This article was first published on Kyber Network - Medium
KyberDAO has undergone 9 successful Epochs so far, with over 50M KNC staked, 10,000 on-chain votes, and $1M ETH rewards distributed to voters. Our Kyber community has also grown from strength to strength, with over 13,000 members between Telegram and our new Discord server, and more participants joining our monthly community calls.
KNC (Kyber Network Crystal) voting delegation is an important next step towards further decentralization and increasing active governance participation by key KyberDAO and DeFi ecosystem participants.
KNC Delegation to Key Ecosystem Participants
All KNC token holders are currently able to delegate their voting power on kyber.org to other Ethereum addresses. Building upon our strong foundation so far, the Kyber Network team will be expanding KyberDAO governance by delegating a portion of our own KNC tokens and voting power to top projects that have contributed to Kyber’s ecosystem development over the years.
This ensures that some level of KNC voting power will always lie in the hands of important stakeholders who are central to Kyber’s development and long-term goals, while giving them a sense of ownership over the value they contribute to the protocol. We’re glad to have the strong support of some of the leading projects in the space!
The initial list of 9 delegates are
- DApps: DeFi Saver, Enjin, Fulcrum (bZx), InstaDApp, Trust
- Reserves: OneBit Quant, FPR Representative (a top professional market maker that prefers to remain anonymous)
- Staking pools: Kyber Community Pool (DeFiDude), Unagii by StakeWithUs
These projects were chosen to represent the unique interests of the various stakeholders within Kyber’s ecosystem including integrated DeFi DApps, token teams, market makers using Fed Price Reserves (FPRs), industry partners, and core community members. They will commit to actively participating in governance and voting on KyberDAO campaigns every Epoch (2 weeks), receiving ETH voting ...
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Kyber Network - Medium