Kyber Network (KNC)

$1.35986 (10.85%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
85 $273,725,000.00 $103,477,000.00 201,288,000 KNC -- 10.85% -4.74% -$147.54

Exchange Pair Volume (24h) Price
Decoin KNC/BTC 258,477.00 0.0000421200
FTX KNC/USD 40,454.00 1.3601000000
Bithumb KNC/KRW 26,792,383.00 1,500.0000000000
Coinbase Pro KNC/USD 4,296,992.00 1.3578000000
Binance KNC/USDT 7,342,376.00 1.3540000000
Binance KNC/BTC 3,542,532.00 0.0000420700
Decoin KNC/USDT 263,651.00 1.3550000000
HitBTC KNC/BTC 98,811.00 0.0000420050
Coinsbit KNC/BTC 135,475.00 0.0000421300
Crypto.com KNC/USDT 71,488.00 1.3630000000
Upbit KNC/KRW 7,858,129.00 1,505.0000000000
Coinsbit KNC/ETH 40,475.00 0.0010810000
BKEX KNC/USDT 2,642,949.00 1.3540000000
Coinbase Pro KNC/BTC 521,670.00 0.0000420500
MXC KNC/USDT 1,573,606.00 1.3541000000
Hotbit KNC/USDT 25,283.00 1.3550770000
OKEx KNC/USDT 6,237,832.00 1.3560000000
Gemini KNC/USD 304,149.00 1.3563400000
HitBTC KNC/USD 12,652.89 1.3536120000
Huobi Global KNC/USDT 996,994.00 1.3544000000
Vindax KNC/BTC 2,658,421.00 0.0000421400
Huobi Global KNC/BTC 532,637.00 0.0000420800
OKEx Korea KNC/USDT 1,224.90 1.3550000000
Hotbit KNC/BTC 24,854.00 0.0000420000
OKEx KNC/BTC 3,433,555.00 0.0000421000
Coinsbit KNC/USDT 240,977.00 1.3550000000
Bilaxy KNC/BTC 1,992,402.00 0.0000419900
Kraken KNC/USD 289,303.00 1.3586000000
Kraken KNC/EUR 171,481.00 1.1169000000
CoinTiger KNC/USDT 19,109.57 1.3510000000
BiKi KNC/USDT 112,230.00 1.3550000000
Binance KNC/ETH 337,153.00 0.0010817000
Vindax KNC/ETH 1,985,294.00 0.0010856000
Bitrue KNC/ETH 7,000.44 0.0010817000
AAX KNC/BTC 583,181.00 0.0000420000
Bitrue KNC/XRP 123,727.00 4.9770000000
AEX KNC/USDT 179,530.00 1.3570000000
Kraken KNC/XBT 44,211.00 0.0000421400
Hotbit KNC/ETH 25,024.00 0.0010855400
Balancer 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 48,260.00 0.0010741047
Bitfinex KNC/USD 3,433.93 1.3545000000
Binance KNC/BUSD 335,874.00 1.3520000000
Kraken KNC/ETH 16,008.22 0.0010790000
WhiteBIT KNC/USDT 328,646.00 1.3552000000
KuCoin KNC/BTC 79,072.00 0.0000419800
Digifinex KNC/USDT 427,544.00 1.3548000000
XT KNC/USDT 1,384,645.00 1.3554000000
Huobi Global KNC/ETH 114,604.00 0.0010870700
Crypto.com KNC/CRO 2,297.20 19.0570000000
Binance US KNC/USD 121,958.00 1.3550000000
KuCoin KNC/ETH 15,983.70 0.0010802000
Virgox KNC/ETH 107,291.00 0.0010820000
Emirex KNC/USDT 46,294.00 1.3550000000
XT KNC/SXC 371,134.00 8.7709000000
Gate.io KNC/USDT 60,067.00 1.3499000000
Emirex KNC/BTC 22,014.00 0.0000419800
Binance US KNC/USDT 24,476.00 1.3560000000
Hoo.com KNC/USDT 197,886.00 1.3518400000
WhiteBIT KNC/UAH 59,122.00 38.2000000000
CoinEx KNC/USDT 37,735.00 1.3530000000
Huobi Global KNC/HUSD 40,808.00 1.3521000000
Bittrex KNC/BTC 8,061.91 0.0000420500
GokuMarket KNC/BTC 280,176.00 0.0000420200
Atomars KNC/USDT 38,593.00 1.3530000000
Atomars KNC/BTC 22,517.00 0.0000422100
Coinone KNC/KRW 33,764.00 1,503.5000000000
HitBTC KNC/ETH 6,275.13 0.0010814100
P2PB2B KNC/ETH 8,664.22 0.0010871000
Gate.io KNC/ETH 6,872.69 0.0010890000
ProBit KNC/KRW 29,092.00 1,496.9000000000
ProBit KNC/USDT 28,254.00 1.3541000000
Vinex KNC/ETH 48,677.00 0.0010807300
P2PB2B KNC/BTC 7,914.74 0.0000420900
FTX KNC/USDT 17,051.57 1.3622000000
IDCM KNC/USDT 5,748,565.00 1.3565000000
HBTC KNC/USDT 4,869,884.00 1.3480000000
Bitfinex KNC/BTC 6,319.96 0.0000421700
NiceHash KNC/BTC 433.97 0.0000425100
Bvnex KNC/USDT 749,629.00 1.3558600000
BitAsset KNC/USDT 245,997.00 1.3508000000
CoinEx KNC/ETH 29,063.00 0.0010855400
Aprobit KNC/KRW 21,065.00 1,500.0000000000
BitZ KNC/USDT 5,765,962.00 1.3526000000
DragonEx KNC/USDT 5,862,169.00 1.3420000000
TOKOK KNC/USDT 286,454.00 1.3550000000
CoinEx KNC/BTC 38,530.00 0.0000419700
Mooniswap 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 489.78 0.0010810768
WhaleEx KNC/USDT 892,840.00 1.3559000000
Kyber Network KNC/ETH 324,401.00 0.0010832979
1inch 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 287,217.00 0.0010796116
ZG.com KNC/USDT 88,889.00 1.3440000000
Huobi Korea KNC/BTC 2,400.07 0.0000421100
Bitkub KNC/THB 85,153.00 41.7000000000
WhiteBIT KNC/RUB 42,377.00 103.4400000000
Bittrex KNC/USDT 1,047.49 1.3412500000
Uniswap (v2) 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 256,448.00 0.0010746855
GoPax KNC/KRW 8,269.77 1,483.0000000000
Bittrex KNC/ETH 240.39 0.0010960100
CEX.IO KNC/USD 3,161.22 1.4182000000
Mercatox KNC/ETH 119,689.00 0.0008017200

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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