Kyber Network Crystal (KNC) is an ERC20 token. To operate as a reserve in our network, Kyber Reserves are required to purchase and possess KNC – think of it as Kyber’s version of a business license.
How KNC works
UtilityAfter every successful transaction, a small portion of the trade volume will be paid to Kyber in KNC, which will then be channelled to cover operation expenses and reward our partners.
For instance, a platform integrated with Kyber Tech will receive referral fees in KNC for generating trade volume by directing users to the network.