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

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ citiies. He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe.  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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