4 Unexpected Advantages of Kyber Network (KNC Coin)
written by
James Stone
posted on
One of the keys to long-term success as a professional trader is product knowledge. The key to product knowledge is knowing what the heck you’re investing in and being able to to explain it well.
So, what’s the key to knowing what the heck you’re investing in?
One of the things that holds people back from finding amazing projects such as Kyber Network is the technical difficulty by which they are marketed. I’m no IT expert, but I promised myself not to be scared off by technical terms. And to dig deeper into what Kyber is offering.
Here are four unexpected things I have come to learn about Kyber Network.
#1 Incredible progress
In the land of the blind, the one-eyed man is king.
If you’re a one eyed man, work with that. You’re not going to get a Nobel-prize trying to understand the absolute details of certain blockchain projects. (Although if you think that’s what you need to, kudos to you for your determination)
There will always be terms or complicated graphs you dont get. Dont let that get you down.
Look behind the technical analysis and you’ll find that Kyber Network(KNC Coin) has made incredible progress over these last three years.
On October 7, 2020, they released a blog post capturing the latest market trends and the obstacles they were facing. They wrote about DeFi tokens capturing the attention of the space and how new liquidity mining projects allowed Automated Market Makers to outperform their own Automated Price Reserves.
But, James. That doesn’t sound like a good thing. Wrong. The fact is that they posted their honest position about their predicament is amongst one of the best things you can find in a crypto project.
This is the kind of transparency you need to consider it for a long-term investment.
And it doesn’t stop there! January 21st of 2021, another update, Kyber 3.0. An extensive explanation on how they intend to remove past limitations.
A crypto project doesn’t need to be perfect to be a worthy investment.
Sure, we want the ‘’best in the world.’’ But to be the best in our world, you don’t have to be absolutely perfect.
Give them credit for overcoming obstacles, being transparent and communicating with us — in fact, encourage it.
#2 what is Kyber 3.0
Since its release in 2017, Kyber Network has been a single protocol which they will now transition into a hub of purpose-driven liquidity protocols that are catered to different DeFi use cases.
Truthfully, I don’t know the technical details of it. But what I know is that a protocol is a smart contract and where they first had just the one, they are now transitioning to being multiple purpose driven liquidity smart contracts. In other words, we are standing at the beginning of a major market catalyst for KNC Coin.
This will be the biggest change to Kyber Network’s architecture since 2017 and it will be implemented over 2 phases — Katana and Kaizen.
They are currently still in the development phase with the phases being rolled out over the next few months.
#3 Dynamic Market Maker
There is no better way for a company to resurface than to change and bring something new to the table.
At the start of this post we saw Kyber Network facing up to their challenges, and now they come out swinging. With a new and innovative Dynamic Market Maker. In Loi’s tweet thread in February we have seen him highlighting the obstacles Automated Market Makers face.
As we dive deeper into what Kyber Network is offering, we’re finding a new depth and richness to their product. We’re starting to see things about Kyber that we haven’t seen before. And as we keep researching, you’ll find that there is so much future potential here.
Before you know it, KNC Coin will trade 100$+ and be a liquidity leader in the DeFi markets.
#4 The captain of the ship
Our goal is to find a product worthy to add to our long-term portfolio. It isn’t to find a coin that’s going to pump in the next 24 hours.
That being said, we might want to take a look at the captain of the ship. The face behind Kyber Network, Loi Luu.
Loi, earned his PhD in computer Science from the National University of Singapore. Before he founded Kyber Network, he worked as a researcher for the Ethereum Foundation.
When you think about adding a coin to your portfolio, try to find out who their founder is and what kind of person it is.
Projects with a reliable team tend to less likely to turn out to be a scam or not deliver on their promises because they can be held accountable.
Kyber Network is transparent in their communication, aggressive in their innovation and they have a visible team behind their company. As long as they deliver on their promises and they maintain this level of communication with their community, KNC coin holders can’t lose.
Let me know what your favorite crypto project is down below or on twitter!
James Stones
James Stones is Crypthena’s Editor-in-Chief. He writes on a wide range of topics, such as the state of market, the best hedge funds or who the best non-sleazy advisers are.
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