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
- The KyberNetwork Whitepaper: https://kyber.network/assets/KyberNetworkWhitepaper.pdf
- Twitter: https://twitter.com/kybernetwork
- Slack: https://slack.kyber.network/
- Github: https://github.com/kyberNetwork/
- Medium: https://blog.kyber.network/
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