StakeWith.Us partners Kyber Network as KyberDAO Pool Master
KNC stakers will be able to delegate KyberDAO voting power and earn rewards in ETH.
Covered by CoinDesk — Monday, 4 May 2020
Today marks the official announcement of the StakeWith.Us and Kyber Network partnership in line with the upcoming Katalyst Upgrade going live at the end of Q2 2020.
We’ve been working closely with the Kyber team in providing technical assistance to spec out an essential extension for the KyberDAO Katalyst upgrade — a smart contract proxy to allow all KyberDAO Pool Masters to trustlessly operate without the need to deploy additional smart contracts.
With Kyber, the Katalyst upgrade will involve a new staking mechanism and the launch of the KyberDAO — a decentralized community platform for KNC token holders to participate in protocol governance. Their staking model will reward KNC stakers network fees for participating in their network governing process. But unlike other protocols that commonly payout fees in their native tokens, Kyber will be the only protocol that has a deflationary staking token with network fees paid out in ETH — an asset with monetary premium.
When Katalyst goes live, we’ll be actively participating as a Pool Master, taking part in all KyberDAO votes on behalf of delegators. KNC (Kyber Network Crystal) Stakers, who desire greater convenience and flexibility toward participation in KyberDAO but do not wish to vote in the process, can choose to delegate with us on our ATLAS platform. Staking will be fully non-custodial, and KNC holders will be able to withdraw or re-delegate anytime. All voting decisions will be fully transparent, and rationales will be shared.
In the future, KNC staking will be available on Unagii.com — our latest multi-chain yield management platform. And to mark the support of our new partnership, staking of KNC on our platform will be free during the initial launch period.
“Kyber staking doesn’t require any minimum amount, lockups, or slashing. KyberDAO and the governance process were designed to empower our community while ensuring the security and stability of the network. Now with StakeWith.Us, KNC holders will possess even greater flexibility in participating in network governance” — Loi Luu, CEO of Kyber Network.
As huge supporters of Kyber, we’ll be self-delegating alongside our stakers so rest assured that we have your best interests at heart. In the meantime, drop your interest here to let us know you’re keen!
Staking is the process of putting your tokens to work, typically by locking them up for some time, and in return, rewarding you with network participation fees.
For a detailed breakdown of KNC staking, read the KyberDAO overview and their Staking, Voting, and Withdrawing examples.
About Kyber Network
Kyber’s on-chain liquidity protocol allows decentralized token swaps to be integrated into any application. Using Kyber, developers can build innovative applications, including instant token swap services, decentralized payment flows, and financial DApps — helping to build a world where any token is usable anywhere.
Kyber is one of the most used decentralized finance (DeFi) protocols in the world, with over US$950M worth of transactions facilitated since its launch. Kyber supports over 80 different tokens, and powers close to 100 integrated projects including popular wallets MEW, Trust, Enjin, Argent, and the HTC Exodus smartphone, as well as DeFi platforms Nuo, DeFiSaver, Fulcrum, InstaDApp, Set Protocol, Melon, and many others.
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About StakeWith.Us
StakeWith.Us is a Singapore-based blockchain infrastructure firm, founded in February 2019.
We build secure and highly reliable blockchain infrastructures, validating for proven blockchain projects with a growing number of retail and institutional clients. We are the first and only staking infrastructure provider backed by a government deep tech fund — SGInnovate, together with LuneX Ventures, Golden Gate Ventures’ blockchain arm.
