Buy Bitcoin here
  • Crypto
    • Bitcoin News
    • Ethereum
    • Altcoin
    • Blockchain
    • Blockchain Companies
    • Cryptocurrency Exchanges
    • DeFi
    • Regulation
    • Cointelegraph news
    • Press Release
    • ICO News
      • ICOs Review
      • Upcoming ICOs
      • Scam
  • Education
    • CryptoTicker Starter Kit
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
    • Events Review
  • Prices
  • Exchange Comparison
  • Newsletter subscribe

  • News

    • Bitcoin News
    • Altcoin
    • Regulation
    • Blockchain Companies
    • Blockchain
    • Cryptocurrency Exchanges
  • News

    • Ethereum
    • Events Review
    • ICO News
    • Press Release
  • Education

    • CryptoTicker Starter Kit
    • Education
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
  • Cryptoticker

    • About us
    • Advertise
    • Media Kit
    • Submit your Press Release
    • Contact
    • Membership Login
  • Social Media

    Facebook Twitter Telegram Youtube
    • Newsletter
  • Crypto
    • Bitcoin News
    • Ethereum
    • Altcoin
    • Blockchain
    • Blockchain Companies
    • Cryptocurrency Exchanges
    • DeFi
    • Regulation
    • Cointelegraph news
    • Press Release
    • ICO News
      • ICOs Review
      • Upcoming ICOs
      • Scam
  • Education
    • CryptoTicker Starter Kit
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
    • Events Review
  • Prices
  • Exchange Comparison
Starter Kit Membership Search
English
English Deutsch
Menu
Search


Altcoin Blockchain

Kyber Katalyst Deployed On Testnet, Upgrade Launch Imminent

Posted On April 12, 2020 Taha Zafar 0

  • share 
  • share 
  • share 
  • tweet 
  • share 
  • share 

Kyber team recently reported that Kyber Katalyst has been deployed on the testnet and its functioning as intended. The team further announced that they are currently undergoing security audits for the Kyber DAO – short for decentralized autonomous organization and a few other main features. The team will release a technical update in Apr 2020 and the launch will occur at the end of Q2 2020 (most probably in Jun 2020).

6/ We have successfully deployed Katalyst on testnet! All critical functions working as planned! Security is our utmost priority and we are undergoing a series of smart contract audits. Amidst all this dev activity, Kyber did a record $33.7M in 24H trading vol & ~$200M in March🔥— Kyber Network (@KyberNetwork) April 2, 2020

A Little Recap, What Kyber Katalyst Is About?

The Katalyst is the much awaited major upgrade coming soon to the Kyber network. It will enhance governance, other functionalities and features. It will also put the network’s native token Kyber Network Crystal (KNC) to extensive and beneficial use. The KNC token will play major role in the new incentive system, benefiting stakeholders and improving economic activity.

The governance will be powered by the Kyber DAO, in the future. It will make the decision making and network fund’s routing decentralized, increasing cooperation between Kyber team, KNC holders and other participants. The Kyber DAO will bring transparency, stability and incentives for KNC holders to hold tokens and participate in the governance process. It will also increase collaboration and allow holders to delegate their vote to liquidity pools.

Kyber Katalyst – Kyber DAO Governance

Kyber DAO will allow KNC holders to vote transparently on important matters such as the network fee, its allocation and further growth of the network. They will get to decide on the percentage of network fees to be reserved for voting rewards, percentage of token burning for enhancing value of existing tokens in circulation and percentage of tokens saved for reserve manager’s reward for providing liquidity to the network.

The Kyber team will initially maintain the Kyber DAO, under the watchful eyes of the community. The DAO has been designed for verifiable, vote facilitated governance with an emphasis on transparency and ability to quickly recover in case of emergencies. The team will put up proposals for voting (similar to Maker DAO), protecting against malicious activities and ensuring burnt KNC is acquired at fair price.

Eventually, the DAO governance mechanism will move to more technical and complex matters, such as determination of and granting approval for network and protocol upgrade decisions. The Kyber Improvement Proposal (KIP) mechanism will be released, after the Katalyst upgrade launch, to accomplish just that.

Kyber Katalyst – Staking, Voting And Reward

The staking and voting will be carried out in epochs, which are fixed periods of times, essentially 2 weeks, represented in Ethereum block times. This will result in faster reward distribution and decision making. However, it means more work also for the Kyber team and requires participants to vote frequently.

The team expects individual stakers to delegate the voting power to third party pools, who can vote on their behalf, being better acquainted with the conditions and state of the network, because of their active participation. For that, they will receive a share of the voting rewards.

There are no minimum amount of tokens required for staking. The stake can be withdrawn at any time, in full, even if not not used for voting or claim rewards. However, it will affect the voting power and rewards for the staker.

Methods Of Staking And Voting Through KNC Tokens

The default method of staking and voting would be through the Kyber DAO interface, which will be made available at Kyber.org at launch. The users would need to connect their wallets with the interface and the team has announced support for major hardware wallets also. It will be accessible on mobile also and the team is in talks with crypto wallets, to integrate staking and provide an easy interface for users.

  • share 
  • share 
  • share 
  • tweet 
  • share 
  • share 

It is super easy to buy Ripple. Just take a look at our exchange comparison!

 

 

Follow us on Social Media and subscribe to our free crypto newsletter!

@Telegram
@Instagram
@Twitter 
@TikTok
@Facebook

Diskutiere mit uns!

About Trading @CT Trader
About Crypto in general @CT Inside

This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 

#Decentralized Autonomous Organization (DAO)#decentralized finance (defi)#Kyber Katalyst



You might also like

Blockchain Crypto DeFi DEX Ethereum Uniswap Yield Farming

What Is DeFi? – A Beginner’s Guide To 5 Core DeFi Protocols
January 19, 2021
Blockchain Crypto DeFi Ethereum

What Is DeFi? – A Beginner’s Guide To Decentralized Finance
January 16, 2021
Blockchain Companies Crypto DeFi

Synthetix v3 Poised For 2021 Launch Could Revolutionize DeFi, Here’s How
January 15, 2021

More from Altcoin

What are the best Monero (XMR) wallets?
Posted On January 22, 2021 Robert Weiss 0

Monero is one of the most popular anonymous cryptocurrencies because of its high level of security, privacy, and strong technology. …

Top 5 Performing Cryptocurrencies of the Week -(Week 25)
Posted On January 17, 2021 Prasanna 0

At the time of writing this, the Bitcoin price is sitting at $34663.26. Here are the top 5 performing cryptocurrencies …

Breaking – After Bitcoin Crash, Cryptocurrencies Price Analysis, Bitcoin, Ethereum, IOTA, EOS, Ripple, Cardano, Chainlink
Posted On January 11, 2021 Marcel Vogel 0

The whole crypto market is falling strongly. But where could prices go now? When is it safe to buy in …

In order to support and motivate the CryptoTicker team, especially in times of Corona, to continue to deliver good content, we would like to ask you to donate a small amount. Independent journalism can only survive if we stick together as a society. Thank you


  • Top Broker

    Bybit
    bybit
    Review · Visit
    Plus500
    Plus500
    Review · Visit

    Top Exchanges

    Kraken
    Kraken
    Review
    Coinbase
    Coinbase
    Review · Visit
  • Newsletter subscription




  • News

    • Bitcoin News
    • Altcoin
    • Regulation
    • Blockchain Companies
    • Blockchain
    • Cryptocurrency Exchanges
  • News

    • Ethereum
    • Events Review
    • ICO News
    • Press Release
  • Education

    • CryptoTicker Starter Kit
    • Education
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
  • Cryptoticker

    • About us
    • Advertise
    • Media Kit
    • Submit your Press Release
    • Contact
    • Membership Login
  • Social Media












    Newsletter


  • Imprint
  • Privacy Policy
  • Non-liability Disclaimer
©2021 CryptoTicker

Share

Share stories you like to your friends