Get to know KNC, the new BEP20 crypto asset on Indodax
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Get to know KNC, the new BEP20 crypto asset on Indodax

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Get to know KNC, the new BEP20 crypto asset on Indodax

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The KNC crypto asset this week will be listed on Indodax. Open deposit will start on April 06, 2022 at 14:00 WIB and open trading will start on April 07, 2022 also at 14:00 WIB.

One of the crypto assets that works on the BEP20 system, KNC is now available on Indodax. KNC’s main goal of Kyber Network is to support DeFi DApps, decentralized exchanges (DEXs) and other users easy access to pools that provide the best prices. Let’s cut to the chase! Come and find out more here!

What Is Kyber Network (KNC)

Kyber Network is a hub of liquidity protocols that aggregates liquidity from various sources to provide secure and instant transactions on any decentralized application (DApp). The main goal of Kyber Network is to enable DeFi DApps, decentralized exchanges (DEXs) and other users easy access to liquidity pools that provide the best rates.

All transactions on Kyber are on-chain, which means they can be easily verified using any Ethereum block explorer. Projects can build on top of Kyber to utilize all the services offered by the protocol, such as the instant settlement of tokens, liquidity aggregation, and a customizable business model.

Kyber looks to solve the liquidity issue in the decentralized finance (DeFi) industry by allowing developers to build products and services without having to worry about liquidity for different needs. 

The Kyber Network Crystal (KNC) token is a utility token that is the “glue that connects different stakeholders in Kyber’s ecosystem.” KNC holders can stake their tokens in the KyberDAO to help govern the platform and vote on important proposals and earn staking rewards in Ethereum (ETH) that come from trading fees.

Founders of Kyber Network

Kyber Network began its development in 2017 and is built on top of the Ethereum blockchain. The project was founded by Loi Luu, Victor Tran and Yaron Velner, and currently has its headquarters in Singapore.

Loi Luu is a blockchain researcher and an advisor for various blockchain projects. He developed Oyente, the first open-source security analyzer for Ethereum smart contracts, and co-founded SmartPool, among other decentralized projects.

Victor Tran is a senior backend engineer and Linux system administrator. He was the CTO at Clixy and 24/7 Digital Group as well as a developer for several projects in Vietnam.

Yaron Velner is the current CEO of B.Protocol, a decentralized backstop liquidity protocol, and was a postdoctoral researcher. Velner stepped down from his CTO position at Kyber in October 2019 but remains as an advisor.

The Kyber team is also composed of several executive advisors, engineers and designers. According to the official Kyber Network LinkedIn page, the company has over 50 employees — most of which are based in Vietnam or Singapore.

How Is the Kyber Network Secured?

As an ERC-20 token, Kyber is built on top of and secured by the Ethereum blockchain. In addition, Kyber uses an extensive trust and security model that protects users from misbehaving administrators or exchanges, thanks to security measures built in both at the protocol and smart contract level.

The platform has been audited by several third-party security firms and researchers, including Chainsecurity, which have determined that the protocol is secure and hence free of vulnerabilities.

KNC Crypto Assets

The current CoinMarketCap ranking is #129, with a live market cap of $561,155,516 USD. It has a circulating supply of 177,809,350 KNC coins and the max. supply is not available.

How to Buy KNC Crypto Assets on Indodax

For those of you who want to buy KNC crypto assets, you can buy them on Indodax starting April 06, 2022 at 14:00 WIB

Here’s how to buy it:

  1. For those of you who are not yet a member, you can click the link here
  2. After that, make a deposit. For those of you who are confused about how to deposit, click on this link
  3. After your deposit and balance come in, you can return to the market
  4. Look for KNC in the Rupiah market then click
  5. After entering, all you have to do is buy by filling in the balance and at what price you want to buy KNC. You can also buy it instantly or directly at the current price
  6. After that, you need to patiently wait for the price to increase for some time
  7. After the price increases, you can sell it at a higher price with the instant method
  8. If you sell with the limit method, you can place orders after buying. Make sure you enter a higher number when selling.
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