KyberDAO: Increasing Ecosystem Participation
By: Kyber Network
Tags: Ethereum, Featured, English

KyberDAO: Increasing Ecosystem Participation

KyberDAO has completed 9 successful Epochs so far, with over 50M KNC staked, 10,000 on-chain votes, and $1M ETH rewards distributed to voters. Our Kyber community has also grown from strength to strength, with over 13,000 members between Telegram and our new Discord server, and more participants joining our monthly community calls.

KNC (Kyber Network Crystal) voting delegation is an important next step towards further decentralization and increasing active governance participation by key KyberDAO and DeFi ecosystem participants.

KNC Delegation to Key Ecosystem Participants

All KNC token holders are currently able to delegate their voting power on kyber.org to other Ethereum addresses. Building upon our strong foundation so far, the Kyber Network team will be expanding KyberDAO governance by delegating a portion of our own KNC tokens and voting power to top projects that have contributed to Kyber’s ecosystem development over the years.

This ensures that some level of KNC voting power will always lie in the hands of important stakeholders who are central to Kyber’s development and long-term goals, while giving them a sense of ownership over the value they contribute to the protocol. We’re glad to have the strong support of some of the leading projects in the space!

The initial list of 9 delegates are

These projects were chosen to represent the unique interests of the various stakeholders within Kyber’s ecosystem including integrated DeFi DApps, token teams, market makers using Fed Price Reserves (FPRs), industry partners, and core community members. They will commit to actively participating in governance and voting on KyberDAO campaigns every Epoch (2 weeks), receiving ETH voting rewards in return. Please note that this list of delegates may change in the future.

KNC Delegates: Main Responsibilities

On-chain governance: Vote on every campaign on kyber.org using delegated/staked KNC

Vote on every campaign on kyber.org using delegated/staked KNC Off-chain governance: Delegates will actively participate in discussions about Kyber’s development, especially regarding proposals that directly affect their operations (as a DApp, Reserve, or Staking Pool)

Delegates will actively participate in discussions about Kyber’s development, especially regarding proposals that directly affect their operations (as a DApp, Reserve, or Staking Pool) Regular Communication: Delegates will maintain regular communication with the Kyber team and provide important feedback

This initiative is part of Kyber’s ongoing efforts to encourage token holders, traders, reserves, and developers building with Kyber to actively participate in its governance and work on Kyber’s development. Together, our delegates will help Kyber execute our objectives and deliver a sustainable liquidity infrastructure for DeFi.

We believe that KNC can be a successful example of how governance tokens should operate, and it will help align incentives among stakeholders in the Kyber ecosystem, while also facilitating long-term growth and development.

Join the Kyber Community

Token holders, traders, reserves, and developers building with Kyber are all encouraged to continue actively participating in governance. Any KNC holder can also stake their tokens, vote on important proposals, and earn ETH rewards.

If you haven’t done so, join us on Discord! You can use the following channels to keep discussions focused on specific topics:

#kyberdao: for general discussion and feedback around the KyberDAO

#burn_reward_rebate: for discussions about the network fee allocation and BRR (Burn/Reward/Rebate) proposals

#kip: for discussions about the latest KIP proposals

#kyberdao-updates: for important governance-related updates

Voice Chat: for listening and speaking during our community calls

As always, all updates and calls will be announced on Twitter and on Discord. Community Proposals can be submitted on reddit as well. If you need additional alerts, you can sync this public KyberDAO google calendar created by our community ambassador DeFi Dude.

Kyber is committed to facilitating transparency and community engagement on the path towards progressive decentralization.

Onward, Kyber Network!