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What is KNC (Kyber Network)?

Issue Time: 2020-8-26
Total Supply: -
Circulation: -
White Paper: https://files.kyber.network/Kyber_Protocol_22_April_v0.1.pdf
Website: https://kyber.network/
Explorer: https://etherscan.io/token/0xfebf4e08b90b45cf949d56454830bfdf17339083
 

KNC stands for Kyber Network Crystal and it is the governance token for the Kyber Network. KNC plays a critical role in determining the incentive system, building a wide base of stakeholders and facilitating economic flow in the Kyber protocol.

The Kyber Network is a decentralised exchange that provides on-chain liquidity that is applicable to any application, enabling value exchange to be performed seamlessly between different ERC20 tokens. 

The Kyber Network aggregates and maintains on-chain liquidity through a dynamic reserve pool whereby this pool contains all of the reserve entities in the system. Having multiple entities in the pool prevents monopolisation and keeps exchange rates competitive.


BIDS

The bid price is the highest price that a particular buyer is willing to pay for a specific product or service. In the context of financial/crypto markets, it is the value buyers offer for an asset, such as a commodity, security or cryptocurrency.

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ASKS

The asking price is the minimum price that an individual would be willing to sell their asset, or the minimum amount that they want to receive in return for the unit(s) they are parting with.

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MY OPEN ORDERS

Here you can see all of your open orders. To cancel an open order, just click the ‘X’ symbol next to it.

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LIMIT ORDER

Limit order gives you the power to set a specific price at which you would like to buy or sell the desired amount of cryptocurrency.

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MARKET ORDER

A market order is an order type that enables you to buy or sell at the best available market price.

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STOP LOSS LIMIT

A Stop Loss Limit order is designed to limit your loss on a cryptocurrency position. A Stop Loss Limit order can be placed to buy or sell a specific cryptocurrency at your entered price (a limit order) once that cryptocurrency reaches a certain price.

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TAKE PROFIT LIMIT

A take profit limit order is an order put in place by traders to maximize their profits and protect their profits on positions. A take profit limit order allows you (a trader) to set your custom made Buy or Sell order. You have to set two prices - the Trigger Price and the buy/sell Price.

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