Kyber Network is a decentralized liquidity protocol that facilitates the instant exchange of digital assets, including cryptocurrencies, tokens, and stablecoins. It is designed to enable seamless transactions between different blockchain networks and alleviate issues such as low liquidity, high fees, and slow transaction times that are commonly faced by cryptocurrency traders.
Kyber Network uses smart contracts to seamlessly execute trades on-chain, allowing users to quickly convert their digital assets without relying on centralized exchanges. It allows users to access a wide range of tokens and cryptocurrencies through its liquidity network and provides developers with an easy-to-integrate API to build decentralized applications that require seamless token swaps and instant settlements.
Kyber Network’s native token, KNC, is used to pay for fees on the platform and provides its holders with various benefits such as reduced transaction fees and voting rights for platform upgrades.
