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KYBER NETWORK DIGITAL ASSET REPORT

Introduction

The lack of sufficient liquidity has been restraining the development of the DeFi sector. Access to good liquidity sources is one of the most critical components to providing quality service for any decentralized dApp.

Kyber Network has built its product to solve the liquidity problem and is aiming to become a leading liquidity solution for the DeFi sector.

At its core, Kyber is an on-chain liquidity protocol that lets users exchange ETH and different ERC-20 tokens in any decentralized application. This helps to connect different projects’ ecosystems and make isolated tokens useful in a wide range of use cases.

The key design focus for Kyber is to be as developer-friendly as possible. This has helped the project to on-board many developers and dApps to its protocol.

In fact, Kyber was the most widely used DeFi application in 2019. Currently, Kyber has over 100 integrations with different DeFi projects, and the number of its partners keeps increasing.

Since its mainnet launch in 2018, the project processed over $1B in volume, out of which $70M was in 2018, $388M in 2019, and $609M in the first 5 months of 2020.

This year, the project is getting ready to launch Katalyst updated, which should not only help the project’s native token KNC to better capture the value of the network, but also cement Kyber’s position as the leading liquidity solution in the space.

With the growth of the DeFi space, Kyber will likely maintain its leading position. Moreover, given Kyber’s positive ongoing developments, it will likely attract even more supporters to its product.

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CONVEX PICK OF THE MONTH REPORT: CVX

Summary

Convex’s business model is built on Curve, a DeFi blue chip that continues to be one of the market leaders. It repackages Curve’s governance into a liquidity bootstrapping product that is already being used by projects like Abracadabra and Alchemix, and there is potential for more projects using it down the line. Ergo, Convex is one of the few examples of business-to-business models in crypto.

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