100000
Kraken KNC/XBT 27,462.00 0.0000356600
Kyber Network KNC/ETH 485.24 0.0006185050
Huobi Korea KNC/BTC 12.57 0.0000356600
Bittrex KNC/ETH 1,646.72 0.0006273700
FTX KNC/USDT 8,155.70 1.4310000000
Mercatox KNC/ETH 245,509.00 0.0009477700
Bittrex KNC/EUR 2,577.21 1.2117800000
Vindax KNC/ETH 103.23 0.0006284000
Bitfinex KNC/USD 9,662.39 1.4425000000
Bitfinex KNC/BTC 6,520.05 0.0000367100
CEX.IO KNC/USDT 2,202.88 1.4303000000
Mercatox KNC/BTC 20,534.00 0.0000523500
DMM 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 0.00 0.0000000000
DeFi Swap 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 3.88 0.0006431158
Tokenlon KNC/USDT 8,008.21 1.3238503640
1inch 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 3,182.64 0.0006104982
MEXC Global KNC/USDT 561,576.00 1.4045000000
GoPax KNC/KRW 1,218.22 1,611.0000000000
Mooniswap 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 265.72 0.0006308471
Balancer (v1) 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 70.16 0.0006477740
Kyber Network KNCL/ETH 161.30 0.0006389576

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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