KyberDAO (KNC)
Basic Info
Token: KNC
Sector: Exchange Aggregator
Governance: Offchain
Protocol Overview
Kyber is an exchange protocol that facilitates trading between a wide array of decentralized exchanges, market makers, and integrated applications. Kyber works similarly to an exchange aggregator, but with additional features that enable professional market makers to provide on chain liquidity according to bespoke strategies.
KyberDAO is the decentralized governance body of the Kyber Network, a liquidity protocol that allows decentralized token swaps to be integrated into any application. KyberDAO is responsible for making key decisions regarding the Kyber Network, such as changes to protocol fees, and is composed of KNC (Kyber Network Crystal) token holders.
KNC holders can stake their tokens to participate in the governance of the Kyber Network and earn rewards in the form of ETH. The Kyber Network aggregates liquidity from various sources, including market makers, token projects, and liquidity pools.
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