Kyber Network Crystal (KNC)

KNC is an integral part of our reserve system. Find out more about the use of KNC here.
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

Utility

After 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.
Utility
Utility
For instance, a platform integrated with Kyber Tech will receive referral fees in KNC for generating trade volume by directing users to the network.

Token Burning

Any leftover KNCs will then be ‘burned’ (taken out of circulation). As more reserves participate in our network, the total supply of KNC will gradually decrease due to burning, which could ideally lead to an organic appreciation of the token’s price.
Token Burning