This article was first published on Kyber Network - Medium
Hello fellow Kyberians,
What a crazy few weeks and months its been in DeFi. Seemingly out of nowhere yield farming has exploded in popularity and caused all sorts of mayhem in the crypto world. Gas prices have shot up to previously unseen levels and in pursuit of high yields users are taking on higher risk to try out these experimental and in many cases unaudited contracts.
We at Kyber are heads down hard at work building the best liquidity protocol and asset swap experience out there and we feel we have a strong roadmap that navigates us through these scaling and other challenges in this path towards mainstream adoption. That is why we come to you every month with our ecosystem updates; to highlight the myriad of technical progress, growing on-chain activity, and decentralized governance narratives shaping Kyber over the last 30 days. Lets jump right in..
The KyberDAO is the main decentralized governance mechanism for setting the Kyber Network protocol parameters and as such we place a high priority in ensuring as many people can seamlessly and easily participate in its governance as possible. August saw the mainnet launch of a new pool master to help KNC stakers participate in the KyberDAO in a gas and time efficient way. Unagii by StakeWithUS is a staking portal and pool master that KNC holders can delegate their tokens to to vote on their behalf. This means KNC stakers do not have to vote every epoch and therefore do not have to pay gas fees while still receiving the same rewards as regular KNC stakers.
We understand the current high gas fees can reduce the net rewards for participating in the KyberDAO and therefore recommend stakers consider taking advantage of pool master services such as Unagii, the Kyber Community Pool, xKNC and others ...
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Kyber Network - Medium