21 Thousand People Contribute To Kybernetwork As Company Reports ‘Smooth’ ICO

Trading of KyberNetwork Crystals (KNC) set to begin next week.

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KyberNetwork, a highly anticipated decentralized cryptocurrency exchange, has announced the official conclusion of their one and only public token sale after raising 200,000 ETH from over 21,000 unique addresses.

Participants have already been distributed their allotment of KyberNetwork Crystals (KNC) in anticipation of public trading, which is expected to begin next Friday.

“Thank you to our supporters and everyone involved with KyberNetwork,” said Loi Luu, co-founder and CEO of KyberNetwork.  “We have had an incredible outpouring of support and enthusiasm and we are truly humbled. I also want to thank the incredible team at KyberNetwork for their genius in helping us pull off this monumental achievement.”

In an announcement, the company said that over 23,000 transactions were facilitated on their token sale smart contracts and that KNC tokens were transferred to contributors immediately and with relative ease and minimal waiting time.

The company also said that because their communication process was distributed across multiple channels, including Slack, Telegram, Twitter and WeChat, allowing information and alerts to be disseminated properly and quickly to prevent scammers or trolls.  A total of 4 phishing sites and 4 fake twitter accounts were found and thwarted during the ICO and the company successfully detected and prevented a hack attempt on their blog.

KyberNetwork has warned everyone to be aware and vigilant of phishing sites and fake accounts moving forward, even though their ICO has concluded.

Public trading of KNC will begin next week and additional details will be announced soon on the company blog.

“This marks the end of one phase and the beginning of another. Moving forward, we will channel our energy and resources to product and business development,” said Loi Luu. “We promise that we will continue our effort in creating a world-class and highly usable platform that everyone has access to.”

Coming from the creators of Oyente and Smartpool,  KyberNetwork promises to be a new trustless, decentralized platform that will allow for instant trading and conversions between any crypto-assets.  KyberNetwork uses an innovative approach that incentives reserve managers to guarantee liquidity and enables trustless and instant convertibility of any tokens. It will also allow for complex financial instruments like derivative options and forward contracts.

KyberNetwork has already released their minimum viable product on testnet and plans their mainnet launch in Q1 of 2018. They plan to engage several blockchain entities to jointly set up reserves in anticipation of trading demand, as well as to extend the influence and vision of KyberNetwork throughout the blockchain ecosystem.

To learn more about KyberNetwork visit:  https://kyber.network

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) – Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, “The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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