Krystal And Kyber Network Collaboration
Kyber Network’s liquidity protocols were one of the earliest used to power Krystal’s token swap service. As Kyber introduced its new highly capital efficient KyberDMM DEX protocol (launching on multiple networks, initiating liquidity mining programs to enhance liquidity), Krystal shown its support by integrating KyberDMM on all Krystal’s supported chains — Ethereum, Binance Smart Chain (BSC), Polygon and Avalanche, to bring Krystal users the best token swap rates.
Krystal collaboration with Kyber Network to bring a newer heights.
- Krystal Boosts Utility of $KNC token
- Community Pool for KNC Delegation on KyberDAO
- Tripartite Partnership: Krystal x Kyber x Token Projects
Krystal Boosts Utility of $KNC token
Krystal has recently announced the upcoming launch of KrystalGO, a platform that allows community members to participate in public rounds of funding by token projects. To qualify, participants accumulate points in 2 ways — staking Kyber Network Crystal ($KNC) (native token of Kyber Network), and trading volume on Krystal.
$KNC holders have the opportunity to participate in token launches
$KNC holders can accumulate points from staking $KNC on KrystalGO (1 KNC = 1 point). $KNC holders also have the choice to stake on any blockchain — Ethereum, BSC or Polygon, boosting the utility of $KNC on other blockchains.
$KNC holders have a greater chance of qualifying for higher tiers
In order to qualify for higher tiers, a greater minimum amount of KNC staked is required. The higher amount of $KNC staked, the higher the tier qualified, and the greater the token allocation.
KyberDAO is a community platform that allows KNC token holders to participate in governance. KNC holders can stake KNC to vote on important proposals. In return, they receive rewards in ETH from network fees collected from trading activities in Kyber Network.
Other than counting for points, there are currently no additional rewards for staking KNC on KrystalGO. In order to unite the benefits of KrystalGO and KyberDAO, Krystal will soon be developing a 3rd-party KyberDAO community pool.
This will allow users who stake $KNC on to not only participate in token sales on KrystalGO, but delegate their voting power to Krystal and earn bonus KNC rewards from KyberDAO.
Kyber and Krystal Partnership
Kyber Network is running an ongoing ‘Rainmaker’ liquidity mining program on KyberDMM, giving out rewards to incentivize strategic pools that are foundational to both trading and Dapp usage on Ethereum, BSC, Polygon and Avalanche.
With KrystalGO, Krystal will be connected to many up-and-coming token projects looking to boost liquidity on popular decentralized exchanges. Krystal will be pleased to present the option for token projects to collaborate with Kyber Network after their token launches, to increase liquidity of key token-pair pools on the highly capital efficient KyberDMM.
ABOUT Krystal
Krystal is a multi-chain platform to easily access popular decentralized finance (DeFi) services and manage NFTs. Krystal currently supports 23 DeFi services on 4 blockchains — Ethereum mainnet, Binance Smart Chain, Polygon and Avalanche.
ABOUT Kyber Network
Kyber Network aims to deliver a sustainable liquidity infrastructure for DeFi. As a liquidity hub, Kyber connects liquidity from various protocols and sources (e.g. KyberDMM) to provide the best token rates to takers such as Dapps, aggregators, DeFi platforms, and traders.
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