The Kyber Network is a decentralised, blockchain-based system that allows tokens to be exchanged without the need for a middleman and offers liquidity for decentralised finance (DeFi) applications. Kyber Network is now integrated with over 100 apps and supports KyberSwap, Kyber Network’s decentralised exchange (DEX). Kyber Network is administered by its native KNC token holders through KyberDAO, a decentralised autonomous organisation (DAO).
Liquidity in the cryptocurrency community refers to numerous factors, including the capacity to swap an asset without significantly changing its price, the quantity of trading activity in a market, and the ease with which an asset may be converted to cash. Liquidity is necessary for healthy, effective, and user-friendly markets, but it may be challenging for new DeFi protocols to achieve and maintain.
Liquidity providers in conventional financial markets are centralised enterprises such as banks and financial institutions. Using centralised businesses to supply liquidity in DeFi markets, on the other hand, would go against the ecosystem’s decentralised ethos. As a consequence, permissionless protocols such as Kyber Network have evolved to replace them. The objective of Kyber Network is to build a world in which any token of value may be used everywhere for swaps in any wallet, as well as payment services and other newly built financial products.
