Name: KYBER NETWORK - Decentralized Exchange for Instant Conversion of Crypto-Assets and Payments
Price Info: - https://coinmarketcap.com/currencies/kyber-network/
Kyber is a system that allows the instant exchange and conversion of cryptoassets. It also allows merchants to receive payments in any token, while also mitigating the risk of price fluctuations in cryptocurrencies with derivatives trading. It is trustless, decentralized and provides high liquidity. The specialized team counts on advisors like Vitalik Buterin (Ethereum).
Kyber will be a decentralized exchange in which users will be able to buy and sell cryptocurrencies. In the Kyber Network there are 5 separate roles actors can partake in: Users, Reservers, Reserve Contributors, Reserve Managers, and Kyber Network Operators. Users will be people who want to trade cryptocurrencies on the exchange.
Reserves will be the entity(ies) that provide liquidity for the platform (by holding the reserves of crypto assets). Reserve contributors will be actors who contribute assets / money to the reserves and take a share in the profits (further increase liquidity). Reserve managers are the actors who will control the exchange rates in reserves. And finally the Kyber Network Operators will be the ones who maintain the network by listing/delisting token pairs. At first this will only be Kyber Network employees, but will eventually be transitioned into a decentralized model.
There are a couple of unique features to Kyber which sets it apart from other exchanges in a positive way. One of the main differentiating factors is the way Kyber will exchange token A (payment) for token B (desired) for an individual user. Kyber will look through all of the reserves to determine the best route from A, B, which will allow the best exchange rate?
Individual A may be paying in BTC and want LTC. However, Kyber may first exchange individual A’s bitcoins for ETH and then exchange the ETH for LTC if it provides a better exchange rate for individual A. It seemingly eliminates non-efficient exchange rates and their characteristic arbitrage opportunities within the Kyber exchange itself.
Additionally, Kyber will take advantage of their new wallet contract which will allow Kyber to send tokens on to the user’s desired destination on their behalf. The destination address will receive the converted tokens as if the tokens were sent from the sender, not the Kyber contract. This couples with the novel feature above which convulutes the path of A ? B but may provide a better exchange rate.
Kybers has a proposed integration into already used and popularized wallets such as MyEtherWallet, Jaxx, and others and will help the adoption of this decentralized exchange.
Another feature completely overlooked by many is the implementation of futures markets into Kyber. Kyber will have futures in the forms of what they call “forwards” and “options”. Forwards will allow two parties to trade a cryptocurrency pair at a later time but at a predetermined price. For example, if person A thinks the price of ETH will go up in 10 days, they can create futures contracts to purchase ETH in 10 days around the current market price.
In Options, they protect against a perceived price drop and the come in the form of calls and also puts.
Call options give the owner of the contract the right to purchase a crypto asset at an agreed upon price. Put options are the opposite.
Owners of the contract must also pay a fee called a premium which is calculated using the implied volatility of the underlying asset. It was not stated in their whitepaper how this volatility calculation will be made, but I will assume it will be fairly reasonable. And, from what I understand, party A will write the contract, and party B will purchase the contract and be responsible for the premium attached to it.
Kyber will provide a trustless exchange which will offer instant trades, low fees and high liquidity for users.
Kyber Network mainnet will be launched in the first quarter of 2018, and it will surely be big news for the platform. It will allow the trading of ERC20/ETH pairs.
You can buy WAN in the following exchanges with Bitcoin. It is usually delimited in the KNC/BTC pairs, KNC/ETH, KNC/BNB (Binance Coin).
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