Kyber Network KNC to district0x DNT Exchange

Crypto Pair Details: KNC to DNT

Kyber Network KNC

Kyber’s on-chain liquidity protocol allows decentralized token swaps to be integrated into any application, enabling value exchange to be performed seamlessly between all parties in the ecosystem. Tapping on the protocol, developers can build payment flows and financial apps, including instant token swap services, erc20 payments, and innovative financial dapps - helping to build a world where any token is usable anywhere. Kyber Network maintains liquidity through the dynamic reserve pool. The pool contains all of the Reserve Entities in the system. Having multiple entities in the pool prevents monopolization and keeps exchange rates competitive. When a user requests an exchange, the Kyber smart contract makes the exchange through the Reserve Entity with the best exchange rate for the user. By allowing external Reserve Entities, Kyber Network prevents centralization and opens the door to low-volume token listings. External reserves may be fine with taking on the risk of storing less popular tokens that the Kyber reserves don’t list. To prevent bad actors in the reserve pool, Kyber Network has few safeguards. The network will flag any exchange rate for special approval that’s greatly outside the norm. To protect funds in a public reserve, Kyber makes all exchanges using them available through a transparent fund management model. The Kyber team is impressive. Loi Luu, Yaron Velner, and Victor Tran are the founders behind the project. Luu previously created Oyente, the first open-source security analyzer for Ethereum contracts, and cofounded SmartPool, a decentralized mining pool project. Velner has been active in the Ethereum bug bounty program, and Tran is also a lead developer at SmartPool. The team has a well-rounded advisory board with the most notable member being Vitalik Buterin, Ethereum wunderkind. In August 2017, Kyber successfully launched their testnet beta. They plan on releasing their live product in Q1 this year in which you’ll be able to trade between Ethereum and ERC20 tokens. The project has an extensive list of partners including Request Network, Wax, and Storm. Because it’s an ERC20 token, you can store KNC in any wallet with ERC20 support. MyEtherWallet is the most popular online option. MetaMask works as well. Many investors choose to use a hardware wallet for additional security. You can’t go wrong with either the Trezor or Ledger wallet as both supports KNC.

district0x DNT

The district0x network is a collective of decentralized and autonomous marketplaces and communities, also known as districts. These districts are built upon a decentralized and distributed open-source framework, the d0xINFRA network, which is powered by Ethereum smart contracts. The district0x network aims at creating a friction-free, virtual economy where the users will be able to make buying and selling decisions, complete transactions, and even rank their peers with just one simple click. District0x aims to develop a flexible, and free market with advanced entrepreneurial concepts. The District0x infrastructure has a very neat concept with some well-outlined features, such as the staking interface. A staking interface is put in place that allows DNT holders to have open control over the districts through an Aragon governance layer for all markets that come online. Post creation of a district, an Aragon entity will also be created that people can use to interact with this staking mechanism. After staking a user will receive voting rights in that district. Using the creation interface, one can remove central power structures from any marketplace without the additional need for development or programming skills. It can be described as the WordPress of dApps where the districts being launched are like wordpress templates and the auxiliary modules are WordPress plugins for extended functionality. While it is very difficult to buy lesser known cryptocurrencies using fiat currencies (dollars, euros) directly from crypto-exchanges, district0x or DNT can be easily purchased from various exchanges using Ethereum or Bitcoin as the base cryptocoin. Binance is one of the popular exchange platforms that can help trade Bitcoin or Ethereum for District0x. One can use various wallets like myetherwallet.com to store the district0x (DNT) coins. Coinbase, Blockchain, Exodus, Trezor Hardware Wallet are also wallets that supports district0x. District0x, differs from most coins in its underlying concept and the architecture it is built on. The concept of interconnected districts and marketplaces promises a novel structure to the modern economies. What a lot of users are missing out on is the fact that it is a staking mechanism and not just a voting token. Staking is basically the process of mining the PoS (proof of stake) coins. Early investors will be able to lock their tokens to a specific district on the network, thus being able to participate in its governance later. DNT tokens can be staked in districts, thus they not only give voting power and privileges within that district but also provide district-specific tokens depending on when the investor had started trading. For example, early investors of the PoS token will be able to make decisions about the distribution of profits among stakeholders, the intricacies of the business model etc. DNT can basically be considered as a dynamic stock in the future district0x ecosystem. By joining the district0x, the user receives district0x coins. They allow the owner to exercise the right to vote for district proposals and make decisions within certain districts. This includes, for example, voting on proposals concerning the future of a particular district or setting fees. The scope of shareholders’ rights is outlined in the bylaws and varies according to the specific scope and purpose of each district. District0x platform users can interact with the functions and services provided by each district. Users can also freely create their own districts. For example, on Ethlance, the first district in the District0x network, users can post job offers or search for new jobs.

SOURCE: COINGECKO

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