Kyber Network (KNC)
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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.
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.
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/Swap.tech) in these 6 categories.
Trading Costs, Trustless, Instant Trades, On-Chain, Liquidity, and Secure against attacks.
Q2/18– Supports trading between arbitrary token pairs.
Q3/18-Supports the trading of advanced financial instruments.
Early 2019– Supports cross-chain trading.
INITIAL COIN OFFERING (ICO)
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%).
Creators / Founders
CEO and co-founder
• Co-founder of SmartPool
• Received a Ph.D. in computer science from National University of Singapore
CTO and co-founder
• Technical leader at EZchip semi-conductors
• Received a Ph.D. in computer science from Tel Aviv University
Lead engineer and co-founder
• Lead engineer at SmartPool
Core Development Team
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
Blockchain Partners Korea
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At Trade Crypto Live we are following and trading KNC where appropriate.
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