Kyber Network(KNC) Listing
BYTEX is pleased to announce listing of Kyber Network (KNC)
Listing Date: January 10th, 2019 (Thr), 16:00 GMT+9
Name of Token: Kyber Network
Country of Incorporation: Singapore
Role of Token: Utility
Token Type: ERC20
Kyber Network is an open-source, on-chain liquidity protocol that mediates decentralized token swaps (KyberSwaps). On Kyber Network, users can conveniently convert their tokens to a different cryptocurrency with instant settlement and no transaction uncertainty.
In order for Kyber Network to function smoothly, there must be at least one liquidity reserve available at all times. Along with the Kyber Network’s own reserve, the network accepts liquidity contribution from any providers with large, idle digital assets (i.e. fund managers, large token holders, token teams), making the reserves both global and diversified.
Kyber protocol is also a developer-friendly tool as it can be easily integrated into different crypto services, such as DApps, wallets and payment gateways. This allows the token holders to easily convert their tokens if needed while using such services. The protocol is currently integrated into popular wallets, like MyEtherWallet, and financial DApps like Olympus Labs that invests in a wide range of tokens.
Kyber Network Crystal (KNC) is an ERC-20 token that plays an integral role in facilitating a smooth transactional network. Businesses and DApps that integrate the Kyber protocol can receive commissions in KNCs. KNC is also the acting currency for paying transaction fees, which are collected each time an exchange occurs on the network. The collected KNC is then burned to reduce the overall token supply. A list of uses and applications for KNC will grow as such demands rise in the rapidly revolutionizing token economy.
Token & Fundraising Details:
Maximum Supply: 226,000,000 KNC
- 61.06% - Public Sale
- 19.47% - Company
- 19.47% - Founders, Advisors and Early Investors
Use of Funds:
- 50% - First Reserve
- 30% - Development
- 10% - Legal/Marketing
- 10% - Operation
Trade Start Date: Sep. 24/2017
- Public sale tokens all unlocked in September 2017
- Private sale and early investor all unlocked in September 2017
- Team and advisor tokens are vested over 2 years with one year lockup
- Unlocked in December 2018 and released quarterly through September 2019
- Loi Luu CEO & Co-Founder: Ph.D. from National University of Singapore; Developed Oyente, the first open-source security analyzer for Ethereum smart contracts; Designed the first sharding protocol for public blockchain founder of Ripplefox
- Yaron Velner CTO & Co-Founder: Ph.D. from Tel Aviv University; previously a senior software engineer and a technical leader at EZchip semi-conductors
- Victor Tran Head of Development & Co-Founder: Senior backend engineer and Linux system administrator; Previously a lead engineer at the SmartPool project
- Myra Loh CFO: MBA from University of California, Riverside; Previously director of finance at Resorts World Sentosa
- Wong Lee Hong (Executive Advisor): Senior Vice President at United Overseas Bank Limited (UOB); Advisor for Traceto, Sentinel Protocol, SnapBot, and Galion
- Vitalik Buterin: Founder and Chief Scientist of Ethereum; Founder and writer for Bitcoin Magazine
- Leng Hoe Lon: Co-founder of Shentilium and TrackRecordAsia; Managing Director in Goldman Sach’s Asia Macro Trading group in HK and Asian FX trader in London; CEO of Tudor Capital Singapore
- Chionh Chye Kit: Founder and CEO of RegTech; Co-Founder and Managing Director of Cynopsis.co; Founder of CCK Solutions; Managing Director and Regional Head of Compliance at Macquarie; Recipient of MAS FinTech Award 2018
- Kenneth Oh: Senior Partner at Dentons Rodyk; Advisor for multiple crypto startups like Kyber, Sentinel and Tokenomy
- Prateek Saxena: Research professor in computer science at National University of Singapore; recipient of several prestigious awards, such as the MIT TR35 Asia.
- John Ng Pangilinan: Partner at Signum Capital
- Pandia Jiang: Founder of LinkTime and an organizer of several Ethereum workshops in China and worldwide
- Simon Kim: Co-founder and CPO of Knowre; Advisor for Kyber Network, ICON Foundation and Kambria; CEO and Partner of Hashed
This document is based on the information collected found on the KyberNetwork website and through formal legal channels. We make every effort to provide complete and accurate information. However, we do not guarantee accuracy, completeness, timeliness or correct sequencing of the information. This information is not to be regarded as investment advice, or legal proof, or evidence.
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