Kyber Network is an on-chain liquidity protocol that lets token holders contribute liquidity (called reserves). The Kyber Network offers multiple types of reserves, each of which exists as a smart contract controlled by whoever deployed it. For example, Kyber Network maintains its own reserve.
Kyber doesn’t use order books; when a user initiates a trade, Kyber returns the best price across all reserves. The Kyber Network can be integrated into dApps to enhance user experience. Vendors and wallets can also use the Kyber Network to allow users, customers, and businesses to swap, pay with, or receive their token of choice in a single transaction.
Kyber has a native token called KNC which is used to align ecosystem incentives. Holders stake KNC to participate in governance and earn rewards, reserve managers pay fees and receive rebates in KNC, and DApp integrators receive a portion of fees.
How to use Kyber?
The best way to use the Kyber protocol is to head to one of the partner wallets or straight to KyberSwap. Just activate MetaMask, choose your assets, and swap!