Kyber Network Crystal Legacy KNC/USD is an on-chain liquidity protocol that has undergone numerous developments.
With the hype surrounding its Kyber 3.0 launch, we saw its value rise 40% in March. The Kyber 3.0 launch promised new governance features as well as lower Ethereum fees.
KNC Setting the stage for growth
On April 19, KyberDAO approved KIP-6 to migrate and upgrade KNC to make the token a lot more dynamic through the ability to support efficient upgrades as well as give greater control over KyberDAO. This marked a huge milestone in its development and raised a lot of attention to the token.
On June 16, Kyber Partnered with Polygon to Enhance DeFi Liquidity.
Following its approval of KIP-6 by KyberDAO, the Kyber DMM (Dynamic Market Maker) was announced that it would be deployed on the Polygon network on June 30.
As a result of this, it is expected that the price of KNC will potentially rise around June 30 due to the fact that a lot of Polygon users would gain access to it.
On June 22, Kyber announced the Kyber DMM Learn & Win event that offered $3000 in prizes, where 20 people would receive $150 each. While this didn’t really improve it in a sense, it did raise some popularity and much-needed attention to the project in the form of indirect marketing.
Kyber DMM (Dynamic Market Maker) is a capital-efficient liquidity protocol designed to maximize the use of capital as well as optimize the returns of liquidity providers.
On June 28, it surpassed $100M in trading volume for its beta phase. This showcases a genuine interest in it, as well as huge potential going forward when the main release goes live.
Should you buy Kyber Network Crystal Legacy (KNC)?
On June 28, Kyber Network Crystal Legacy (KNC) was valued at $1.38.
With the success KNC has had with the Kyber DMM surpassing $100M, we can see that there is interest in it, and with the move to Polygon, we can expect a huge spike in popularity, trading as well as the value of the token.
At $1.38 it might make a lot more sense to buy before June 30, as it is expected to rise in value throughout that specific date.
Timing is key when it comes to KNC, as we do not yet know what the future holds.
Given the fact that there have been a lot of promotions as well as AMA sessions, alongside the Learn & Win event, we can clearly see that the company is trying to push this liquidity hub for seamless token swaps.
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