What is Kyber Network Crystal (KNC)?
Kyber Network Crystal is the token behind Kyber Network, a liquidity project founded in Singapore in 2017 by Loi Luu, Victor Tran and Yaron Velner. The current KNC contract dates from April 2021, when holders migrated the original token (now called KNCL) one-for-one to an upgradeable version approved by KyberDAO.
- Type
- DEX aggregator governance token
- Launched
- 2017
- Consensus
- Runs on Ethereum
- Max supply
- No fixed cap (DAO can mint or burn)
- Swap network
- Ethereum
How Kyber Network Crystal works
KyberSwap routes trades across many decentralized exchanges and chains to find competitive prices, and also runs its own concentrated-liquidity pools. KNC holders stake in KyberDAO to vote on proposals that shape fees, incentives and the protocol's direction.
What KNC is used for
Holders stake KNC to take part in governance and, depending on the program in force, collect rewards linked to protocol activity. It also trades as a liquid DeFi asset on Ethereum and other EVM networks where KyberSwap is deployed.
KNC supply
The 2021 upgrade gave KyberDAO power to mint or burn KNC through governance; the DAO has already voted to mint extra tokens for an ecosystem fund, so the supply is not permanently fixed.
Before you swap KNC
KNC is listed here as the Ethereum ERC-20 (the v2 contract, not legacy KNCL). Keep some ETH in the receiving wallet to pay gas when you use it later.