The popularity of decentralised exchanges (DEX’s) is growing and one of the first DEX’s – Kyber Network just made a big move.
The Kyber Network is a decentralised exchange protocol that has Vitalik Buterin as an advisor. The only other project he is an advisor for is OMG, and we all watched those 5,000% gains in awe. Now onto the Kyber news.
The Kyber Network just partnered with Myetherwallet (MEW), the most popular ERC20 token storage wallet globally. What this means is that you will be able to exchange any ERC20 tokens for other ERC20 tokens in your Myetherwallet without having to use an exchange.
What does this mean? This means no fees at all, no risk of the exchange mishandling you funds and no need to waste time and money moving your funds to and from an exchange. To put it simply you can exchange your Ethereum for some OmiseGo right there in your Ethereum or OmiseGo wallet, no need to move to an exchange. Or you could exchange your Substratum for some Modum all right there in your MEW, fee free. Sounds like a win to me.
So what does this mean for Kyber? As you may have seen yesterday and the past few days, the Kyber token shot up almost 100%. Holders of the Kyber KNC token earn passive income. The value of these tokens will continue to soar as this partnership starts bearing fruit for the KNC token holders.
So now you have seen how you can benefit from being an investor and a user in the Kyber Network. We have been hodling KNC for a while and will continue to hold it with high expectations from this latest partnership.
Plus, how can you go wrong with Vitalik as an advisor, did we mention 5,000% gains?
You can buy KNC token here.