PLAAK Mystery Coin Contest Round #1 — Kyber Network (KNC)
Ready, set, go!
The mystery contest sets off with 10 PLK awarded to whoever chose Kyber Network (KNC) as our first eyes wide shut coin. We would like to congratulate the lucky winner for their in-depth insight into progressive blockchain companies.
There are those who focus on a single solution — albeit a challenging one and blockchain solutions who address a multitude of pragmatic issues.
Kyber Network might be an underdog in the cryptocurrency eco-system but those that are involved in blockchain as a technology are probably familiar with Kyber. They have none other than blockchain superstar Vitalik Buterin as one of their advisors.
Similar to our approach at PLAAK and our proprietary eco-system, Kyber Network is offering a solution for blockchain entrepreneurs and companies to safely migrate their financial and development operations to their network.
Quick Facts about Kyber Network (KNC)
Kyber Network took to creating a financial infrastructure as a backbone to expanding their operations and functionality of the project. One of their C.E.O.’s, Loi Luu is devoted to research on Smart Contract security, consensus algorithms and cryptocurrency in general.
Yaron Velner focuses on the formality of Smart Contracts, the relationship between game theory and blockchain incentives. As a sign of their dedication to technology development, Kyber has boarded a Linux expert and backend developer in their management team.
The combination of their skillsets enabled them to create an intricate system, combining tokenomics and blockchain technology into an equilibrium. Kyber Network’s team understands the legal repercussions of the economic aspects a cryptocurrency poses and they’ve addressed it with a specific approach to maintain their liquidity.
The Kyber (KNC) Flavours
Their complex micro-economy is constituted of users, reserve entities, reserve contributors, managers and operators. Their system aims to make full use of tokens through by the four main constituents of the platform:
- Kyber Swap — A retail platform for trading tokens
- Kyber Developer — Developer tools for integrating an existing blockchain or decentralized platform into their liquidity pool
- Kyber Reserve — Idle tokens can be added to the reserve and earn spreads from transactions
- Kyber Go — A proprietary, user-friendly platform token sale platform
To ensure the use of best practice, refrain from manipulation and exploitation, both automated and human resources are supervising the exchanges.
By offering both incentives and a stable financial eco-system, where the chance for exploitation is eliminated, Kyber Network established the building blocks for their extensive technological platform.
Kyber’s on-chain liquidity protocol allows decentralized token swaps to be integrated into any application, enabling value exchange to be performed seamlessly between all parties in the ecosystem.
This feature alone isn’t the novelty that Kyber Network brings to the table. Other blockchains that focus on on-chain transactions took it to a higher degree. In Kyber’s case, interoperability between cryptocurrencies is implemented in a way to provide the improved functionality of blockchain applications and is intertwined with the Smart Contracts and DAPPS running on their network.
Tapping on the protocol, developers can build payment flows and financial apps, including instant token swap services, erc20 payments, and innovative financial DAPPS — helping to build a world where any token is usable anywhere.
Combining a secure and progressive incentive-based investment system with liquidity as a focal point, and implementing state-of-the-art blockchain technology, the Kyber Network project has solid ground to build on.
The team at PLAAK is focused on technology development and delivering the full eco-system, as we believe that exceptional products don’t require excess marketing. We know that the team behind Kyber Network operates on the same level and follows the same guidelines for success.
Our community believes in our strategic approach which gives us more reason to collaborate with companies that apply the same tactics. That’s why we consider the Kyber Network (KNC) coin to be a substantial asset to our Exchange starting today and in the future.
At PLAAK, we are more than grateful for the feedback we’ve received, and the Mystery Coin Contest is just one of the ways in our plan to keep our community involved.
Once again, congratulations to today’s lucky winner. We would like to add that all of the Exchange users are the real winners by listing KNC on our exchange.
PLAAK uses this chance to welcome the Kyber community! Register on our exchange and submit your KYC documents now to start trading KNC!
PLAAK — IT’S YOUR WORLD
Official links:
Website: https://www.plaak.com
PLAAK Exchange: https://plaak.io/
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