Kyber Network up 29% ahead of ETH staking rewards launch

Kyber Network

The decentralized finance (DeFi) boom shows no sign of slowing, with Kyber Network (KNC) recording 29% growth leading into Thursday, July 2. The renewed surge by the Ethereum-based token comes just days ahead of the next major upgrade for Kyber Network—dubbed Katalyst.

The Katalyst upgrade, scheduled for July 7, promises to bring a host of technical improvements to the decentralized liquidity protocol, and will also introduce the KyberDAO (decentralized autonomous organization).

This will enable KNC holders to stake their tokens and vote on governance proposals, while receiving Ethereum (ETH) payouts in return, according to an official Kyber blog post.

What is Kyber Network?

Kyber Network began development in 2017 as a decentralized liquidity protocol built for the Ethereum blockchain. By holding ERC20 tokens in reserve in special smart contracts, Kyber enables users to trade any Ethereum token quickly, without the need for a centralized exchange. Read More

Like what you're reading? Please share it...

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on telegram
Share on reddit
Share on email
Share on vk
Share on tumblr

When I came up with Ethereum, my first first thought was, 'Okay, this thing is too good to be true.' As it turned out, the core Ethereum idea was good - fundamentally, completely sound