Kyber Network’s v3 Upgrade Will Transition The Protocol to A DeFi Hub to Compete with Uniswap

2021-1-22 18:26

Kyber Network schedules new protocol upgrades on Kyber 3.0. The new upgrades will be rolled out by Q3 2021 in two stages – Katana and Kaizen. The new upgrade protocol will introduce dynamic market-making (DMM) and a new governance protocol.

A long Medium blog post from the Kyber Network team confirmed the launch of new updates on its new version, the Kyber Network 3.0 upgrade, which will transition the protocol into a decentralized finance hub (DeFi). The new upgrades aim to expand into a network of specialized liquidity pools, introduce a dynamic market maker (DMM) and introduce governance to its platform.

The new architectural changes are expected to be rolled out in two main stages, Katana and Kaizen, which are expected to be done in the “coming eight to nine months,” the report confirmed. The upgrades aim to solve the high gas costs on Ethereum while spurring DeFi products' innovation on Kyber Network.

According to the post, Kyber 3.0 will introduce the dynamic market maker (DMM), which is expected to reduce slippage and high transfer fees while trading on the DEX. DMMs will provide important benefits to liquidity providers too, “allowing fully permissionless liquidity contribution from anyone and access to this liquidity by any taker (e.g., Dapp, aggregators, end-users),” the blog post reads. Additionally, Kyber Network CEO, Loi Lu said in an interview,

“Kyber will become a hub for liquidity innovation and growth, with the new Dynamic Market Maker (DMM) as the first major development for space. KyberDAO's ability to drive and capture value from all the innovation in the network will be greatly amplified as well.”

Using DMMs, liquidity pool creators will be able to customize each asset's weight in the pool and set a custom amplification factor to reduce the chances of slippage while trading.

Kyber 3.0 also introduces changes in trading fees, which will be adjusted dynamically using volumes and price to mitigate impermanent loss risk. It is a common phenomenon in DeFi that sees liquidity providers lose in times of price volatility. The fees will be adjusted higher when market volumes increase and lower when the market volumes are low.

The new improvements will also set better gas optimizations to reduce the cost of trading and providing liquidity to pools on the DEX.

A new KNC governance token?

Notwithstanding, Kyber 3.0 is also set to overhaul its KNC token (Kyber’s native token) to make it a governance token. The new KNC token will be used in voting proposals and generating value propositions to holders, such as receiving a portion of the fees paid.

The launch of KyberDAO brought about new “sources of value accrual” in addition to the DMM platform and custom liquidity pools. The new governance token will play a huge role in maintaining order and consensus across Kyber 3.0, the post further reads.

“The governance utility of KNC will be greatly enhanced as well, given that they now have effective oversight of these various protocols,” the post reads. “KyberDAO will also have the ability to vote in and fund new protocols for the network.”

The new upgrades launch is set to be completed before the close of Q3 2021, with the team announcing two main release stages – Katana, expected in Q1-Q2 2021, and Kaizen, expected to be completed in Q3 2021.

The post Kyber Network’s v3 Upgrade Will Transition The Protocol to A DeFi Hub to Compete with Uniswap first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Santiment Network Token (SAN) на Currencies.ru

$ 0.0865709 (-0.22%)
Объем 24H $210
Изменеия 24h: 9.95 %, 7d: 19.49 %
Cегодня L: $0.0865709 - H: $0.0865709
Капитализация $0 Rank 5672
Цена в час новости $ 0.1272 (-31.94%)

kyber network defi protocol new hub transition

kyber network → Результатов: 126


Kyber Network price dips after withdrawal alert

At press time, the price of Kyber Network Crystal v2 (KNC) had dropped 2.26% today. Kyber’s Elastic product’s TVL has plunged to $61 million yesterday. Kyber Network has advised liquidity providers to withdraw funds The Kyber Network Crystal v2 (KNC) took a hit today after Decentralized finance (DeFi) Kyber Network advised its liquidity providers to […] The post Kyber Network price dips after withdrawal alert appeared first on CoinJournal.

2023-4-18 19:15


Kyber Network проведет серьезное обновление протокола

Разработчики Kyber Network анонсировали переход на версию 3. 0, которая превратит децентрализованную биржу (DEX) в «хаб целевых протоколов ликвидности для различных вариантов использования DeFi». We're excited to announce Kyber 3.

2021-1-23 18:48


Фото:

Kyber Network анонсировал «масштабное» обновление протокола

Разработчики Kyber Network анонсировали переход на версию 3. 0, которая превратит децентрализованную биржу (DEX) в «хаб целевых протоколов ликвидности для различных вариантов использования DeFi».

2021-1-22 16:50


Фото:

Kyber Network представил платформу для создания рынка внутри сети

Разработчики протокола Kyber Network запустили структуру, которая призвана упростить создание ончейн-рынка с участием профессиональных поставщиков ликвидности.

2020-10-26 10:00


Фото:

Kyber Network запустил платформу для создания рынка внутри сети

Разработчики протокола Kyber Network запустили структуру, которая призвана упростить создание ончейн-рынка с участием профессиональных поставщиков ликвидности. 1/ We're excited to announce the launch of KyberPRO, an end-to-end framework for professional market makers to easily onboard to #DeFi and run a profitable on-chain operation with minimal smart contract knowledge required.

2020-10-25 13:53


Фото:

Kyber Network объявил дату обновления с поддержкой стейкинга

Разработчики протокола Kyber Network проведут обновление Katalyst 7 июля. С ним у пользователей появится возможность зарабатывать на стейкинге и участвовать в решении различных вопросов на платформе.

2020-6-30 12:32


У держателей Kyber Network Crystal появится возможность стейкинга

Разработчики децентрализованной биржи Kyber Network планируют запустить обновление протокола Katalyst 7 июля. Как сообщает CoinDesk, оно направлено на изменение роли собственного токена Kyber Network Crystal (KNC) в целях поощрения участия в развитии проекта.

2020-6-30 19:52


В Берлине пройдёт глобальная конференция DappCon

19-20 июля в столице Германии — Берлине пройдёт Developer Conference for Ethereum Dapps & Infrastructure DappCon Berlin, Germany Postbahnhof Str. der Pariser Kommune 8, Berlin, Germany Описание: DappCon is a nonprofit global developer conference focusing on decentralized applications, tooling, and foundational infrastructure on Ethereum.

2018-7-13 10:34


Виталик Бутерин займется финансированием блокчейн-проектов

Главный разработчик Ethereum принял решение подержать перспективные Blockchain-проекты. Виталик Бутерин планирует направить на финансирование стартапов все деньги, которые получит за консалтинговые услуги Kyber и OmiseGo.

2018-6-22 15:14