The Kyber Community or “Kyberians” as they call themselves, has introduced a Kyber Community Pool (KCP).
This Kyber Community Pool will be a delegation pool centered on the community members. It is pertinent to note that this Kyber Community Pool is not funded. Neither developed or maintained by the Kyber Network team. They only received funding when the idea of this communication pool was presented in the second KyberDAO experiment.
They also launched their new twitter handle – @KyberCP
Happy to finally unveil the Kyber Community Pool (KCP) – a "community first" staking pool!
— Kyber Community Pool (@KyberCP) June 25, 2020
KCP to delegate their KNC with the Katalyst upgrade
The Kyber Network is working towards the completion of the upgrade on Katalyst. The Katalyst upgrade will make Kyber’s Network’s native token, Kyber Network Crystal (KNC), a governance token. In recent times, governance tokens are becoming increasingly relevant in the era of decentralization.
Once Katalyst has gained its new form as a governance token, Kyber Network users will have the ability to stake their KNC on different proposals. These proposals would be used to govern the protocol.
As a result of this transaction, a part of the collected network fees will be given to the user as a reward. This reward is for their commitment towards governing the protocol and it would be paid in ETH.
Since on-chain governance demands so much attention, it is necessary that users should frequently access their wallets to enable them to vote. This may be a hectic task for an average user. But, with the Kyber Community Pool (KCP), it becomes a lot easier.
KCP gives you full control of your rewards
The Kyber Community Pool (KCP) will enable users to deposit their token into the pool. Afterward, the pool master will handle the main work. Note that the Community Pool will not have control of the deposited KNC.
As a result of the Protofire’s trustless smart contact proxy, fees gotten by the user will not be controlled by the community pool.
With the pool, users can claim their rewards without stress. The user may choose to redeem the fees on a regular basis or pile them up to a certain amount. Read full details here.
Previously, Kyber Network disclosed that it’ll be running an Automated Price Reserve for the Quant Network token (QNT) on its network. The Quant token (QNT) will be accessible through KyberSwap and other decentralized applications (DApps).
Also, Trace Labs’ Network Operating System (nOS) announced the integration of Uniswap v2 as its Liquidity Provisioning System (LPS). Therefore, Trace Labs’ nOS leverages Uniswap as its LPS enables traditional businesses to adopt Distributed Ledger Technology (DLT).