We are happy to announce that Tether (USDT) and the Synthetix Network Token (SNX) are now available on Kyber Network!
USDT and SNX are now accessible through KyberSwap and other platforms that are tapping into our on-chain liquidity protocol.
To date, Kyber Network collectively supports over 75 ERC20 tokens. Learn how to buy/sell ERC20 tokens on KyberSwap with our basic guide.
Listing information for USDT and SNX
- Listing date: August 16th, 2019
- Listing time: 9PM (GMT+8)
Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar. Following the widespread success of our Bitcoin-based USD Tether, issued via the Omni Layer Protocol, Tether has launched and issued both US Dollars and Euros as Ethereum-based Tether, compatible with the ERC20 standard. The Ethereum-based Tether allows for tokenized USD and EUR to be transferred over the Ethereum network. This enables interoperability with Ethereum-based protocols and DApps whilst allowing users to transact and exchange fiat pegged currencies across the Ethereum Network.
The contract information and issuance information for these new versions of Tether are viewable at https://wallet.tether.to/transparency.
For more information on Tether:
- Twitter: https://twitter.com/Tether_to/
- Facebook: https://www.facebook.com/tether.to/
- LinkedIn: https://www.linkedin.com/company/tether/
- Website: https://tether.to/
Token information: https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7
Other information: https://coinmarketcap.com/currencies/tether/
About Synthetix Network Token
Synthetix is a decentralized synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralize by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties. This mechanism solves the liquidity and slippage issues experienced by DEX’s. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. SNX holders are incentivized to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from Synth exchanges, from which the value of the SNX token is derived.
All Synths are backed by SNX tokens. Synths are minted when SNX holders stake their SNX as collateral using Mintr, a decentralized application for interacting with the Synthetix contracts. Synths are currently backed by a 750% collateralization ratio, however, this may be raised or lowered in the future through community governance mechanisms. SNX stakers incur debt when they mint Synths, and to exit the system (i.e. unlock their SNX) they must pay back this debt by burning Synths.
For more information on Synthetix Network Token:
- Blog: https://blog.synthetix.io/
- Twitter: https://twitter.com/synthetix_io/
- Reddit: https://reddit.com/r/synthetix_io/
- Discord: https://discordapp.com/invite/AEdUHzt/
- GitHub: https://github.com/Synthetixio/
- Website: https://www.synthetix.io/
Token information: https://etherscan.io/token/0xc011a72400e58ecd99ee497cf89e3775d4bd732f/
Other information: https://coinmarketcap.com/currencies/synthetix-network-token/