Kyber 2.0 Event Round-up

On Friday, June 8th, over 200 of the world’s most renowned blockchain entrepreneurs, developers, academics and venture capital funds were in Singapore to attend the Kyber Network 2.0 event held at the JW Marriott South Beach Hotel.

This event was a celebration of Kyber Network’s milestones, and an opportunity to show our appreciation to the many ecosystem partners that have contributed to our success.

More importantly, Kyber Network 2.0 provided the platform for CEO Loi Luu to unveil Kyber’s vision to connect the tokenized world by making any token usable anywhere.

The Future of the Tokenized World

Imagine an increasingly tokenized world, with the emergence of thousands of new DApps (decentralized applications built on blockchain technology), cryptocurrencies and isolated ecosystems, and hundreds of different token rules and standards.

In such a future, liquidity — how fast and easy value or items of value (eg. tokens/cryptocurrencies), can be transferred and utilized across different platforms and ecosystems with minimal cost — becomes all the more important.

Liquidity is the lifeblood of commerce and finance. The smooth and unobstructed flow of value across different parties or ecosystems enable stronger collaboration, relationships and growth.

Without easily accessible token liquidity, an immense amount of value will be trapped within each unique token ecosystem. Due to this ecosystem fragmentation, individual crypto projects will find it very challenging to gain adoption, or even be recognized. Collaborating on initiatives that benefit the entire world will be next to impossible to achieve.

The value of each token, each project, is hence trapped within its unique ecosystem, rendering the token much less useful. Only by having more value flow between different players, tokens get more utility, each project becomes more valuable, and the whole tokenized world becomes more connected.

As such, there is a very urgent need by stakeholders like DApps, Merchants, Traders, Token teams, Reserves and Funds, for seamless token conversions and liquidity.

Kyber Network will provide the roads and bridges that facilitate the flow of value and conversion of tokens across different players in different ecosystems, thereby making tokens more liquid and useful.

We aim to connect the entire decentralized and tokenized world with instant, secure and accessible liquidity, allowing individuals and businesses alike to plug in, swap and use a wide variety of cryptocurrencies easily across multiple platforms. Anyone who plugs into the network will instantly be connected to everyone else.

How does Kyber Network achieve this? There are 4 interfaces that can be used to tap into our liquidity protocol, each one focused on a different user segment — KyberSwap for mainstream individuals, KyberDeveloper for businesses, projects or DApps, KyberReserve for token holders with substantial assets, and KyberGO for token sale contributors, teams and advisory firms. Together, they ensure that interacting with our protocol will be an easy and convenient process for everyone involved.

1. KyberSwap

KyberSwap is the most secure and convenient instant token swap service powered by Kyber’s protocol. Users have the freedom to choose from a wide variety of cryptocurrencies. We created it to bring the benefits of decentralized token conversion to all novice and mainstream users looking for the best way to obtain their favourite tokens.

Taking into consideration months of user feedback from our community and industry experts, we will soon be releasing the new KyberSwap UI/UX, which will be the most ideal interface for easy token swaps.

2. KyberDeveloper

KyberDeveloper powers liquidity for the ecosystem with a set of convenient developer tools that are highly compatible and developer-friendly by design. We aim to provide extremely clear and simple documentation to enable ANY blockchain or decentralized project to easily plug into Kyber Network and leverage our liquidity pools.

For example, wallets and websites can provide seamless token swaps on their own platform/website. Another example could be fund management DApps leveraging KyberDeveloper to rebalance their portfolio on-chain in the most transparent and liquid manner. If you are a DApp, Merchant, Wallet, Investment Fund or any other decentralized ecosystem player, we welcome you to join Kyber by integrating with our protocol.

These tools will be readily available in the soon-to-be launched KyberDeveloper API documentation site. You will be able to easily plug into our network, access seamless liquidity and start sending and receiving a wide variety of cryptocurrencies on your own platform, without any hassle.

3. KyberReserve

KyberReserve provides decentralized liquidity for token holders with substantial assets. It is comprised of dedicated liquidity providers that are connected to diverse stakeholders in the wider ecosystem. Entities such as Fund managers and Token teams, can easily become KyberReserves by contributing their large amount of idle token assets to our decentralized central liquidity pool. These tokens become available for use across any platform that taps into our network, making them instantly more liquid and useful. KyberReserves can earn from the spread in every transaction and rebalance their portfolios, while providing liquidity and value flow for the entire tokenized world.

Currently, we are already undergoing private testing with a few reserves including Prycto and SnapBots. In July 2018, you can look forward to the release of simple step-by-step instructions and clear KyberReserves API documentation, through which becoming a KyberReserve will be a very fast and easy task.

4. KyberGO

Kyber Network focuses on providing solutions that benefit the entire decentralized and tokenized world. Currently, one of the biggest use cases for blockchain is token sales/generation events. However, the token sale process is plagued by many chronic problems such as phishing attempts, hacks, scams, frauds and complex KYC (Know-Your-Customer) processes. Moreover, most token sales only allow contributions in Ether or Bitcoin. These issues make it extremely tedious for potential contributors to participate.

When the KyberGO service is launched, it will establish a new standard for democratic token sales, by providing fully decentralized and widespread token distribution. It is also the most secure, convenient and liquid platform for any user to contribute to a token sale. A KGO (Kyber Genesis Offering) token sale will be a fully on-chain, highly secure and instant process where users can contribute using a wide variety of tokens and immediately receive the project’s new tokens in their wallet address.

Gormos

Apart from the aforementioned components of Kyber Network, Loi also announced the development of a powerful new open-sourced scalability solution called Gormos, which is possibly even faster and more scalable than both Plasma and current sharding solutions.

Gormos is designed for specific applications that require an extremely fast, low cost and low latency scalability solution. Examples include exchanges, social networks and online games. Gormos is expected to be ready in Q3 2019.

 

In the coming weeks, we will be providing more details about all these exciting features and website developments, so stay tuned!

Growing the Decentralized Ecosystem

Since our token sale in September 2017, in which we raised $USD 52 million, Kyber Network has been consistently hitting milestone after milestone. We aim to leverage on this current momentum and work together with other influential projects to grow the ecosystem and make blockchain technology and cryptocurrencies easily accessible and more importantly, useful for all mainstream users.

Two such ecosystem partners presented at our Kyber Network 2.0 event: Sparrow Exchange, the world’s first peer-to-peer options trading platform, was represented by CEO Kenneth Yeo and Traceto.io, a decentralized KYC (Know-Your-Customer) compliance service, was represented by CEO Chionh Chye Kit.

Attendees were also treated to an insightful panel discussion about the importance of decentralized liquidity and finance, comprising industry experts Shaun Djie — DigixGlobal COO, Taiyang Zhang — Republic ProtocolCEO, Darius Sit — QCP Managing Partner and Leo Tas, Prycto CEO.

The event ended on a very inspiring note with the Founder of Ethereum himself, Vitalik Buterin, coming on stage for the final segment to talk about updates to Sharding and Casper, and share his views on the future of Ethereum and the wider decentralized ecosystem.

In the coming weeks, we will be providing more details about all these exciting features and website developments, so stay tuned!

Growing the Decentralized Ecosystem

Since our token sale in September 2017, in which we raised $USD 52 million, Kyber Network has been consistently hitting milestone after milestone. We aim to leverage on this current momentum and work together with other influential projects to grow the ecosystem and make blockchain technology and cryptocurrencies easily accessible and more importantly, useful for all mainstream users.

Two such ecosystem partners presented at our Kyber Network 2.0 event: Sparrow Exchange, the world’s first peer-to-peer options trading platform, was represented by CEO Kenneth Yeo and Traceto.io, a decentralized KYC (Know-Your-Customer) compliance service, was represented by CEO Chionh Chye Kit.

Attendees were also treated to an insightful panel discussion about the importance of decentralized liquidity and finance, comprising industry experts Shaun Djie — DigixGlobal COO, Taiyang Zhang — Republic Protocol CEO, Darius Sit — QCP Managing Partner and Leo Tas, Prycto CEO.

The event ended on a very inspiring note with the Founder of Ethereum himself, Vitalik Buterin, coming on stage for the final segment to talk about updates to Sharding and Casper, and share his views on the future of Ethereum and the wider decentralized ecosystem.

Towards a Truly Decentralized Future

Kyber Network 2.0 marks the beginning of our team’s renewed focus on bringing the benefits of decentralization to the mainstream and unlocking the latent value trapped in isolated ecosystems across an increasingly tokenized world.

We envision a world where tokens have practical value and use cases across many different marketplaces, platforms and ecosystems. Anyone who owns tokens, or buys into a tokenized hedge fund, should be able to easily use these tokens in any context they want — whether to use gold-backed tokens to buy a T-shirt in a matter of seconds, invest in alternative funds in a completely different part of the world, use tokenized real estate to buy rare virtual game weapons, or to even use a tokenized piece of the valuable artwork hanging in the living room to purchase a brand new car.

Kyber Network is able to make such complex token use cases possible, by providing the easiest and most secure way to plug in and access token liquidity.

Kyber Network also seeks closer collaboration with more ecosystem partners and our beloved community, to achieve even greater success and impact for the entire decentralized world.

Through our creation of a unique protocol for open liquidity contribution and utilisation by many different ecosystem players, and with the continued support from all of you in our own Kyber Network ecosystem, we believe our vision of a truly decentralized future will soon become a reality.

Moving forward, Kyber Network will be dedicating more resources to educate our community and the wider ecosystem about decentralized technologies in general, as well as the huge importance of liquidity and our role in making tokens more liquid and usable across different platforms and ecosystems. As such, kindly note that the Kyber Network progress updates, which encapsulate major technical and business development updates, will be issued on a monthly, rather than bi-weekly basis.

Together, let’s begin creating a truly decentralized future!

To learn more about our vision for the tokenized world, please watch our Kyber Network 2.0 event livestream video:

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About Kyber Network

Kyber Network is building a world where any token is usable anywhere. KyberSwap.com, our flagship Decentralized Exchange (DEX) aggregator, provides superior rates for traders in DeFi across 17 chains.

KyberSwap powers 200+ integrated projects and has facilitated over US$20 billion worth of transactions for thousands of users across 17 chains since its inception. Full list of supported exchanges and networks available here.

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