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Kyber Network (KNC), an on-chain liquidity protocol that gives room for blockchain token swaps to be input into any app, has seen over 169% growth in recent time. Just when the crypto space is witnessing downtrend, KNC’s growth came as a surprise especially now that the crypto market is nothing to write home about.
Kyber Network (KNC), which saw over 55% in the last 24 hours, also jumped by 77% in the last 7 days.
Yesterday, March 8, Kyber Network unveiled the KyberDAO voting experiment. This is to improve the aim of Kyber drawing fully to decentralized economy and financial landscape. Observers have pointed that this may be the reason behind KNC’s sudden spike.
The voting idea is to make Kyber improved on the network’s participation growth, while also determining voting power distribution, allocation of resources, and decision-making between DAOs (Decentralized Autonomous Organizations) and the maintainers.
KyberDAO launched the platform’s first public poll for the community yesterday, and will continue for 16 days. The voting is expected to end on 24th March.
The major objectives of the voting activities are to weigh the interest of the community while also getting information and feedback on KyberDAO activities. The voting exercise, in the same line, aims at gathering the participation metrics. Also, the voting process is geared towards evaluating platforms like Aragon and DAOstack.
A part of what the community is voting on is the question of whether the KNC Community Grant be governed by KyberDAO.
Read: Tron (TRX) Leads Ethereum and EOS as DApp TRONbet Sees $36M in A Week
The Community Grant/KNC (Kyber Network Crystal)-based Treasury is set aside to finance ideas made by the digital asset’s community. Note that 10 random participants in the poll are to be given 10 Promo Tokens (PT), a promotional tokens issued by KyberSwap.
Meanwhile, as at the time of writing, Kyber Network (KNC) is trading at $0.326090 after seeing over 55% growths in the last 24hours. The digital asset has a market cap of $51 Million with a 24hr volume of $81 Million.