KNC Delegation
The Kyber Network team are expanding KyberDAO governance by delegating a portion of their own KNC to key projects in the ecosystem.
Kyber Network is backbone infrastructure enabling token swapping within apps like My Ether Wallet.
The team’s leading product is Kyber Swap which enables gas-free token trading with no-fee limit orders. There are currently over eighty pairs available to trade, with more on the way.
KyberDAO is the governance framework for the Kyber Network.
Nine projects have been selected for the delegated KNC:
DApps:DeFi Saver, Enjin, Fulcrum (bZx), InstaDApp, Trust
Reserves: OneBit Quant, FPR Representative (a top professional market maker that prefers to remain anonymous)
Staking pools: Kyber Community Pool (DeFiDude), Unagii by StakeWithUs
The recipients include a wide range of differing stakeholders, with the Kyber team aiming to decentralise governance as effectively as possible. They have been given a mandate to participate in all votes and will receive a percentage of ETH rewards accordingly.
KyberDAO
KyberDAO has kicked off successfully with other 10,000 on-chain votes across nine two week epochs and 50m KNC staked.
The project is aiming to set a shining example for governance tokens, directly incentivizing stakers with a share of fees generated on the platform. A portion of the gathered KNC is also burned, aiming to reward KNC holders and stakers as the token appreciates in value.
Over $1m of Ether has been awarded to voters so far.
Anyone can get involved today and earn rewards, and if you’re unable to commit to regular voting you can easily delegate your KNC in exchange for a small percentage of your share of the fees.
Interested in being rewarded for being an active voting community member?
Get involved in the project’s discord today.