What is Kyber?

Kyber is an on-chain liquidity aggregation protocol that provides safe and convenient flash swap services.

What's the use of Kyber?

These sources of liquidity aggregated by Kyber are called reserve pools. Each reserve pool is independently managed by its own reserve manager, and its transaction exchange rate settings are also completely independent. When a user initiates a transaction, Kyber will find the best exchange path from it, so as to provide users with a better exchange rate.

The sources of liquidity in the reserve pool include Kyber's official reserves, market makers, exchange pools, etc. The liquidity provider makes a profit from the difference between the benchmark interest rate (determined by Kyber Network) and the interest rate paid by the user. Kyber's limit order transactions are carried out through offline matching.

Kyber is a full chain transaction, the transaction is transparent and verifiable, and DApps can easily integrate kyber. According to Binance data, Kyber is also the most integrated (over 100 DApps) and most used DeFi protocol in 2019.

What is Katalyst?

Kyber has completed the Katalyst protocol upgrade on July 7, 2020 [1], and launched a new decentralized governance mechanism KyberDAO. The upgrade can enhance the decentralized liquidity of decentralized finance (DeFi) and incentivize the Kyber ecosystem. The main stakeholders are involved.

Kyber currently supports the currency exchange of more than 70 Ethereum-based tokens including ETH, KNC, DAI, ZRX, etc. At the same time, the governance token KNC was officially issued. KNC holders can participate in Kyber's on-chain governance by staking KNC to vote on important proposals and parameters, and at the same time obtain benefits.

References

[1] Katalyst protocol upgrade: https://blog.kyber.network/katalyst-and-kyberdao-are-now-live-19ee6a6eb77e