Kyber Network (KNC)

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Name Price Supply Volume Market Cap
Kyber Network
167.41M KNC


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Proof of Work (PoW) & Proof of Stake (PoS)
KNC is a decentralized exchange with instant on-chain execution of transactions.
Instead of relying on an orderbook model the project uses a smart contract infrastructure to select the best price from competing liquidity pools automatically. Transactions are intended to occur instantly and without needing to provide a deposit or broadcast intended buy or sell orders.
Anyone who instant exchange and conversion of digital assets and cryptocurrencies.
0x (ZRX),Bitshares (BTS), IDEX



Whitepaper Summary
Detail in the whitepaper on how Reserve Managers and the investors in KNC’s reserves work, how the managers need to acquire their tokens and how the actual Token works within the ecosystem was vague.
Problem Solved
The majority of decentralized exchanges are often subject to drawbacks such as limited liquidity, the ability to potentially front-run orders, and transaction fees related to cancelling or adjusting orders that can reduce the incentive to adjust bid prices frequently.

KNC 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.

Competitive Edge
Guaranteed Liquidity: Kyber Network aspires to guarantee liquidity and offer instantaneous on-chain conversions by leveraging independently-managed reserve pools. This means that unlike centralized exchanges, Kyber Network does not hold consumer funds in escrow nor keep a global order-book.

Instant Trade: There’s no waiting for confirmation and no deposit required. You can instantly get your tokens once your transaction is included in the blockchain.

KyberNetwork matches or exceed it competitors (Kraken/Poloniex/Shapeshift/Coinbase/EtherDelta/OxProject/Oasis Index/ in these 6 categories.

Trading Costs, Trustless, Instant Trades, On-Chain, Liquidity, and Secure against attacks.

Development Roadmap
Q1/18– Main net launches and will support the trading between ETH and tokens.

Q2/18– Supports trading between arbitrary token pairs.

Q3/18-Supports the trading of advanced financial instruments.

Early 2019– Supports cross-chain trading.


KyberNetwork raised 200,000 ether (ETH), worth approximately $50 million at the time, during a two day token sale in Sept. 2017. This was the hard cap for the sale and resulted in the creation of 226 million KNC tokens. A total of 138.0 million tokens, representing 61.1% of total supply, were distributed to 21,309 individual addresses during the public sale. In order to participate users were required to completed KYC verification. Each participant was limited to a maximum contribution of 3.6 ETH on the first day while the second day had no contribution limit.
The project treasury received 44.0 million tokens, or 19.5% of total supply, as did a group of founders, advisors, and seed investors.

Tokens allocated to this second group are subject to a two year vesting
period with a one year lockup.

Half of the total amount raised in the sale (100,000 ETH) was set aside to serve as an early liquidity pool on the network. The remaining ETH was allocated to operations (10%), legal (10%), and development (30%).

$50 Million USD
September 2017


Creators / Founders

Loi Luu
CEO and co-founder
• Co-founder of SmartPool
• Received a Ph.D. in computer science from National University of Singapore

Yaron Velmer
CTO and co-founder
• Technical leader at EZchip semi-conductors
• Received a Ph.D. in computer science from Tel Aviv University

Victor Tran
Lead engineer and co-founder
• Lead engineer at SmartPool

Core Development Team


Notable Advisors

Wong Lee Hong Previously SVP at United Overseas Bank Ltd. Vitalik Buterin Founder of Ethereum

Leng Hoe Lon Co-founder of Shentilium

Chionh Chye Kit Co-founder and managing director at Cynopsis Solutions

Notable Investors
HyperChain Capital
Danhua Capital
Fenbushi Capital
Blockchain Partners Korea
Kenetic Capital
Signum Capital

Trade Crypto Live Sentiment

Kyber Network is an interesting protocol that brings speed, security, and liquidity to the cryptocurrency exchange process. A concern is with their reserve system which appears to be very capital intensive. Guaranteeing liquidity for every token out there requires reserve managers to hold an amount of random illiquid tokens and that in itself can tie up a lot of capital.

At Trade Crypto Live we are following and trading KNC where appropriate.

Reference & Links