Kyber Network will launch Katalyst on July 7

BlockBeats, decentralized trading platform Kyber announced today that it will upgrade its Katalyst protocol on July 7. & have spent The upgrade will change the role of its native Kyber Network, attracting more participants to the protocol.

It is understood that the Katalyst upgrade and the subsequent Kyber DAO platform will mainly apply to three types of Kyber stakeholder groups: reserve entities that provide liquidity to Kyber; Connect holders to a decentralized application of the Kyber protocol; And general KNC holders.

After Katalyst is launched, KNC holders can place their tokens on KyberDAO and manage the protocol by voting on important proposals and parameters, while voting for a reward (awarded by the ETH) in return. Any KNC holder can contribute to the development of Kyber by participating in KyberDAO. The main purpose of the upgrade is also to allow KNC holders to collectively determine the fee rate and usage allocations for the platform. KNC scrip holders will receive a portion of the award fee by mortgaging the scrip and participating in KyberDAO. If the users holding currency are not willing to participate in the voting, they can also entrust the voting right to a third party for proxy voting.

Users of the network will get access to the new Katalyst feature a week after it was released on July 14, when KyberDAO's first proposal was made in "Epoch 1". The KyberDAO operation was classified as a so-called "epoch" and users were given two weeks to vote.

Kyber DAO, a platform that allows different stakeholders to vote for governance, will be hosted on Kyber.org, a mobile application accessible on a platform with Web3 connectivity.

The original link: https://blog.kyber.network/katalyst-and-kyberdao-go-live-on-07-07-2020-d67ac075d95a

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