Kyber Network Mainnet Pilot is Now Live!
Now live on mainnet, and available exclusive for KGT holders!
Kyber Network is an Ethereum-based protocol that allows the “instant exchange and conversion of digital assets (e.g. crypto tokens) and cryptocurrencies (e.g. Ether, Bitcoin, ZCash) with high liquidity.” Kyber is similar to the 0x project but instead performs all its actions on the blockchain.
Centralized exchanges are constantly under fire for their security vulnerabilities and slow process times. In some instances, it could take days to withdraw your funds from an exchange. Popular decentralized exchanges have their flaws as well. They oftentimes don’t have enough liquidity to support active trading, and costs to change a trade can be high when the order book is kept on-chain.Kyber Network provides a decentralized, on-chain exchange, but removes the order book. This gives the platform the ability to securely exchange your crypto instantaneously at minimal cost.
- But today we have some fresh news about Kyber network, Pilot Launch on Mainnet:
The pilot launch on mainnet will run from February to April 2018. Each wallet address is only allowed to trade up to US$3,000 worth of Ether/tokens per transaction, with a US$15,000 daily limit that is refreshed at 12 AM (GMT+8). On top of that, the exchange service will exclude Singapore residents from utilizing Kyber Network for token conversion services, as we are still consolidating the tax matters related to Singaporeans’ participation in our network. This will be the arrangement until we have further clarity on tax requirements from the regulators.
During the pilot phase, only KGT holders — Kyber Network’s whitelisted ICO contributors — will be granted access to the platform. As this is the first time Kyber Network’s platform will be deployed on the Ethereum mainnet, we want to ensure stability by scaling up user access in gradual batches. After a couple of weeks, we will monitor the traffic and probably allow more non-KGT holders to join the pilot launch on a request basis (more details on this will be made available later). To check if you are a KGT holder, please search for your address here on Etherscan
The first 10 Tokens added to the network are: Aelf (AELF). Basic Attention Token (BAT). Decentraland (MANA). EOS (EOS). Gifto (GTO). Kyber Network (KNC). OmiseGo (OMG). Power Ledger (POWR). Request Network (REQ). Status Network (SNT).