Kyber Network, a globally acclaimed DeFi protocol ecosystem, has announced the news about the launch of its highly anticipated delegation pool system, the Kyber Community Pool. The blockchain entity stated that KCP is not developed, maintained, or funded by the core team of Kyber Network. The entity received funding by initiating the idea for the pool in the second KyberDAO experiment case.
The news was circulated in the media through an official post by the Kyber Network team on their Twitter portal. It read:
— Kyber Network (@KyberNetwork) June 25, 2020
According to the blog post, the Kyber Community Pool is studded with a wide range of features that make it stand out from other platforms. The users can earn similar rewards as they would have earned if they would have cast the votes themselves. There is no hidden fee charge associated with the participation in the Kyber Community Pool. One of the most prominent features of KCP is that the network will always keep the community at the heart of the pool, which implies that the focus shall remain on community development.
All the KNC token holders will be enriched with a sense of trust and assurance that their KNC is being employed in a community-driven manner that is beneficial and righteous. Another reward for the pool participants is that the system will give priority to the community thoughts when governing the protocol.
The users will be allowed to deposit their KNC assets into the pool, giving them full authority to the pool master to deal with them. All the funds shall be managed by Protofire’s smart contracts and audited by the Kyber Network and ChainSecurity. A share of fees generated on Kyber Network shall be awarded to the users in ETH tokens. One can store their rewards or redeem them regularly via a Web3 transaction on the main Kyber Community Pool website. The users can enter the amount they want to redeem and click the Redeem option.
Kyber Network thrives to cater to its community’s requirements by giving them a voice to be heard by the community members. KCP will lay special emphasis on communication and getting the reviews of one and all regarding an active proposal in the discussion. This shall be executed by maintaining thorough contact with everyone through multiple social media platforms like Telegram, Reddit, Twitter, and Discord. The team will remain in constant contact with their users by conducting bi-weekly calls to them.