wallet in the market, and just days after that the Kyber Network Token (KNC) was listed on Bithumb
one of the world's largest cryptocurrency exchanges. During this time the trade volume on the exchange exceeded $ 1 million daily transactions. These events serve as strong validation of Kyber Network as a company, and will surely be influential in promoting the growth and adoption of our product.
Beyond this, Kyber Network had eventful two weeks. We conducted a community-wide thought experiment surrounding new KNC token use cases, and received helpful and insightful contributions; we welcomed three new people to the company, John Ng, Simon Kim, and Hwisang Kim; and we continue improving the efficiency and stability of our exchange, reserve, and smart contracts.
A huge thanks to the whole Kyber community, these momentous successes are made possible by your support and encouragement.
Technical development
Exchange
The last two weeks we turned our attention towards improving user experience on the exchange. We have been working to ensure that the website is compatible with many different browsers and browser settings. To achieve this, please contact the website with new browsers and developing support for specific applications that might disrupt the user interface. DAI token is currently available.
What was done in the last two weeks:
Tested the exchange website on Brave and Samsung browsers
Developed support for new Ledger firmware
Developed support for browsing when Google translate is enabled
Improved support for DAI tokens
Reserve
With regards to our reserve we are focused on improving the efficiency and stability of our rebalancing and statistics systems. Bittrex on top of Binance for rebalancing. We also modified our recursive trade strategy to ensure better rebalancing efficiency. Statistically, we analyze the price update data to ensure that we optimize the gas costs and also implement the volume prediction and expected user behavior statistical systems.
What was done in the last two weeks:
Developed support for the reserve to use Bittrex on top of Binance for rebalancing
Changed in trade strategy and applied new recursive trade strategy for rebalancing
Analyzed price update frequence statistics to optimize gas costs
Finalized design for a low liquidity token price discovery algorithm
Developed support for volume prediction and expected user behavior statistics
Developed support for the accounting department
Smart contract
We have started on some promising new smart contract projects. First of all, we are in the process of developing support for two new reserve managers that will soon integrate with the Kyber Exchange. Currently two reserves are in development stage, and one is still being designed. Beyond this we are still making progress on our token-to-token conversion smart contract.
What was done in the last two weeks:
Developed support for two new reserve managers
Continued development and design for reserve smart contracts
Worked on token-to-token conversion
Community, Partnership and Listing
Kyber Network token utility thought experiment
By posing questions to the community at large and allowing them to research, debate, and discuss their positions, while also bringing in new perspectives and suggestions.
Kyber Network is to explore new token utilities for the Kyber Network Crystal (KNC), and so we got out to our community for suggestions. We asked the following question: right now the KNC token is used by reserve managers to pay fees, how can Kyber Network best implement additional token use cases that will benefit the majority of its stakeholders?
As a result, there are many thought-provoking and insightful suggestions ranging from, using KNC as a smart contract staking token, to using KNC for a HODL discount plan. We encourage everyone to go check out the reddit page. Please comment and contribute your thoughts!
Expecting Btc to Test 10000 $
If Dont Break $ 8600 $ 8700 $.
See Below 2 hour 4 hour Chart.
Lets Wait And see I May be wrong
We will be rewarding the efforts of those who contribute by giving 50KNC to the 10 comments that provide the most popular and insightful suggestions.
Fud and hate'from central government, financial institutions and top industries against crypto's have no ending-however we will win in the long run. Most recently, Google will join their centralized buddies Facebook to ban ads related to Crypto's. Even though google preaches not to do evil- I wonder why they are not practicing what they preach (guess they are afraid of blockchain).