Kyber Network (KNC)

$0.930124 (1.49%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
69 $184,419,000.00 $19,430,600.00 198,273,000 KNC -- 1.49% 0.62% -$13.86

Exchange Pair Volume (24h) Price
Decoin KNC/BTC 18,302.87 0.0000708200
Coinbase Pro KNC/USD 657,770.00 0.9190000000
Binance KNC/USDT 739,345.00 0.9170000000
Coinsbit KNC/ETH 27,668.00 0.0022489000
Binance KNC/BTC 860,657.00 0.0000706700
Decoin KNC/USDT 64,221.00 0.9180000000
Upbit KNC/KRW 209,556.00 1,040.0000000000
Crypto.com KNC/USDT 23,948.00 0.9170000000
FTX KNC/USD 7,652.21 0.9170000000
MXC KNC/USDT 526,825.00 0.9180000000
FTX KNC/USDT 8,579.99 0.9156000000
Coinsbit KNC/BTC 91,606.00 0.0000706700
Huobi Global KNC/USDT 213,844.00 0.9174000000
Bithumb KNC/KRW 118,411.00 1,039.0000000000
Coinsbit KNC/USDT 160,337.00 0.9170000000
Hotbit KNC/USDT 48,698.00 0.9147700000
Coinbase Pro KNC/BTC 156,991.00 0.0000707500
CoinTiger KNC/USDT 22,234.00 0.9150000000
Huobi Global KNC/BTC 208,561.00 0.0000707300
Kraken KNC/USD 11,960.09 0.9142000000
Bilaxy KNC/BTC 1,436,563.00 0.0000706900
Binance KNC/ETH 40,409.00 0.0022594000
Gemini KNC/USD 4,080.11 0.9246400000
Kraken KNC/EUR 6,350.07 0.7804000000
Hotbit KNC/BTC 49,083.00 0.0000710800
AEX KNC/USDT 257,099.00 0.9210000000
Multi.io KNC/USDT 30.04 0.9240000000
Binance KNC/BUSD 28,408.00 0.9200000000
Huobi Global KNC/ETH 55,851.00 0.0022512000
Uniswap (v2) 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 172,397.00 0.0022656328
BiKi KNC/USDT 142,655.00 0.9190000000
AAX KNC/BTC 114,129.00 0.0000704000
Binance US KNC/USD 4,884.24 0.9210000000
Kraken KNC/XBT 6,850.19 0.0000716800
Binance US KNC/USDT 4,384.07 0.9160000000
Hotbit KNC/ETH 49,306.00 0.0022578700
WhiteBIT KNC/USDT 116,701.00 0.9177000000
Kraken KNC/ETH 1,591.54 0.0022590000
BW.com KNC/USDT 21,299.00 0.9160000000
Bitfinex KNC/USD 106.30 0.9263500000
Digifinex KNC/USDT 32,462.00 0.9136000000
Emirex KNC/BTC 6,888.77 0.0000710800
Bitkub KNC/THB 4,010.72 28.7000000000
Gate.io KNC/USDT 4,112.72 0.9216000000
WhiteBIT KNC/UAH 24,413.00 26.0300000000
Crypto.com KNC/CRO 4,225.08 9.1560000000
P2PB2B KNC/ETH 7,751.31 0.0022569000
P2PB2B KNC/BTC 54,150.00 0.0000708700
ProBit KNC/USDT 24,203.00 0.9169000000
ProBit KNC/KRW 25,019.00 1,033.8000000000
CoinEx KNC/USDT 18,600.93 0.9243000000
Vinex KNC/ETH 19,780.16 0.0022502900
Atomars KNC/USDT 3,507.00 0.9200000000
Atomars KNC/BTC 3,989.98 0.0000708700
Atomars KNC/ETH 261.55 0.0022602100
Tokenomy KNC/IDK 8,877.26 13.3964417500
Poloniex KNC/BTC 787.67 0.0000701800
Bitrue KNC/XRP 19,150.35 3.6340000000
HitBTC KNC/BTC 23,213.00 0.0000710040
HitBTC KNC/USD 17,743.78 0.9189430000
Bitrue KNC/ETH 168.58 0.0022489000
Virgox KNC/ETH 300,458.00 0.0022505000
Bvnex KNC/USDT 105,729.00 0.9224110000
BKEX KNC/USDT 4,199.65 0.9216000000
Hoo.com KNC/USDT 235,258.00 0.9188900000
TOKOK KNC/USDT 331,803.00 0.9160000000
Bitfinex KNC/BTC 535.91 0.0000713400
HBTC KNC/USDT 309,791.00 0.9120000000
XT KNC/SXC 59,884.00 6.0545000000
XT KNC/USDT 93,042.00 0.9186000000
GokuMarket KNC/BTC 110,787.00 0.0000709200
CoinEx KNC/ETH 16,071.74 0.0022518000
OKEx KNC/USDT 458,844.00 0.9160000000
OKEx KNC/BTC 502,066.00 0.0000705000
BitAsset KNC/USDT 3,639,219.00 0.9163000000
BitZ KNC/USDT 2,238,579.00 0.9181000000
DragonEx KNC/USDT 3,213,934.00 0.9239000000
Aprobit KNC/KRW 28,937.00 1,045.0000000000
CoinEx KNC/BTC 23,286.00 0.0000711200
Emirex KNC/USDT 12,144.74 0.9250000000
1inch 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 63,982.00 0.0022473231
Huobi Korea KNC/BTC 9.23 0.0000710700
WhiteBIT KNC/RUB 25,552.00 71.5000000000
IDCM KNC/USDT 442,966.00 0.8857000000
KuCoin KNC/BTC 4,150.56 0.0000676700
Mercatox KNC/BTC 25,460.00 0.0000826400
Mercatox KNC/ETH 46,056.00 0.0041109900
KuCoin KNC/ETH 774.84 0.0021315000
HitBTC KNC/ETH 2,030.67 0.0023287500
Livecoin KNC/BTC 306.40 0.0000724900
NiceHash KNC/BTC 0.94 0.0000725000
OKEx Korea KNC/USDT 1,496.86 0.8940000000
Balancer 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 9,898.78 0.0022691741
Bamboo Relay KNC/WETH 3,974.07 0.0022621172
Mooniswap 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/ETH 1,061.50 0.0022699936
Ethfinex KNC/BTC 2,592.52 0.0000802600
Balancer 0XDD974D5C2E2928DEA5F71B9825B8B646686BD200/DAI 40.96 0.9410124505
GoPax KNC/KRW 816.01 1,053.0000000000
ZB KNC/QC 53.18 6.0200000000
Coinone KNC/KRW 7.47 1,053.0000000000

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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