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August 2019 - Top Cryptocurrency Projects to Invest In

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Kyber Network (KNC)

$0.289545 (8.96%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
83 $50,296,700.00 $5,457,610.00 173,709,000 KNC 174 8.96% 5.87% -$25.94

Exchange Pair Volume (24h) Price
Binance KNC/BTC 340,914.00 0.0000329700
Upbit KNC/KRW 280,277.00 297.0000000000
Bithumb KNC/KRW 130,030.00 331.9000000000
Binance KNC/ETH 58,079.00 0.0016940000
Coinone KNC/KRW 205,041.00 333.0000000000
Vinex KNC/BTC 13,528.74 0.0000329900
KuCoin KNC/BTC 11,326.93 0.0000327800
Vinex KNC/ETH 10,641.11 0.0017033200
Bitkub KNC/THB 1,199.75 8.7900000000
KuCoin KNC/ETH 228.03 0.0017067000
Poloniex KNC/BTC 761.02 0.0000336000
MXC KNC/ETH 1,469,340.00 0.0017052000
XT KNC/USDT 605,580.00 0.2934000000
OKEx KNC/USDT 422,531.00 0.2903000000
BKEX KNC/USDT 519,256.00 0.2734000000
Tokenize KNC/BTC 2,828.66 0.0000329000
OKEx KNC/BTC 274,903.00 0.0000330000
XT KNC/SXC 347,197.00 2.0173000000
AEX KNC/USDT 331,111.00 0.2880000000
Bitrue KNC/XRP 19,710.01 1.2510000000
OKEx Korea KNC/BTC 12.67 0.0000330000
Tokenize KNC/ETH 483.10 0.0017012000
BitAsset KNC/USDT 129,966.00 0.2898000000
Huobi Global KNC/BTC 25,991.00 0.0000329400
Bitrue KNC/BTC 11,835.81 0.0000330400
DragonEx KNC/USDT 100,028.00 0.2897000000
Bitrue KNC/ETH 1,051.85 0.0017035000
Hanbitco KNC/BTC 90,476.00 0.0000330000
Huobi Global KNC/ETH 4,778.70 0.0017020500
BW.com KNC/USDT 5,920.17 0.2892000000
Atomars KNC/BTC 783.13 0.0000330300
Atomars KNC/ETH 157.37 0.0016999900
Mercatox KNC/BTC 14,086.67 0.0000345100
Gate.io KNC/USDT 5,089.21 0.2857000000
Bitfinex KNC/ETH 71.86 0.0016973000
Livecoin KNC/BTC 244.04 0.0000330900
ZG.com KNC/ETH 8,959,823.00 0.0016797000
ZG.com KNC/BTC 5,454,289.00 0.0000326700
Vindax KNC/BTC 559,797.00 0.0000331000
Tidex KNC/BTC 1.80 0.0000290000
Vindax KNC/ETH 551,819.00 0.0017406000
P2PB2B KNC/BTC 14,055.99 0.0000329200
Mercatox KNC/ETH 6,496.53 0.0016496300
HitBTC KNC/USD 6.40 0.2977070000
ZB KNC/QC 2,970.03 1.9994000000
OKEx Korea KNC/KRW 529.74 328.0000000000
Kyber Network KNC/ETH 99,511.00 0.0017189047
Uniswap KNC/ETH 18,871.92 0.0017204540
Bancor Network KNC/BNT 2,784.54 1.1927237188
Huobi Korea KNC/BTC 1,886.43 0.0000330000
Huobi Korea KNC/ETH 576.02 0.0016963800
Switcheo KNC/ETH 40.85 0.0016820000
Bitfinex KNC/BTC 195.77 0.0000336100
OKEx Korea KNC/USDT 42.63 0.2851000000
Bitfinex KNC/USD 28.04 0.2804100000
Idex KNC/ETH 89.91 0.0017594720
Livecoin KNC/ETH 2.69 0.0015350000
Gate.io KNC/ETH 33.16 0.0016050000
GoPax KNC/KRW 105.08 340.0000000000
HitBTC KNC/ETH 10.34 0.0017413300
P2PB2B KNC/USD 5,683.87 0.2538715900
BiHODL KNC/USDT 1,014.75 0.2200000000
HitBTC KNC/BTC 16.20 0.0000307490
P2PB2B KNC/ETH 43.56 0.0013086600
CPDAX KNC/BTC 7.60 0.0000162700
Bancor Network KNC/USDB 5.80 0.2321957403
ForkDelta KNC/ETH 1.03 0.0012148266

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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