How to Use Kyber Network?

What is Kyber Network?

The Kyber Network is a protocol that enables automated, decentralized, instant, and low-fee exchanges of Ethereum-based assets. These assets include Ethereum (ETH) itself and ERC20 tokens. 30% of the transaction fees that reserve contributors pay for Kyber Network transactions go to Kyber Network integrations like Dapps, wallets, exchanges, and businesses.

How to Swap in Kyber?

Kyber protocol uses pools of crypto funds called “reserves”, they are smart contracts with a pool of funds. Reserves make money on the “spread” or differences between the buying and selling prices.

How to Stake KNC in Kyber Network?

The native token of Kyber is called Kyber Network Crystals (KNC). All reserves are required to pay fees in KNC for the right to manage reserves. The KNC collected as fees are either burned and taken out of the total supply or awarded to integrated dapps as an incentive to help them grow.

How to Vote on Proposals?

When you have staked you can start Voting.

How to claim your rewards?

1. Tap on ‘Rewards’, check all claimable rewards and tap ‘Claim Rewards’. Click ‘Confirm’ and confirm the transaction in your wallet.

Huobi Wallet is a non custodian multi currency wallet