Kyber Network Crystal

Kyber Network Crystal (KNC) is the governance and utility token of Kyber Network, a decentralized liquidity hub that aggregates liquidity from multiple sources so that decentralized applications, exchanges, and other users can access competitive token-swap rates without relying on a single pool. The protocol targets developers who want to integrate on-chain token swaps into their products without building or sourcing their own liquidity. All transactions settle on-chain and can be verified through a public block explorer.

Kyber Network routes trades through an aggregation layer that pulls together liquidity from various protocols and automated market makers, executing swaps and settling them on-chain in a single transaction. KNC holders can stake their tokens in the KyberDAO, the protocol's governance body, to vote on proposals; in return, stakers receive rewards denominated in Ether that come from trading fees collected by the protocol. The token operates across several blockchain ecosystems, including Ethereum, BNB Chain, Avalanche, Polygon, and Fantom.

Trading fees paid by users of Kyber's swap interface and integrating DApps form the revenue stream, and a portion of those fees is distributed to KNC stakers through the KyberDAO. The token's circulating supply stands at approximately 209,237,563 KNC against a maximum supply of 252,301,550 KNC, meaning about 82.93 percent of the maximum has entered circulation at this point in time. The remaining roughly 15.20 percent of maximum supply not yet circulating represents potential future dilution, captured in the dilution overhang figure recorded at this point in time. The fully diluted valuation is approximately 1.15 times the current market capitalization at this point in time, reflecting that gap between circulating and maximum supply.