This article was first published on Kyber Network - Medium
Hello fellow Kyberians,
Welcome to the Autumn edition of our ecosystem report. A year ago this autumn we were busy formulating our ideas around what turned into the KyberDAO and our Katalyst release. A year on, after a successful launch and the distribution of more than $1M to KyberDAO participants, we are once again formulating our ideas around the future of Kyber and what 2021 and beyond holds. Guiding narratives for us continue to be:
- Enhancing liquidity by optimizing network fees and growing our dedicated reserve ecosystem
- Shifting control of governance to the KyberDAO (including allowing it to make decisions on new token and reserve additions)
- And creating a more open system of permissionless liquidity contribution that is accessible to anyone in DeFi
Going into Q4, key initiatives for Kyber revolve around launching the Professional Market Making Framework, supporting developers through an Open Reserve Ecosystem, and introducing Permissionless Liquidity Contribution.
And in the short term we are introducing a trio of important KIPs to be voted by the KyberDAO with the aim of increasing immediate competitiveness:
KIP-3: Reduce Kyber Network fees from 20bps to 10bps (0.2% → 0.1%)
KIP-4: Apply network fees to all reserves (including for the first time bridge reserves)
KIP-5: Allow the KyberDAO to approve new tokens and reserves
In an environment where we are seeing various DeFi trends come and go we believe our plans put us on a strong path towards a sustainable liquidity infrastructure. As always, communication with you, the Kyber community and its stakeholders, is paramount to Kyber’s growth and success and within this ethos we’ve published a detailed blog post laying out both our short term plans and what we are working on beyond 2020. We highly recommend a read here.
KyberDAO Governance Snapshot
The KyberDAO is currently (up ...
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Kyber Network - Medium